If you operate a retirement village you must lodge a retirement village notification.
A retirement village is defined as:
- An area where most residents are 55 years or over or are retired from full-time employment (or are spouses/partners of such people). Residents are provided with accommodation and services, other than the services provided in a residential care or aged care facility.
- At least one of the residents, as a contractual condition of entering the retirement village, paid an ingoing contribution that was not rent. It does not matter who made that payment or whether it was a lump sum or by instalments.
When land is proposed to be used as a retirement village, the owner must lodge a notice with the Registrar of Titles prior to entering into any contracts with residents.
Immediately after lodging a retirement village notice with the Registrar of Titles, you will need to lodge a retirement village notification with the Director of Consumer Affairs Victoria.