These must be followed in dealing with any complaint. The recipe for the right retirement village is more than just location, facilities and price - it must include a contract that meets residents' needs and protects their financial future. The most common concern for people considering retirement village living is the range and complexity of schemes available. The latter especially, recognising baby boomers' looming demands, understand that retirees vary greatly in their needs, likes and dislikes, and that retirement living should not be like a minimum security prison with palms. Rather it is a lifestyle package for an increasingly discerning and affluent sector.
Schemes range from freehold title, to registered lease, to a licence to occupy a unit.
The different options present different ownership rights and costs. The new Queensland Retirement Villages Act 1999, which came into effect in 2000, significantly impacts on existing schemes, both for operators and residents, through its retrospective elements. It is vital to fully understand the schemes and their various costs or fees and when they are levied. In addition to the original purchase price, service charges are usually payable on a weekly or monthly basis and are levied to cover the costs of operating the village. An exit fee is usually payable when the resident is leaving the village and varies depending on length of stay.