PUBLIC consultation is now open on the NSW government's inquiry into the retirement village sector led by Kathryn Greiner.
The inquiry will look at concerns raised about the fairness and transparency of business practices of retirement villages in NSW, and includes:
- transparency and honesty of marketing activities
- clarity of fees and contractual rights and obligations for prospective residents and their families
- suitability and fairness of village maintenance and operational practices to maintain resident safety
- availability and cost-effectiveness of dispute resolution mechanisms
- fairness of arrangements to levy maintenance fees to maintain the village and address building defects.
The inquiry will also look at opportunities to improve Fair Trading's administrative and operational practices that could help address unfair practices.
Community forums will be held in Sydney, Hornsby, Ballina, Port Macquarie, Newcastle, Wollongong, and Wagga Wagga.
Residents and other interested parties can make a submission to the inquiry via the Department of Fair Trading's website
Submissions close on October 31 and the final report and recommendations are due to be completed by December 15.