What must be included in the residence contract?
A residence contract must include the name and contact details of the operator of the retirement village, details about the particular residence the person will reside in, and the resident’s rights and obligations under the contract, including [Retirement Villages Act 2016 (SA) s 20]:
- The right to cool off (to rescind the contract and not proceed with becoming a resident in the retirement village)
- Under section 24 of the Act, a prospective resident is entitled to rescind the residence contact (cool off) within 10 business days after the day they signed the contract, unless they occupy before the end of that period and sign a written waiver of their right to cool off.
- If a person wishes to cool off, they must do so in writing to the operator.
- The right to occupation of the residence
- Recurrent charges the resident must pay
- The right to terminate occupation and receive an exit entitlement
The contract should also include information about:
- additional services and facilities available to residents and the cost of them
- who will be responsible for repairing or replacing fixtures, fittings and furnishings in the residence and how the cost is to be covered, and
- anything else prescribed by the Retirement Villages Regulations 2017 (SA)
Warranty as to Accuracy of Information
A residence contract is taken to be correct (subject to any written change made by the operator with the consent of the resident on or before signing the contract), unless the resident elects not to rely on its correctness.
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