Retirement Village contracts are extremely complex and contract terms around fees and exit entitlements can lack transparency. Different types of retirement accommodation can also be regulated by different pieces of legislation depending on how they are structured, which can add to the confusion for residents.
In our view, this complexity limits the ability of residents to understand their rights and obligations under their contract and makes it difficult for people to shop around and compare different options when they are thinking about moving into retirement accommodation. There is also a lack of specialist legal advice available on this topic, particularly for people on low incomes.
We’re calling on the Victorian Government to commit to a broad review of retirement housing legislation, contracts and practices. Visit, call, email or write to your local MP and tell them you want change.
Consumer Action’s policy priorities for retirement villages are outlined here.