YOUR RIGHTS
Important Retirement Living Considerations
As a resident in a retirement village, you have important rights protected by the Retirement Villages Act. These include:
- Cooling-off periods for residence contracts
- Termination rights
- Access to dispute resolution processes
The retirement village industry is further regulated by a mandatory code of practice. This code governs how villages are promoted, sold, and operated, and all operators must adhere to it.
It’s also worth noting that many villages have their own set of day-to-day rules. While these aren’t legal requirements, your residence contract may stipulate that you agree to follow them during your stay.
AGE
Community and Age Group
Retirement villages are specifically designed to foster a vibrant community for older adults, and while they are marketed primarily to individuals aged 55 and over, it is noteworthy that the average entry age in Western Australia is actually 78, with the typical age of residents being around 80 years old.
CHOICE
Lifestyle vs Investment
Moving into a retirement village is primarily a lifestyle choice rather than an investment. Understanding the terms of your contract and what communal living involves can lead to a more satisfying experience. Industry surveys show that those who grasp these distinctions are generally pleased with their decision.
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