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Remarketing is when an operator advertises or promotes the sale of a right to live in a retirement village residence. Operators must follow the remarketing policy for the village as soon as they receive notice that a resident is leaving.
Remarketing fees and charges
Residence contracts must include details about any fees or charges for remarketing. This includes how the fees are calculated.
The operator must:
- have a remarketing policy that complies with minimum requirements (refer to what a remarketing policy must include)
- give a copy of the policy to prospective residents before they sign a contract
- act under the remarketing policy as soon as the resident provides written notice of their intention to leave.
Operators must not charge fees for remarketing unless:
- the fee is stated in the residence contract
- the fee is calculated as stated in the contract.
Note: for contracts signed before 2 February 2026 that do not include this information, operators can only charge reasonable costs for remarketing. This may include a reasonable portion of the costs of the general marketing strategy of the village.
Setting the relicensing price
Operators should meet with the resident or their representative to:
- explain the remarketing process and how the relicensing price is set
- discuss any questions or concerns
- outline refurbishment or reinstatement work, costs and responsibilities
- share recent price ranges for similar residences to help manage expectations.
If the resident disagrees with the operator’s valuation, they can request an independent valuation. The result is binding, and both parties share the cost.
Once the price is agreed
The operator must confirm it in writing.
If the price changes later
The operator must:
- discuss the change before it happens
- explain the reason
- confirm the change in writing
- outline how future changes will be managed.
If the resident disagrees with the operator’s valuation, they can request an independent valuation. The result is binding, and both parties share the cost.
Legal and financial risks of non-compliance
Operators must follow the Act and Regulations. Failing to do so may result in penalties.
Examples:
- Charging more than reasonable costs for remarketing (for contracts before 2 February 2026 that don’t specify fees) can result in a fine up to $10,000.
- Not including required fee details in the residence contract can result in a fine up to $35,000.
Contact the Retirement Village Unit
Email: retirementvillages@sa.gov.au
