From 1 January 2018, the Retirement Villages Act 2016 (SA) governs retirement villages, from entering into residence contracts, to meetings and consultation, residence rules, termination and exit entitlements.
What documents and information can a prospective resident expect to receive?
At least 10 days before a person enters into a retirement village residence contract, the operator of the retirement village must give the person a copy of the following:
- The residence contract
The disclosure statement
If the contract relates to a retirement village already established:
The financial statements presented at the last annual meeting of residents and a written statement of any subsequent changes
A copy of the minutes of the last 2 annual meetings of residents
The residence rules
The policy regarding remarketing of residences
Any code of conduct to be observed by the operator or residents, and
Any other document prescribed by the Retirement Villages Regulations 2017 (SA)
[Retirement Villages Act 2016 (SA) s 22]
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