Retirement villages
Retirement villages are governed by the Retirement Villages Act 2003. The Act strengthens consumer protection for residents and intending residents, providing a regime to control and monitor retirement village operators. Any facility operating as a retirement village must be registered on the Retirement Villages Register.
Retirement Villages
A retirement village contains two or more residential units to provide residential accommodation with services and/or facilities. Retirement villages are mostly inhabited by people who are retired and their spouses.
Residents typically agree to pay a capital sum for the right to live in a unit in a registered retirement village. The agreement can take several forms, such as a license to occupy, freehold, leasehold, cross-lease or unit title.
(A capital sum can also mean periodical payments, if the sum is substantially more than would be paid to cover rent for similar services or facilities.)
Intending residents must seek independent legal advice, and are strongly encouraged to seek financial advice to ensure they fully understand the type of retirement village obligations that they're entering into.
In this section
-
Retirement Villages Act and
The Retirement Villages Act 2003 strengthen consumer protection for residents and intending residents, providing a regime to control and monitor village operators.
June 4, 2019
-
Rights and obligations of retirement village operators and
The legislation, regulations, codes and agreements regarding the rights and responsibilities of retirement village operators, residents and intending residents.
June 4, 2019
-
Registering a retirement
Any facility operating as a retirement village must be registered on the Retirement Villages Register, and file an annual return. Application and filing fees apply.
June 4, 2019
-
COVID-19: Information for retirement
This page provides information for older people who live in a retirement village, their family and whānau, carers, and operators of retirement villages. This page also guides residents and operators to additional sources of information.
September 9, 2021
-
Unit Titles
The Unit Titles Act 2010 is the law governing building developments where multiple owners hold a type of property ownership known as a unit title.
December 6, 2021
Te Ara Ahunga Ora Retirement Commission aims to help New Zealanders to retire with confidence and provides information for residents and intending residents.
Published: May 18, 2020