Simplified village legal and Set up a folder of key documents financial arrangements affecting the village Less processes or conflicting Identify key attributes of legal and processes applying to residents financial arrangements affecting committees Victorian retirement villages Confidence and continued The RRVV (with assistance from the investment in the retirement RVA and CAV) will develop a range Reduced village industry of fact sheets for general meetings 2 disputes Improved communication and and committee meetings processes between The RRVV will engage administrative management, committees and support to provide independent residents facilitation at general meetings, or Improved financial transparency alternatively, a Retirement Village and accountability in setting of Commissioner will provide an fees and charges independent facilitator at general Reduced meetings. 2 Reduced Simplified village legal and Pool resources to engage professional financial arrangements administrative support for all villages. Less processes or conflicting Funding for administrative support will be processes applying to residents funded by: committees The collective RRVV, RVA and CAV Confidence and continued The RRVV apply for funding from the investment in the retirement Victorian Property Fund, village industry The RRVV may increase fees Improved communication and CAV charges an annual registration processes between fee for all villages (possibly requiring management, committees and amendments to the Act, significant new residents regulatory powers, system changes Improved financial transparency and a RIS) and accountability in setting of Alternatively CAV could apply for fees and charges funds from the Victoria Property Fund Reduced to engage two full time workers to provide administrative support and independent facilitation of meetings at all villages. Figure 1: Flowchart of actions to simplify the regulatory framework Is this vision for retirement village living achievable?
2 Reduced disputes Simplified village legal and financial arrangements Less processes or conflicting processes applying to residents committees Confidence and continued investment in the retirement village industry Improved communication and processes between management, committees and residents Improved financial transparency and accountability in setting of fees and charges Reduced Set up a folder of key documents affecting the village Identify key attributes of legal and financial arrangements affecting Victorian retirement villages The RRVV (with assistance from the RVA and CAV) will develop a range of fact sheets for general meetings and committee meetings The RRVV will engage administrative support to provide independent facilitation at general meetings, or alternatively, a Retirement Village Commissioner will provide an independent facilitator at general meetings. 2 Reduced Simplified village legal and financial arrangements Less processes or conflicting processes applying to residents committees Confidence and continued investment in the retirement village industry Improved communication and processes between management, committees and residents Improved financial transparency and accountability in setting of fees and charges Reduced Pool resources to engage professional administrative support for all villages. Funding for administrative support will be funded by: The collective RRVV, RVA and CAV The RRVV apply for funding from the Victorian Property Fund, The RRVV may increase fees CAV charges an annual registration fee for all villages (possibly requiring amendments to the Act, significant new regulatory powers, system changes and a RIS) Alternatively CAV could apply for funds from the Victoria Property Fund to engage two full time workers to provide administrative support and independent facilitation of meetings at all villages. Figure 1: Flowchart of actions to simplify the regulatory framework Is this vision for retirement village living achievable?
rrvv_-_a_vision_for_simplified_retirement_village_living1-1.docx