Inquiry into the Retirement Housing Sector

Inquiry into the Retirement Housing SectorThe Property Council has submitted to Parliament’s Inquiry into the operation and regulation of the retirement housing sector.Under the Inquiry’s terms of reference, the Legal and Social Issues Committee of the Victorian Parliament is seeking to ensure there are: proper consumer protections in place; adequate dispute resolution procedures; fair pricing and consistent; simplified management standards and regulations across the sector.Our submission addresses the following areas:Existing legislation;Reform in other Australian and overseas jurisdictions;Experiences and views of retirement housing residents; and,Impact of local government rating on retirement housing.Even though the retirement village sector has recently been through a review, has high satisfaction ratings and relatively few complaints, the Property Council is aware that there is appetite for further reform to dispute resolution processes. Consequently, we encourage the Inquiry to consider a model with an advocate like that of South Australia. We believe this reform will complement our current system and provide stakeholders with peace of mind.We look forward to working with the Committee throughout the Inquiry process.The submission can be downloaded from the following link. Should you have any questions about the submission, please contact the Property Council team at 03 96 8300.