6 November 2024

Retirement Village reforms pass through Parliament

Welcome to the first bulletin for retirement village residents.

We’re pleased to inform you the Retirement Villages Amendment Bill 2024 has passed through Parliament.

We know reading legislation can be daunting, so these bulletins will break down what you need to know about the reforms.

Some of the key changes that will benefit you include:

• timely payment of exit entitlements for holders of a lease-for-life, or completion of buybacks of strata titled properties for former residents within 12 months of leaving the village;
• help from your operator with aged care fees while you are waiting for your exit entitlements;
• clarified obligations and responsibilities around maintenance of the village and replacement of building and structures;
• clear rules about reinstatement and refurbishment; and
• rules for operators and residents and requirements to consult on the annual budget for the village.

For prospective residents, there will be new disclosure requirements to provide earlier, clearer disclosure of the type of tenure offered, availability of facilities and services and costs of entering, living in, and leaving a village.

It is important to note that these changes won’t commence immediately. 

For example, operators will have 12 months to comply with the new exit entitlement time limit so they can adapt to the changing circumstances. There will also be a delay of around 12 months in commencement of other provisions to allow for the preparation of regulations and new disclosure documents and guidance materials.

Consumer Protection is currently consulting with key stakeholders on amendments to the Retirement Villages Regulations that will support the changes that have been made to the Act. The new regulations are expected to be in place in the second half of 2025.

Would you like to participate in the consultation?

We are interested in your views on proposed new rules of conduct for operators and residents, and budget obligations.

Contribute to the consultation

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Want to know more about retirement village living?

More information on retirement village living can be found on the Consumer Protection website.

Enquiries can be directed by email to consumer@demirs.wa.gov.au or by phone on 1300 30 40 54.