NSW Government Inquiry into the Retirement Housing Industry
As part of its four-point plan to improve retirement village living, the NSW Government has commissioned Kathryn Greiner AO to lead an inquiry into the NSW retirement village sector.
The inquiry will review the protections offered to residents, and ensure that Fair Trading has the necessary powers to make sure retirement village operators are complying with the law.
The investigation will look at concerns raised about the fairness and transparency of business practices of retirement villages in NSW, and includes:
- transparency and honesty of marketing activities
- clarity of fees and contractual rights and obligations for prospective residents and their families
- suitability and fairness of village maintenance and operational practices to maintain resident safety
- availability and cost-effectiveness of dispute resolution mechanisms
- fairness of arrangements to levy maintenance fees to maintain the village and address building defects
The inquiry will also look at opportunities to improve Fair Trading’s administrative and operational practices that could help address unfair practices in the sector.
Download the formal Terms of Reference for the inquiry (PDF size: 161kb).
Read more about Kathryn Greiner AO (PDF size: 40kb).
The final report and recommendations from the inquiry are due to be completed by 15 December 2017.
The inquiry seeks the views of current and former residents, their families and advisors, on the issues raised in the Terms of Reference (PDF size: 161kb).
Residents and members of the community are invited to attend a consultation forum to discuss their concerns at locations across the State. Forums will be held in Sydney, Hornsby, Ballina, Port Macquarie, Newcastle, Wollongong, and Wagga Wagga during October 2017.
Register for your free seat to a community forum here.
If you are unable to attend a public forum, you can still make a submission by using the online submission form or written submission to the address listed below.
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