The Western Australian Government has taken action against a retirement village for failing to issue the appropriate documentation to prospective residents.
This is in stark contrast to Consumer Affairs Victoria who took no action for a similar situation but on a larger scale. The result being that residents in the rural Victorian village will receive a negative financial imposition in the collective order of $1.5m at present day values to the financial advantage of the operator of the same amount. Read the full story here :- Consumer Affairs Victoria asleep at the wheel?
In a February 7 2018 press release issued by the WA Department of Mines, Industry Regulation and Safety -
"The owner of a Mandurah retirement village has been fined $5,000 by the Perth Magistrates Court for failing to provide specific information to prospective residents prior to them signing contracts.
Under the Act, a prescribed ‘Form 1’ containing specific information relating to the retirement village, a notice of rights, a copy of the residence rules, a copy of any applicable code and any other prescribed documents are to be supplied by the retirement village owner at least ten working days prior to a contract being signed.
Commissioner for Consumer Protection David Hillyard said this requirement is designed to provide transparency in retirement village contracts.
“Getting the prescribed information and having its receipt acknowledged ensures that potential residents have all the information they need at their fingertips to make an informed decision,” Mr Hillyard said.
“Entering into a retirement village contract is a major lifestyle decision for our community and their families, so these laws are crucial to make sure potential residents have specific and essential information before signing.
“Failing to provide the information in the form prescribed by retirement village regulations is not acceptable and village owners who do not comply may face action by Consumer Protection.”"
Read the full story here:- Mandurah retirement village has been fined $5,000 by the Perth Magistrates Court
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