The owners of Clonmannon Active Retirement Village in Co Wicklow say they are in "very serious" negotiation with a potential buyer.
Yesterday, residents held a meeting at Clonmannon to seek information about the proposed changes.
The retirement village near Ashford has been involved in controversy for some years. Some residents have been refusing to pay service charges to the current owners, Ms Jane and Mr Roddy McGrath. They say the service contract introduced by the McGraths after they bought the village out of receivership and liquidation is far less favourable than the original contract.
The McGraths say the original contract would require a service charge of over £12,000 and that most residents could not afford that.
Residents in 13 of the 16 occupied bungalows have accepted the McGraths' contract, which carries a service charge of £2,700 a year and provides fewer services.
The McGraths say a pending High Court action by a minority of residents and former residents is discouraging people from buying leaseholds in the village. Thirty bungalows are unoccupied.
They announced earlier this year that they intended putting the complex up for sale. Ms McGrath says the company with which they are in negotiation wants her to remain as manager and that it may take until Christmas to complete a deal.