Kathryn Greiner advises NSW residents on changes to the Retirement Village Act ahead of implementation on 1 July 2019

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The former first lady of NSW and current Retirement Village Ambassador for the state (pictured) was “the official shoulder to cry on” for residents concerned about exit fees they may face when leaving a village, speaking at a forum in Dubbo (390 kilometres north-west of Sydney) last week.

She advised prospective residents that clear product disclosure statements should be provided by operators under changes to the RVA, which came into effect yesterday.

“From the first of July residents will be able to ask for an annual review of their contract,” Mrs Greiner said. “They have to put that request in writing and we strongly recommend that they have a family member with them or whoever holds power of attorney. 

The ambassador also reported “debate” with the retirement industry over mandated buybacks in NSW – supporting residents’ cash injection into a unit being returned “at the very latest six months after they have left the village” regardless of whether it had been leased again.

According to Mrs Greiner, the NSW government is also looking at “capping at six weeks” maintenance fees paid by residents after they move out.

“We are trying to bring about clarity and transparency”, she said.

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