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Retirement Villages Act 2016 - Key changes

The Retirement Villages Act 2016 came into force on the 1st January 2018.

The key changes are:

  • the introduction of a standard disclosure statement to improve transparency and clarity of residence contracts
  • the introduction of the mandatory repayment of an exit entitlement to a resident within 18 months of a resident vacating their residence, if it is not relicensed prior to this time
  • an increase in transparency of village funds including breaking down management fees, providing details of expected consultation with residents regarding the village budget and requirements to meet with residents' committees about finances
  • the review and increase of penalty amounts to deter contravention of the Act Penalty amounts now range from $750 to $35,000 for offences

Download a fact sheet providing more details about the changes.

The Retirement Villages Act 2016 is available to view at www.legislation.sa.gov.au.

View the COTA SA media release about the Retirement Villages Act

For more information:

Office for the Ageing
Department for Health and Ageing
PO Box 196 Rundle Mall
Adelaide 5000
Telephone: (08) 8204 2420
Email: Health.RVActReview@sa.gov.au
Web: SA Health Retirement Villages Act

 

COTA SA acknowledges the Kaurna people of the Adelaide Plains as the traditional custodians of the land our headquarters occupy. We also acknowledge all Aboriginal nations throughout South Australia. We honour Aboriginal peoples’ continuing connection to Country and recognise that their sovereignty was never ceded. We pay our respects to Elders past, present and emerging and extend that respect to all Aboriginal people.