The NSW Government now has the authority to accumulate and publish relevant retirement village information and it means work is getting even busier.
NSW retirement village operators have been required to disclose the following information to the state government:
- Name, address and contact details for the retirement village and operator;
- Information about the Residents Committee (if any);
- The number of units;
- Residency type;
- Information about complaints handled internally by the village operator/s;
- Village contracts or pricing;
- Demographic information about residents and staff;
- Any other management and operation details.
Operators will also be required to collate and provide their updated information within one month of the end of subsequent financial years.
If operators do not comply with these requirements there is a potential penalty and on the spot fines. For corporations, this could mean penalties of up to $11,000 and on the spot fines of $2,200.
What’s the information for?
NSW Government has developed an online portal and operators have to open an account to have access. The portal is scheduled to be live for public use next year.