Managing a retirement village

This checklist will help you follow the retirement village laws and create a resident-friendly environment.

1. Compliance with retirement villages laws 

• Understand and comply with:
  • Retirement Villages Act 1992 (WA):
  • Retirement Villages Regulations 1992 (WA):
  • Fair Trading (Retirement Villages Code) Regulations 2022
• Ensure all residence contracts align with the law and are clear about residents’ rights and obligations

2. Pre-contract disclosure 

• Provide prospective residents with the disclosure statement at least 10 days before signing a contract (under Section 13 of the Act).
• Provide financial details, fees, charges, and termination rights in the pre-contract information.
• Make sure the key terms document (Schedule 1) is provided with all new residence contracts.

3. Residence contracts 

Ensure resident contracts follow the latest retirement village laws. This includes:

• Description of the services and facilities provided.
• Terms related to exit fees, recurrent charges, and other costs.
• Details of how and when residents can end the contract.
• Information about the cooling-off period (7 working days) and termination conditions.

4. Financial management

• Prepare and present annual financial statements to residents at the Annual General Meeting.
• Hold a budget meeting before the end of each financial year to approve the next year’s budget.
• Provide residents with financial reports, including budgets, recurrent charges, and surpluses.

5. Meetings and resolutions

• Call Annual General Meetings (AGM) within 5 months of the financial year’s end.
• Provide written notice at least 10 working days before any meeting.
• Ensure a quorum is present for meetings.
• Ensure special resolutions are properly managed and documented.

6. Residents’ committee 

• Support the formation of a Residents’ Committee. Attend when invited.
• Respect the committee's role in representing residents.
• Allow for  decision-making on relevant village issues.

7. Complaint handling and dispute resolution

• Set up a clear complaint resolution process that follows the Retirement Villages Code.
• Ensure residents are aware of their right to escalate unresolved disputes to the State Administrative Tribunal (SAT).

8. Termination and exit procedures 

• Ensure residents are aware of their rights to end their contract.
• Ensure termination is only done with resident consent or under SAT order.

9. Exit fees and recurrent charges 

• Clearly explain exit fees in the residence contract, ensuring they are fair and transparent.
• Communicate and calculate recurrent charges accurately. Inform residents of any changes or increases.

10. Maintenance and safety 

• Keep the village well-maintained and conduct regular safety inspections.
• Ensure facilities and services align with what is promised in the residence contracts.
• Follow safety and accessibility standards.

11. Notices and documents 

• Ensure all important notices, including financial reports, meeting invitations, and dispute decisions, are provided in writing to residents.
• Keep records of all correspondence, agreements, and resident communications.

Prohibited persons 

Certain people are prohibited from running a retirement village unless they have an exemption certificate from the Commissioner. This rule ensures people managing the village do not pose a risk to the residents’ wellbeing and financial interests.

There are guidelines for applicants  which cover the process for getting an exemption.

Reform forms and changes 

The table below shows a list of forms being released with each stage of the reforms. The table will be updated as the stages progress.