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Skip Navigation LinksDepartment of Housing and Public Works > Housing > Industry regulation > Retirement villages > 2017 Amendments to the Act

2017 Amendments to the Act

The Housing Legislation (Building Better Futures) Amendment Act 2017 (PDF, 1.3MB) was passed by Parliament on 25 October 2017 and assented to on 10 November 2017. It contains amendments to the Retirement Villages Act 1999.

The changes to the Act will increase transparency in the relationships between retirement village operators and residents, and will provide additional security and confidence to residents.

What will change

  • Behavioural standards that guide how village operators, staff and residents interact with each other have been introduced. These standards ensure respect for the rights and obligations of all parties and the quality of life of residents.
  • An operator must pay the exit entitlement of a former resident at 18 months if their unit is not sold. For residents who have already left their retirement village and whose unit has not sold, the 18-month period starts on 10 November 2017. An operator may apply to QCAT if paying the exit entitlement will cause them undue financial hardship. QCAT will consider the matter and may determine a later payment date or payments by instalment.  

The following changes will be implemented at a later date, to be advised. These changes will support prospective residents by.

  • improving pre-contractual disclosure to allow prospective residents to compare retirement villages and other options so they understand the costs of entering, living in, and leaving a village
  • allowing for simpler, standardised contracts
  • allowing them 21 days to review their contract and seek financial and legal advice before they sign.

The following changes will also be implemented at a later date, to be advised. These changes will protect residents.

  • New requirements for operators to prepare and obtain approval for plans for proposed changes in village operations, such as closure, redevelopment, or change in operator.
  • Improved financial transparency regarding retirement village funds, budgets and financial statements.
  • A fairer process for identifying work needed to refurbish and reinstate units when a resident decides to leave. This process will distinguish between reinstatement and refurbishment works, and clarify who is responsible for the costs of each.

Implementation

We will continue to work with residents, operators and representative peak groups as amendments to the Act are implemented.



Last updated 21 November 2017    Creative Commons Attribution 4.0 International (CC BY 4.0)
 

 Contact us

 

For more information about these changes:

Phone: 07 3008 3450

Email: residentialservices@hpw.qld.gov.au



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