RLC praises WA Govt’s consultation on Retirement Villages Act reforms

The WA Government’s proposed Retirement Villages Act reforms were top of the agenda at a forum hosted by the Property Council of Australia last week. Around 200 attendees turned out to hear discussion on the reforms, including a mandatory 12-month time limit on village operators paying exit entitlements to departing residents. According to Daniel Gannon, Executive Director of the RLC (pictured, centre right), the WA Government’s focus on consulting and engaging with industry is pleasing, even if the RLC does not agree with some of the proposed changes.

“It is critical we pursue constructive discussions about when the clock should start on buybacks, as well as the state government’s current plans for vacant possession,” he told The Weekly SOURCE in a statement. “While governments across Australia get excited about creating more hoops for businesses to jump through, the focus would be better directed at removing hoops and barriers, especially during a housing supply and affordability crisis. Governments need to work with industry to remove some of the barriers to bringing more stock to market.”

Once passed, the new laws will give operators 24 months to adapt, then a 12-month transition period to prepare for the new exit entitlement requirements.