Do all villages have to be registered?

The majority retirement villages in New Zealand are registered with the Registrar of Retirement Villages, a part of the Ministry of Business, Innovation and Employment.

Residents living in a registered village are protected by the Retirement Villages Act 2003. This includes protecting residents from mortgagee sales, liquidation or receivership, and also stops residents being excluded from using the village facilities.

Not all villages need to be registered. Non-registered may not require you to purchase an ORA and, therefore, you may not be protected under the Retirement Villages Act 2003 and associated Codes and Regulations. Non-registered villages usually offer freehold units (often attached to a body corporate) so you may receive a capital gain if you sell.

The Act governing the operation of retirement villages is currently underway. "The review considers whether the Act, its regulations and codes remain fit for purpose to ensure adequate consumer protections for residents and intending residents of retirement villages, and an effective balance between the rights and responsibilities of residents and operators of retirement villages. It also seeks to ensure the on-going viability of the retirement village sector and its ability to provide a range of retirement housing options and consumer choice."