The Retirement Villages Association is calling out the Government for issuing a double whammy against the sector.  

Newly announced Retirement Villages Act 2003 amendments include ensuring money on a unit is paid back within a year after a resident leaves.   

Interest will also be payable after six months if a unit remains empty.   

Association Executive Director Michelle Palmer told Ryan Bridge the moves could seriously jeopardise the sector.  

She says they were the ones who suggested the interest element, which the Government has taken and then topped with the full repayment at 12 months. 

LISTEN ABOVE 

The Retirement Villages Association is calling out the Government for issuing a double whammy against the sector. &nbsp;
Newly announced Retirement Villages Act 2003 amendments include ensuring money on a unit is paid back within a year after a resident leaves. &nbsp;&nbsp;
Interest will also be payable after six months if a unit remains empty. &nbsp;&nbsp;
Association Executive Director Michelle Palmer told Ryan Bridge the moves could seriously jeopardise the sector. &nbsp;
She says they were the ones who suggested the interest element, which the Government has taken and then topped with the full repayment at 12 months.&nbsp;
LISTEN ABOVE&nbsp;

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

Early Edition with Ryan Bridge

Michelle Palmer: Retirement Villages Association Executive Director on the amendment of the Retirement Villages Act 2003

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/fe76552a-f23e-476a-be3c-b3a9015b7778/transcript

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