NSW residents are being urged to have their say on retirement village reforms.
NSW Fair Trading is seeking public comment on draft changes designed to make the process easier for operators and people moving into retirement villages.
The reforms will look at amendments to help cut red tape for operators and improve protection for residents.
Among the proposed changes is a requirement for greater transparency in contracts.
Other key reforms include allowing residents to introduce new matters regarding village rules; requiring clearer information in annual budgets around head office expenses; requiring operators to forecast budget expenditure accurately and not rely on contingencies.
The reforms will also look at modernising the way documents can be served, including via email.
- Submissions close on July 20 - www.fairtrading.nsw.gov.au
