Victorian Current Acts

RETIREMENT VILLAGES ACT 1986 - SECT 32B

    (1)     An owner resident of a retirement village may—

        (a)     set the sale price of his or her premises in the village; and

        (b)     appoint a selling agent of the owner resident's choice (who may be the manager of the village if the manager is eligible to be appointed).

    (2)     If the manager of a retirement village is appointed to act as the agent of an owner resident of the village in the sale of that owner resident's premises, the owner resident may allow (but is not obliged to allow) the manager to set the sale price of the premises.

    (3)     Any appointment of the manager of a retirement village, or a person chosen by the manager of a retirement village—

        (a)     to act as the agent of an owner resident of the village in the sale of the owner resident's premises; or

        (b)     as the person who sets the sale price of any such premises—

being an appointment made as part of the consideration for the owner resident entering the village, or otherwise at the manager's request, is void.

    (4)     A manager, or a person chosen by a manager, who is appointed as an agent for the sale of the premises of an owner resident under subsection (1) must, if the owner resident so requests, provide the owner resident at the end of each named month with a report—

        (a)     detailing the marketing program (including details of all advertising of the premises or the village); and

        (b)     listing all inquiries about the sale; and

        (c)     providing the names and telephone numbers (or other contact details) of the persons who made the inquiries (in so far as these are known to the manager); and

        (d)     providing details (including the asking price) of all other residential premises for sale in the village—

during that month.

Penalty:     60 penalty units.

    (5)     If a person, other than the manager, is appointed as an agent for the sale of the premises of an owner resident in a retirement village, the owner resident must notify the manager in writing of—

        (a)     the name and contact details of the person who is so appointed; and

        (b)     the asking price for the premises; and

        (c)     any changes to—

              (i)     the appointment and contact details; and

              (ii)     the asking price for the premises.

Penalty:     60 penalty units.

S. 32C inserted by No. 4/2005 s. 10.