Following the recent coverage of the Four Corners investigation into retirement villages, the State Government has this week announced they will accelerate new regulations for retirement villages and Land Lease Communities (LLCs) by the end of the year.
Queensland Premier Annastacia Palaszczuk said the changes have been in development for three years. They would include introducing simpler contracts; declare ongoing fees and charges upfront; give residents at least 21 days to check contracts before signing, and setting up dispute resolution processes.
For LLC residents, the Government also plans to put in place a new, staged pre-contractual disclosure process; limits on rent increases; and minimum standards for park owners, staff and home owners.
They will also provide $1 million over two years to fund resident groups for people living in villages, LLCs and aged care rentals.
Good news for residents
It’s welcome news for residents of Queensland’s 315 retirement villages.
That’s not a surprise when you consider that the Queensland Government first held a parliamentary inquiry into retirement villages back in 2012. This new announcement comes on the back of another lengthy 18-month consultation process. Clearly residents – and operators – are ready for change.
So it’s great to see action on these recommendations, but more needs to be done with residents – both current and future – to ensure everyone understands the system.
Most of the residents interviewed in the Four Corners report hadn’t read their contract before they signed it.
As we covered here, ‘buying’ into a village is not the same as buying a house – but there is legislation to protect residents and legal and financial advice available.
More protections will only be a good thing if people are aware of them.
