Annastacia Palaszczuk’s Government has announced it is seeking further feedback before addressing consumer concerns with the state’s over-55s lifestyle communities and lifestyle resorts.
The Government, which is also reviewing its Retirement Villages Act, is concerned with the Manufactured Homes (Residential Parks) Act 2003. The issues are:
- Site rent, and
- Unsold homes.
“We want to hear from home owners, park owners and other community members about options to deliver improvements for residential (manufactured home) parks,” a statement from the Department of Communities, Housing and Digital Economy stated.
Residential park residents own their home and rent the land the home is positioned on from the park owner under a site agreement.
A Consultation Regulatory Impact Statement and summary document have been made available.
Unless submissions are made, the Impact Statement states its preferred options are to:
- Require residential parks to publish a comparison document,
- Simplify the sales and assignment process,
- Limit site rent increases to a prescribed basis,
- Prohibit market rent reviews,
- Limit site rent increases to the higher of CPI or a fixed percentage,
- Require maintenance and capital replacement plans, and;
- Establish a limited buyback and site rent reduction scheme.
“Solutions to ensure that homeowners can easily understand the likely future costs of site rent and the impact on their budget are needed to ensure consumers can make good decisions about their retirement living options, to manage the risks of housing insecurity or homelessness for vulnerable ageing consumers, and to prevent declining confidence in residential parks,” said the Impact Statement.
Submissions close on 26 June.