Monday, September 23, 2013

Contract for retirement villages

NSW Government has a standard contract for retirement villages that will be mandatory for village contracts entered into on or after 1 October 2013.
fairtrading.nsw.gov.au/.../Retirement_villages/Standard_contract_and_disclosure_documents.page
The standard retirement village contract has been designed to clearly set out residents’ and operators’ rights and obligations in a clear, standardised format.
The standard contract covers matters such as what residence rights are involved, entry costs, the settling-in period, recurrent charges, services and facilities, alterations and additions, repairs and maintenance, sharing of capital gains, and departure fees.
See the NSW Fair Trading site for details.
It includes a list of the documents prescribed by law in DOC format.

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