Retirement village Articles
Termination of the Retirement Village Contract Due to Illness
June 5th, 2018 by | Jason Meyer, Retirement Villages
Retirement villages provide accommodation for older people who wish to live independently but in a communal setting. It is important to understand that a retirement village is not an aged care facility and is not suitable to accommodate people with dementia or other illness where a high level of care is required. Residents who become… Read more »
Retirement Village Deferred Management Fees
May 29th, 2018 by | Retirement Villages
A Retirement Village Deferred Management Fee (“DMF”) is the single largest expense associated with a retirement village contract. Because it is such a large expense it needs to be properly understood. What is a Deferred Management Fee? The DMF is the fee charged by the retirement village operator to generate income. That income is used for… Read more »
Legal Advice for Retirement Village Contract
May 8th, 2018 by | Retirement Villages
Is it necessary to obtain legal advice before signing a Retirement Village contract? A prospective resident will notice a statement on the Retirement Village contract documents recommending that legal and financial advice be obtained. This statement must be included to comply with South Australian legislative requirements (Retirement Villages Act, 2016 – s21(2)(c)(iii)). The statement alludes… Read more »
Retirement Village Contracts in South Australia
February 19th, 2018 by | Property & Leases, Retirement Villages, Wills & Estate Planning
Retirement Villages are increasingly becoming a preferred mode of accommodation for senior Australians. In South Australia the Retirement Villages Act 2016 came into force on 1 January 2018. The new Act sets out the rights and obligations of residents and retirement village operators, and specifies information which must be provided to a prospective resident in… Read more »
