New Victorian legislation and forthcoming review

The Victorian government announced on 2 February that the Consumer Legislation Amendment Act 2020 has commenced. The Act amends the Residential Tenancies Amendment Act 2018, specifically to benefit the former residents of the Berkeley Living Retirement Village, who have been trying to recover funds as a result of the village going into liquidation in 2017.

Previously, former residents had to first take their legal action against the village owners to obtain repayment of the monies owing to them, before the Supreme Court could act. The changes remove the need for legal action to be taken against the retirement village owners by residents. You can access the full media release here. 

The Victorian Retirement Villages Act 1986 is currently under review to determine its effectiveness in providing consumer protection to see if this will allow growth and innovation in the sector. 

After stakeholder meetings an options paper outlining potential reforms is expected to be released for consultation shortly. We understand this review will, among a broad range of issues, examine exit entitlements.