Millions of dollars for operators have been saved on village acquisitions and capital gains through the removal of a double taxation threat and a change to make resident capital growth payments tax deductible.
To ensure retirement village manager skills and capabilities are consistently high, in 2015 the Property Council developed and launched the Village Management Industry Diploma. The Diploma is a dedicated training course for managers which, for the first time, recognises and develops their diverse skillsets in customer service, budget management, compliance, human resources, to help them effectively manage their village communities.
In 2018, the Property Council also launched dedicated training courses for sales managers, to help them know their obligations and teach skills on selling retirement living effectively.
FILLING THE GAPS
To remedy a lack of data about baseline information or trends in retirement living, the Property Council has partnered with PwC to create the PwC/Property Council Retirement Census, launched in 2015.The Census will become the touchstone for domestic and international investors, featuring data on average length of tenancy, age of entry, finance and payment models, entry prices and much more.
The Property Council commissioned research, which for the first time modelled the economic value of the retirement living sector and the savings to government delivered by the care and services on tap in retirement villages; this is just part of a research agenda that to date has encompassed planning reform, supporting residents with dementia, and quantifying the savings to aged care and hospital budgets as a result of the retirement village sector.
Through the reach of the Property Council, productive relationships have been built with relevant ministers, government departments and backbenchers at a state and federal level to ensure the voice of the retirement living sector is heard and understood.
The Property Council is committed to showcasing positive initiatives - supporting those in our villages and Future Leaders from all parts of the retirement sector. We have expanded our awards program and now recognise excellence in the categories Village Manager of the Year, Future Retirement Living Leader, Design Excellence, Innovation, Marketing Excellence and Best Refurbishment. Our annual National Retirement Living Summit hosts hundreds of delegates from the industry – an innovative and exciting forum for knowledge sharing and creating networks.
PROMOTING VILLAGE LIVING
The Property Council is an active public advocate of retirement living and seeks regular opportunities to promote and educate about the work of the sector. In 2018, the Property Council with its members developed the 'A Wise Move' campaign to create awareness about retirement living, explain the differences with aged care and the steps to take to make a wise move into retirement living with peace of mind and certainty
ENSURING HIGH QUALITY VILLAGES
The Property Council created and supports the Australian Retirement Village Accreditation Scheme (ARVAS), an independent accreditation pathway for villages to achieve and sustain quality in all aspects of their operation and management, to ensure residents have peace of mind about their village experience. ARVAS follow the Retirement Living Code of Conduct which was released in 2018.