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Housing Legislation (Building Better Futures) Amendment Bill 2017: How operators could be affected  

The Queensland Government has introduced the Housing Legislation (Building Better Futures) Amendment Bill 2017 (Qld) into Parliament, which proposes amendments to the Retirement Villages Act 1999 (Qld) (in addition to other legislation regulating other forms of housing).

Key Proposed Changes

The Bill proposes a number of key changes, including:

  1. An 18 month buyback provision, requiring operators to pay outgoing residents their exit entitlement 18 months after the resident leaves, unless doing so would cause the operator undue hardship.
  2. Limitations on an operator's ability to close and redevelop a retirement village.  For example, operators wishing to engage in either activity will have to prepare a closure/redevelopment plan (as applicable) in accordance with the amended legislation, and have that plan approved by either the residents of the retirement village or the Department.   
  3. New and enforceable behaviourable standards, which will regulate the behaviour of operators, the staff of operators, and residents of a retirement village. 
  4. Changes to operators' budgeting and financial management obligations, including the preparation of village budgets and general service charges.
  5. New prescribed disclosure documents that an operator is required to give a prospective resident.

Find out more

Click here to access a copy of the Bill.

KKinny Legal specialises in retirement village law, and helps operators understand and respond to regulatory change.  To find out more about how we can assist you, click here to contact Jessica Kinny, Principal of Kinny Legal. 

This blog post does not constitute legal advice and should not be relied upon as such. It is a general commentary on matters that may be of interest to you.  Formal legal or other professional advice should be sought before acting or relying on any matter arising from this communication.