Retirement Village
Moving to a retirement village is one of the most important decisions you may need to make.
Hefferan & Co Solicitors, specialise in retirement village law in Queensland, guiding seniors and their families through these complex agreements with confidence and clarity.
Whether you’re signing or terminating a contract, our experienced solicitors offers you expert legal advice in plain English, helping you understand exactly what you’re signing for.
Queensland Retirement Village Contracts
Retirement village contracts are unlike standard property transactions. They’re governed by the Retirement Villages Act 1999 (Qld) and involve unique financial arrangements that can be difficult to calculate without expert guidance.
Most prospective residents find it challenging to understand:
Ongoing costs: Your fortnightly contributions to the General Services Charge (GSC) for management and operations, and the Maintenance Reserve Fund (MRF) for building upkeep and repairs.
Exit entitlements: How much you’ll actually receive when you leave the village, after deductions for unit restoration, legal fees, buyer-finding costs, and the exit fee – a percentage of your original purchase price retained by the village operator.
Capital gain or loss sharing: How any increase or decrease in your unit’s value is divided between you and the operator, which can vary depending on whether your name appears on the title deed.
These aren’t simple calculations, and getting them wrong could cost you tens of thousands of dollars. That’s why independent legal advice from solicitors who specialise in retirement village contracts is essential before you sign.
Major Changes to Retirement Village Laws in Queensland (2025)
Queensland’s retirement village legislation has undergone significant updates, affecting both new and existing residents. Understanding these changes is crucial when reviewing any retirement village contract.
Stronger Financial Reporting Requirements for Village Operators
From 1 July 2024, the Retirement Villages (Financial Documents) Amendment Regulation 2024 introduced enhanced disclosure requirements that provide greater transparency around how your money is managed.
Village operators must now provide:
Detailed budget breakdowns: Separate line items showing different income sources (resident contributions, operator contributions, and other revenue streams).
Itemised expenditure: For general services charges, operators must list specific costs such as auditing, cleaning, electricity, insurance, and any other material expenses.
Regular financial statements: Improved quarterly and annual statements with clearer information about how funds are allocated and spent.
These changes give you better visibility into what you’re paying for and how the village manages its finances. When reviewing a residence contract, you should now expect – and request – this detailed financial information to make an informed decision.
Permanent Exemption from Dual Regulation
On 13 June 2025, registered retirement village schemes were permanently exempted from the Residential Services (Accreditation) Act 2002. Previously, villages operated under a temporary exemption that was set to expire on 30 June 2025.
This change provides certainty that your retirement village is governed solely by the Retirement Villages Act framework, rather than facing dual regulation. While this reduces regulatory complexity for operators, you should still understand your rights under the RV Act and ensure your contract reflects those protections.
Ongoing Reforms to Exit Payment Timeframes and Transparency
The Queensland Government continues to review retirement village legislation, with particular focus on:
Exit payment timeframes: Ensuring operators pay former residents their exit entitlements within reasonable periods after vacating or resale.
Clearer contract disclosures: Making sure prospective residents understand their ingoing contribution, ongoing fees, exit fees, and how all charges are calculated before they commit.
Stronger resident protections: Ensuring contracts reflect residents’ rights under the Act, including valuation processes, resale procedures, and dispute resolution mechanisms.
These reforms aim to protect residents from unreasonable delays in receiving exit payments and ensure you have all the information needed to make sound financial decisions.
What You Must Check in Your Retirement Village Contract
Given the recent legislative changes and the complexity of retirement village agreements, our solicitors ensure you understand these critical elements before signing:
Financial Transparency and Ongoing Costs
Does the operator provide current budgets with clear breakdowns of income and expenditure, particularly for general services, the maintenance reserve fund, and capital replacement fund? Your contract should specify exactly what ongoing charges you’ll pay and how they’re calculated.
Exit Fees and Entitlements
This is often the most misunderstood aspect of retirement village contracts. You need to know:
- How your exit fee is calculated (usually a percentage of the ingoing price, sometimes increasing over time)
- When the exit entitlement becomes payable (upon vacating, resale, or after a set period)
- What deductions apply (restoration costs, marketing fees, legal expenses)
- Whether you share in any capital gain or loss, and on what basis
- The timeframe for receiving your exit payment
Accommodation Model and Rights
Queensland retirement villages operate under different models – lease, licence, or freehold. Each structure affects your rights differently, including:
- Your security of tenure
- Your ability to make modifications to your unit
- How the “right to reside” works legally
- What happens if you need to transition to aged care
Regulatory Compliance and Documentation
Your contract and information pack must be up to date with 2024–2025 regulations. You should have access to:
- Recent financial statements and audit reports
- Quantity surveyor reports where required
- Clear explanations of your rights under the Retirement Villages Act
- Dispute resolution procedures.
Why Choose Us for Your Retirement Village Legal Needs?
- Trusted Local Experts since 1993 - Our two Brisbane southside offices have been serving the local community for over 30 years.
- Genuine Care for Senior Citizens - Our staff live locally and have a genuine concern for senior citizens & local issues.
- Free Initial Phone Consultation - We offer you the opportunity to discuss your situation, and ask questions first free of charge.
- Fixed-Fee Pricing - We honour our word with a written, up-front estimate of our legal service fees that does not change.
- Fast, Efficient Service - We are committed to finalising matters within two weeks of receiving your instructions.
Get Expert Legal Advice from HEFFERAN & CO
Whether you’re considering signing a retirement village contract or need legal assistance terminating your agreement, the team at Hefferan & Co. Solicitors is here to help.
Don’t let the size and complexity of retirement village documents overwhelm you. Our experienced solicitors will review your contract, explain your rights and obligations in plain English, and ensure that you understand the financial implications before you commit.
Contact Hefferan & Co. Solicitors today for your free initial consultation and fixed-fee estimate. Let us guide you through your retirement village contract with confidence and peace of mind.