Pre Contractual Disclosure Booklet


Before you sign make sure you receive all the required information

Retirement Villages vary greatly, some provide a full range of services and amenities and care facilities while others simply provide accommodation.
 
To help you decide whether to sign a residence contract with a particular retirement village, you must receive:
 
  • A copy of the current Code of Fair Practice for Retirement Villages.
     
  • A pre-contractual statement that provides accurate information about the costs payable to enter the village as well as ongoing charges or fees payable by the residents and the method of determining these.
     
  • A list of questions with answers, provided to you in Form 1 (Information Statement) of the Retirement Village Act 1992 by the owner/operator of the village.
     
  • Details of existing and proposed future amenities and services in the village.
     
  • A copy of the rules of the village, which may include limitations on visitors, pets, use of common areas, parking or gardening.
     
  • Information about your rights, including the ‘cooling off period’ of 7 working days from the date the contract was signed.
     
  • If applicable, a copy of the by-laws of the body corporate and an authority to inspect any document or record held by the strata company.
     
  • Financial information about the village, depending on whether it is established or under construction.
 
It is important to note also, that to help you to decide whether to sign a residence contract with a particular retirement village, you must receive the documents at least ten working days before the contract is signed.