With retirement living development burgeoning on the Fleurieu, new retirement village laws came into effect this month, introducing strengthened consumer protections for both residents and operators.

The Retirement Villages (Miscellaneous) Amendment Act 2024 delivers clearer rights and responsibilities for residents and prospective residents, and provides more consistent, practical guidance for operators across the sector, according to the state government.

It says residents will benefit from greater transparency, fairer processes and improved access to information, supported by strengthened compliance and monitoring measures designed to lift standards and ensure better outcomes across the retirement village experience.

Additional consumer protections for current retirement village residents include:

• Caps on some fees, including the amount that can be deducted from a resident’s exit entitlement as a contribution towards a capital fund, and increases to recurrent charges in some circumstances.
• A reduction of the maximum time for the repayment of exit fees (from 18 months to 12 months + 30 days).

Key changes include:

• Better transparency in contracts and disclosure statements for prospective residents.
• Enhanced codes of conduct for retirement village operators, staff, and residents.
• Stronger emergency planning and safety standards.
• Updated and strengthened processes for consultation with residents and dispute resolution
• Clearer guidelines for making changes to residence rules.

Daniel Gannon is Executive Director of the Retirement Living Council of Australia.

“These reforms bring retirement village laws into line with what residents expect – clearer information, stronger protections and greater confidence when making significant life decisions,” he says.

“The Retirement Living Council has worked closely with the Office for Ageing Well to strike the right balance – strengthening consumer protections while ensuring retirement villages remain great places to live and operate.”

As of 2 February, prospective residents will also benefit from the new Retirement Villages Register, which allows them to easily search for retirement villages by location and access key information about each village.

The Register provides details such as village size, contract types, and other essential features, helping older South Australians make more informed decisions when considering a move into a retirement village.

Residents, potential residents and operators can gain information and resources about the changes online.