Is he concerned that applying reforms only to new contracts, will disadvantage current contract holders, due to retirement village operators being incentivised to sell new contract licences first, if not, why not?

Answer

I do not consider that existing residents will be disadvantaged. Retirement village operators are already legally required to start the process of seeking a new resident promptly after a resident vacates their unit, and to take all reasonable steps to enter into a new occupation right agreement (ORA) in a timely manner and for the best price reasonably obtainable. As part of the agreed changes to the Retirement Villages Act 2003, the Government is enhancing the existing legal requirements for relicensing units by requiring monthly written reports on the steps taken to refurbish and market the unit and progress made towards relicensing the unit, and removing the current time restriction on former residents taking a dispute relating to the relicensing of their former unit. These new requirements will apply to existing and future ORAs from six months after the amendment Bill receives Royal assent.