The retirement villages industry has changed, introducing new risks and challenges for residents. Now, the Victorian Government is reviewing the law on retirement villages to address shortcomings in the sector and foster innovation.
Innovation is not just for the young. Today we meet two people who celebrate being 70 by creating their own TV shows with friends. What started with basic information about their retirement village now includes exercise classes, films and special entertainment events.
The current review as a once-in-a-generation opportunity to overhaul the regulatory framework for retirement villages in Victoria. We have the chance to future-proof this legislation, and lead the nation in terms of retirement village regulation, which will enhance resident confidence in the sector.
Unfair contracts, exit fees and standards are among the problems COTA Victoria wants addressed through the long-awaited review of the Victorian Retirement Villages Act. We believe the Act is no longer fit for purpose and requires an overhaul to meet the needs and expectations of ageing Victorians.
The Victorian Retirement Villages Act (RVA), 1986, is under Review. COTA Victoria believes the RVA is no longer fit for purpose and requires an overhaul to meet the future needs and expectation of ageing Victorians.
We welcome Consumer Affairs Victoria’s (CAV) interest in improving internal dispute resolution processes in retirement villages, and believe that the reforms suggested will likely result in some improvement.
This is a joint submission to the parliamentary inquiry into the retirement housing sector, which represents a unique opportunity to progress much needed reform of Victoria’s retirement housing sector.
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