retvilldotnet: Look Before You Leap Into Retirement Villages

Wednesday, 22 January 2025

Look Before You Leap Into Retirement Villages

When it comes to Victorian retirement villages the old adage of Look Before You Leap has never been more true.

The new Jacinta Allan, Nick Staikos, Consumer Affairs Victoria operator centric 2025 version of the retirement villages act makes it even more imperative.

Research, research, research, the best outcome may be to not leap at all.

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Function of Government

The role of government is to create an environment for commerce to function whilst at the same time protecting retirees and particularly vulnerable retirees from both financial and emotional harm emanating from that function.

The Victorian Retirement Villages Act 1986 provides the environment for commerce to function but fails to fully protect retirees from financial and emotional harm as a result of it.

The Victorian legislative definition of a retirement village in demanding the payment of an 'in-going' amount without the transfer of property ownership is a major contributor to that financial and emotional harm suffered by retirees.