Changes to retirement village operations
In 2017 the Housing Legislation (Building Better Futures) Amendment Act 2017 (HLA Act) was introduced. The HLA Act amends the Retirement Villages Act 1999 (RV Act).
Changes to the RV Act that came into force on 11 November 2019, include the requirement for scheme operators to prepare plans for changes in village operations. Plans must be in the approved form and include matters prescribed by the Retirement Villages Regulation 2018.
Changes in village operations refers to the closure of a retirement village scheme (including temporarily), transition of control to a new scheme operator, and redevelopment of a retirement village.
These new laws will help ensure certainty for the retirement village industry and improved transparency in the relationships between operators and residents.
This guide provides information on closure plans, redevelopment plans and transition plans for retirement villages.