Daniel Gannon (pictured below right), Executive Director of the Property Council of Australia’s retirement living advocacy team wants two changes to the proposed amendments to the 2004 Act in the Apple Isle.
The Retirement Living Council (RLC) supports Attorney General Elise Archer’s bid to only allow recurrent fee increases above CPI in specific circumstances.
However, Daniel has told the review that the RLC recommends a special levy can be imposed by a ‘majority’ vote of residents, not 75% as cited by the Government as an example.
“The RLC supports the introduction of increased obligations on operators to explain the reasons for recurrent charge increases as part of the annual budgeting process. This speaks to industry’s support of increased transparency,” he said.
The RLC wants to see maintenance, insurance and utilities (water, power and telecommunications) included in the exclusions for recurrent charges.
He added that retirement units in Tasmania are on average 32% cheaper than similar residential housing options in the same suburb. Nationally, the discount is 48% per cent, meaning retirement units are more affordable in other jurisdictions.
“The RLC notes that increasing stock will see this gap close. However, data shows that continued strong demand for retirement communities in Tasmania is outpacing supply, with current villages effectively operating at full capacity. Concerningly, Tasmania has no new developments noted over the next three years,” Daniel added.
The SOURCE: The Retirement Living Council has to protect its members and legislation backing residents.
