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Retirement village owners promise to address long waits for refunds and review occupation rights agreements

Marta Steeman16:49, May 26 2021 unsplash Owners of retirement villages are promising to tackle long waits for refunds for residents’ estates when licences to occupy units and apartments are resold to other residents. Owners of retirement villages are making some concessions on issues upsetting residents and their families but not on the big one of sharing “capital gains”. The Retirement Villages Association, representing village owners, is promising to tackle long waits for refunds when residents leave villages and the licences to occupy units and apartments are resold. The owners’ association has also committed to reviewing occupation right agreements to ensure they are clear on the terms and conditions and the responsibilities between owners and residents, particularly for maintenance, repair and replacement of operator-owned chattels.

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