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Webinar replay: Retirement Living Webinar - NSW Retirement Living Reforms announced on 24 June 2020: What this means for operators.

Webinar Replay

 

Please note, in the webinar repay between 12:20 to 15:40 (slide 7), in the slide title it refers to ‘45 Day’. This should read ’42 Day’.

Download the webinar presentation slides (PDF) here.

On 24 June 2020, the NSW Government announced its final position in relation to the reforms to the retirement living sector announced in 2019. The Government states that its reform seeks to establish a balanced framework to outline both parties’ obligations when a resident leaves their home and the premises is on the market. However, what does this mean for operators and what do you need to know?

In this webinar, our experienced retirement living team discuss how this will affect operators in relation to compulsory buy-back of units, capping recurrent charges when a registered interest holder moves out and supporting residents’ transition into aged care.

These NSW reforms may impact upon the liquidity of operators, debt financing for developing villages and resale prices of units - which is covered in the session. 

This webinar provides an overview of the proposed NSW Government reform and how it may impact your operations. 

Our panelists also covered:

  • The timeframes for compulsory buy-backs, if the operator has not unreasonably delayed the sale
  • Registered interest holders’ recurrent charges capped at 42 days
  • How operators can facilitate a seamless transition into aged care
  • The crucial differences between the discussion paper released in July 2019 and the proposed reforms made on 24 June 2020
  • Implications these reforms will have on the liquidity and governance of operators

The webinar was presented by Donna RaynerRosemary SouthgateRohan HarrisSylvia Mansour and Lee Be.

How we can help

If you require any further information on this topic, please contact Rosemary SouthgateDonna RaynerRohan HarrisSylvia Mansour or Lee Be.

For more information, we encourage you to visit our Retirement Living page which are updated regularly with insights and materials.

You may also like to subscribe to our mailing list here to stay up to date with our Alerts and upcoming events.

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