The C-RIS identifies the policy objectives to guide the selection of suitable options to address the problems described above. The policy objectives are to provide:
Residential parks which are fair and transparent:
Support consumers purchasing a manufactured home and entering into a site agreement to make an informed decision about the suitability of the site agreement for their particular financial circumstances and stage of life.
Simplify the sales and assignment process for the benefit of all parties.
Ensure consumers feel confident in their decision to live in a residential park and with the processes and protections provided by the Act.
A legislative framework which is contemporary and meets community expectations:
Address differences in market power and ensure risks are appropriately shared between home owners and park owners so that:
home owners receive value for their site rent and their investment in their home is protected
park owners have obligations and incentives to maintain the amenity and standard of facilities in their residential park, and assist in the resale of homes
Ensure protections for home owners are not significantly less than those applying to retirement village residents, including to support people to leave a residential park to move into aged care if required, or to other accommodation.
Residential parks which are sustainable for home owners and park owners:
Ensure site rent increases and variations are fair
Allow park owners to meet the costs of operating and maintaining their residential park and derive a reasonable profit from the park’s operation to encourage growth, supply and competition in the industry.
The C-RIS identifies the policy objectives to guide the selection of suitable options to address the problems described above. The policy objectives are to provide:
Residential parks which are fair and transparent:
Support consumers purchasing a manufactured home and entering into a site agreement to make an informed decision about the suitability of the site agreement for their particular financial circumstances and stage of life.
Simplify the sales and assignment process for the benefit of all parties.
Ensure consumers feel confident in their decision to live in a residential park and with the processes and protections provided by the Act.
A legislative framework which is contemporary and meets community expectations:
Address differences in market power and ensure risks are appropriately shared between home owners and park owners so that:
home owners receive value for their site rent and their investment in their home is protected
park owners have obligations and incentives to maintain the amenity and standard of facilities in their residential park, and assist in the resale of homes
Ensure protections for home owners are not significantly less than those applying to retirement village residents, including to support people to leave a residential park to move into aged care if required, or to other accommodation.
Residential parks which are sustainable for home owners and park owners:
Ensure site rent increases and variations are fair
Allow park owners to meet the costs of operating and maintaining their residential park and derive a reasonable profit from the park’s operation to encourage growth, supply and competition in the industry.
