New data demand from NSW Government for village operators

The NSW Government has passed the Retirement Villages Amendment (Operators Obligations) Regulation 2022, which requires certain information from operators on or before 30 September.

“This Regulation is part of the NSW Government’s response to the 2017 Greiner Inquiry into the NSW Retirement Villages Sector and addresses concerns over the lack of transparency of critical retirement village data needed by the regulator and consumers to make decisions,” NSW Fair Trading said in a statement.

The following information is required by the Department of Customer Service:

• Name, address and contact details for the retirement village and operator;
  
• Information about the Residents Committee (if any);
  
• Number of units;
  
• Residency type;
  
• Information about complaints handled internally by the operator;
  
• Village contracts or pricing;
  
• Demographic information about residents and staff, and
  
• Other management and operation details.

Operators are also required to submit the annual data within one month of the end of the financial year. If any of the information changes, they are expected to provide updated data within 21 days of the change.