Inquiry into the NSW Retirement Village Sector Report

This report presents the Inquiry into the NSW Retirement Village;s findings and makes 17 recommendations to improve the legislative framework for retirement villages and the operational practices of both the industry and the regulator, NSW Fair Trading. It recommned that the operation of the retirement village sector be improved in three key areas: - increasing the transparency of exit fees and contracts - clarifying the funding arrangements for ongoing maintenance costs which are shared between residents and operators - providing more support for residents to pursue disputes with operators (in addition to reducing the potential for disputes to arise).