34ERequirements for entering into voluntary sharing arrangements

#### 34E Requirements for entering into voluntary sharing arrangements 34E Requirements for entering into voluntary sharing arrangements > > (1) The operator of a community must not enter into a VSA site agreement with a person (the contracting party) unless the operator first offers to instead enter into a rent only site agreement with the contracting party. > > > (2) Before entering into the VSA site agreement with the contracting party, the operator of the community must— > > > > > (a) provide the contracting party with written information regarding the costs under a VSA site agreement compared with the costs under a rent only site agreement, and > > > > > (b) advise the contracting party to seek independent advice about the voluntary sharing arrangement included in the proposed VSA site agreement. > > > (3) The VSA site agreement must include— > > > > > (a) a declaration, signed by both parties to the agreement, that the operator of the community offered to instead enter into a rent only site agreement with the contracting party and the contracting party declined the offer to enter into the rent only site agreement, and > > > > > (b) a declaration, signed by the contracting party, that the contracting party— > > > > > > > (i) obtained independent advice about the voluntary sharing arrangement included in the VSA site agreement before entering into the VSA site agreement, or > > > > > > > (ii) waived the contracting party’s right to obtain independent advice about the voluntary sharing arrangement included in the VSA site agreement before entering into the VSA site agreement. > > > (4) The voluntary sharing arrangement is void if this section is contravened. > > > (5) The regulations may prescribe information, or the kinds of information, that must be provided to the contracting party under subsection (2)(a). > > > (6) In this section— > > > > fair market value means the higher of the following— > > > > > (a) the site fees currently payable by the home owner occupying the residential site, > > > > > (b) the site fees currently payable for residential sites of a similar size and location within the same community. > > > > rent only site agreement means a site agreement— > > > > > (a) that does not include a voluntary sharing arrangement, and > > > > > (b) under which the site fees payable do not exceed fair market value. > > **s 34E:** Ins 2024 No 46, Sch 1\[3\].