Retirement code of conduct to revitalise industry
THE revitalisation of the retirement sector has taken a major step forward after the launch of a new code of conduct described as "vital for the industry".
And retirement operators are being urged to sign up now!
The Retirement Living Code of Conduct is the product of the combined efforts of two of the sector's peak bodies - the Retirement Living Council (which is part of the Property Council of Australia) and Leading Age Services Australia (LASA).
Both organisations represent retirement operators across Australia.
The code has been formulated on consultation with retirement operators, residents and other interested stakeholders, was created to operate within state and territory laws and is expected to take full effect from January 2020.
LASA CEO Sean Rooney said the code would "set standards above and beyond statutory obligations".
"The code covers all aspects of a resident's experience in a retirement community: from signing the contract to enter the community, their on-site experience of living in the retirement community, their decision to leave the community and then right through until the resident's unit or apartment is re-sold," Mr Rooney said.
"The code is vital for the industry to set high standards for the marketing, selling and operating retirement communities, to promote and protect the interests of residents, and provide a clear framework for resolving disputes should they arise."
Retirement Living at the Property Council of Australia Executive Director Ben Myers said the code will help establish "certainty and transparency" for residents.
"The vision of the Retirement Living Code of Conduct is to promote and protect the independence, privacy, dignity, happiness, safety and security of retirement village residents," Mr Myers said.
"With approximately 2300 retirement villages across Australia accommodating residents, the Retirement Living Code of Conduct is critical to ensuring that the retirement living industry can provide current and future residents with an exceptional quality of service."
From January 2019, all retirement village operators will be able to subscribe to the code at www.retirementlivingcode.com.au. To ensure signatories meet the code's standards and that appropriate resources are in place to support the code's administration, the code will operate in a transitional stage until 31 December 2019.
From 1 January 2020, residents will be able to make a complaint against a code signatory if they believe their community is not meeting the code standards.
A copy of the Retirement Living Code of Conduct can be downloaded here