The RVRA is using the change.org petition – complete with video – to propose changes to the Retirement Villages Act (RVA), including existing and future village contracts, to be delivered to the NSW Minister for Innovation and Better Regulation Matt Kean.
The letter outlines a number of changes including:
- Basing exit fees on the buy-in price of units instead of the selling price;
- Changing Registered Interested Holder Clauses so departing residents receive their refund sooner;
- Reversing the decision that makes external painting the responsibility of residents; and
- Ensuring quotes for capital works are supplied and allocated against specific maintenance projects.
RVRA President Tom Gait tells us that the current petition is one of a number planned to reach families of residents.
“Families need to be aware that what we are talking about here is the transfer of intergenerational wealth, not to families, but into the pockets of large multinationals. Shame about elderly people not having enough money for aged care,” he said.
