What do you think should be included in the Retirement Villages Disclosure Statement?
The Department is consulting on the style and content of disclosure statements for retirement villages. The consultation runs for 12 weeks and the closing date is 11 December 2009.
What is a disclosure statement?
A Retirement Villages Disclosure Statement provides intending residents with the information they need to make an informed choice about which retirement village, if any, to move into.
A disclosure statement has information about:
- whether or not the retirement village is mortgaged and, if so, by how much and who to
- the estimated financial return to residents, or their estate, at the end of their tenure
- weekly fees paid by residents.
Why are we consulting?
Government is committed to reducing red tape and compliance costs. The Department is reviewing the disclosure statement to determine if it can:
- be reduced in length (which would cut operators’ costs)
- retain the information, with less detail, that intending residents will need in order to choose a retirement village best suited to their needs.
We are inviting written comments from anyone with an interest in retirement villages. We are specifically interested in the views of operators, residents, lawyers and statutory supervisors.
Download a copy of the discussion document and submission form:
Submissions can be sent by
Post or courier to:
Retirement Villages Act Team
Regulatory Policy
Department of Building and Housing
PO Box 10-729
Wellington 6143
Fax to: (04) 494 0290
(please put ‘Retirement Villages’ in the subject line)
Email to: retirementvillages@dbh.govt.nz
Further information about disclosure statements
A disclosure statement is a compulsory document under the: