Fact sheets on village closures

The NSW Fair Trading department has produced a new fact sheet on the rights of retirement village residents if there are plans to close their village.

"An operator cannot wake up one morning and decide unilaterally to sell of the park," Fair Trading Minister Ms Reba Meagher-said during a visit to Gosford recently.

"Any talk of the park being sold off van be very stressful for elderly residents, especially when misinformation abounds.

"The Retirement Villages Act 1999 is very clear in this situation and provides a rigorous process which village operators must follow if they are planning to sell the village.

"Residents must be given at least 12 months' written notice of the operator's intention to apply to have their contracts terminated.

"After the period of notice expires, the village operator must then apply to the Consumer, Trader and Tenancy Tribunal for a termination order.

"If it comes to the worst and contracts are to be terminated, operators must help residents find accommodation of a similar standard elsewhere and compensate them for such things as removal and utility connection expenses."

Ms Meagher said the fact sheet outlined the rules involved in retirement village closures so both operators and residents knew where they stood when it came to the law.

A similar fact sheet was released earlier this year on the rights of caravan park residents when the operator wants to sell the land.

The fact sheets are available free from all Fair Trading Centres or by phoning 133 220,

Press release, June 12