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Supplied Peter Carr, president of the Retirement Villages Residents Association of New Zealand, says residents want to level the playing field with retirement village owners. Retirement village residents have put pen to paper and fingers to keyboards in their hundreds to back a major revamp of the law governing retirement villages. A key bugbear up for debate are residents, or their families or estate, not sharing in the capital gain on units when the residents pass away or go into care. Most village owners keep the capital gain when the unit is resold. President of the Retirement Villages ...

The Retirement Villages Association says there's a flip-side to residents not being paid capital gains on their units

One major concern was contract terms that made residents responsible for the costs of repairs despite having no ownership rights to their unit.

Association minister of housing Poto Williams. Photo: RNZ /Dom Thomas The bodies which represent the residents and the providers respectively disagree over whether the law - as it stands - is fair. Retirement Village Residents' Association national president Peter Carr said the contracts "absolutely" needed to be reworked. But Retirement Villages Association chief executive John Collyns disagreed with that. "There are some aspects of the law which we think could be addressed, but by and large, we think the law is fair," Collyns said. "It balances operators' responsibilities with residents' r...

Photo: 123RF Consumer NZ has reviewed the contracts offered by six major companies including Bupa, Ryman Healthcare and Summerset. Chief executive Jon Duffy said retirement villages promised the good life in your golden years, but the review showed the agreements people must sign unfairly favoured the village. Duffy said a major concern were contract terms that made residents responsible for the costs of electrical or plumbing repairs even though they had no ownership rights to their unit. Many also faced significant financial losses when their unit was sold because they did not get any capit...