Aveo’s existing retirement unit sales slump 42 per cent

Posted Leave a commentPosted in Aveo, Retirement Villages

  Aveo’s existing retirement unit sales slump 42 per cent. Melbourne age reports:- “Controversial listed retirement village owner Aveo has reported a 42 per cent dive in sales of existing retirement village units while the company conceded it had done little to improve the financial outcomes for the thousands of its residents still on old and allegedly unfair contracts. The sale slump came after a joint Fairfax Media and Four Corners investigation in 2017 uncovered a litany of questionable business practices at Aveo including churning of residents, fee gouging, safety issues and misleading marketing promises, such as safety and emergency services. Mr Continue reading

WA Takes Action Against Retirement Village

Posted Leave a commentPosted in Consumer Affairs Victoria, Retirement Villages

WA Takes Action Against Retirement Village The Western Australian Government has taken action against a retirement village for failing to issue the appropriate documentation to prospective residents. This is in stark contrast to Consumer Affairs Victoria who took no action for a similar situation but on a larger scale. The result being that residents in the rural Victorian village will receive a negative financial imposition in the collective order of $1.5m at present day values to the financial advantage of the operator of the same amount. Read the full story here :- Consumer Affairs Victoria asleep at the wheel? In a Continue reading

Prisoners Fed Better than Aged

Posted Leave a commentPosted in Aged Care

Prisoners Fed Better than Aged News.com.au reports – “Prisoners fed better than Aussies in aged care homes. GUINEA pigs have better meals than these Aussies, says a leading medical chief, after shocking new data shows they are being fed on just $6 a day. AUSTRALIAN pensioners are fed on just $6 a day, according to shocking new statistics which the AMA president has called a “national disgrace”. The “wholly inadequate’’ sum of money is less than Australian prisoners get for their meals and medical chief Michael Gannon says more money is spent on his guinea pigs’ food. “My children’s guinea Continue reading

Retirement Housing Advice and Advocacy Program

Posted Leave a commentPosted in Housing, Retirement

Retirement Housing Advice and Advocacy Program. The Senior Newspaper reports – “HELP is at hand for Victorian seniors weighing up their living options with the launch of an advice service to guide people through the retirement housing maze. The state’s first service dedicated to supporting people in retirement housing has been set up by not-for-profit community group Housing for the Aged Action Group (HAAG). Co-manager Fiona York said the Retirement Housing Advice and Advocacy Program offers help to seniors living in caravan and residential villages, retirement villages and rental villages across Victoria. Residents must be 55 and over with some Continue reading

Transfer of Family Wealth to Large Multinationals

Posted Leave a commentPosted in Retirement, Retirement Villages

Concerns are being raised amongst retirement village representative bodies as to the excessive transfer of family wealth to large multinationals. President of the NSW Retirement Villages Residents Association Tom Gait is quoted “Families need to be aware that what we are talking about here is the transfer of intergenerational wealth, not to families, but into the pockets of large multinationals. Shame about elderly people not having enough money for aged care,”. The table below gives an example where $1,030,045.30 is no longer destined for the family but is now in the hands of the retirement village operator, all this after Continue reading

Housing Regulatory Fears Unfounded

Posted Leave a commentPosted in Housing

Domain.com.au reports – Housing Regulatory Fears Unfounded Fears increased regulation for landlords would harm Australia’s housing market unfounded: AHURI report Fears Australia’s housing market would suffer if landlords faced increased regulation are unfounded, an international review has found. In countries with similar incentives for mum and dad investors, stronger regulations protecting tenants did not lead to a big drop-off in investors or subsequent house price falls, according to a new Australian Housing and Urban Research Institute (AHURI) report. The view of increased tenancy regulation – such as capping rent increases and bringing an end to no-grounds terminations – as “red tape” that would drive investors away was out Continue reading

Retirement Village Definition Amendment Urged

Posted Leave a commentPosted in Legislation, Retirement Villages

Retirement Village Definition Amendment Urged – Savvy retirement village residents are urging resident representative bodies across all states to push for a change to the legislated definition of a retirement village. Concerns come from the fact that various State legislation frameworks require an in-going payment to be made before a lease/licence of occupancy is permitted and that this payment is prohibited from being rent. Residents believe this to be a key factor in the ability of an operator to camouflage the full cost of the conditional residential accommodation until exit from the village and protects the operator from market forces Continue reading

Retirement Village Residents To Speak Up

Posted Leave a commentPosted in Retirement Villages

Retirement Village Residents To Speak Up –  Residents need to speak up in the lead up to three state elections in 2018. 2018 is likely to be a pivotal year in reforms for the retirement village industry. Despite numerous government inquiries going back decades there has been a constant stream of complaints about the industry. This golden opportunity will be taken by governments or again the legislators and regulators of the industry will fail all older Australians, again! For past, current and potential retirement village residents:- If you have never visited you local member of parliament, do it now. If Continue reading

Renovation or Retirement Home

Posted Leave a commentPosted in Aged Care, Retirement

YourLifeChoices reports:- Renovation or retirement home. The great ‘age in place’ conundrum. Renovation or Retirement Home – “Property Council of Australia data says the average age people move out of their house and into a retirement village or nursing home is 75 years. Yet, the vast majority of Australians aged in their 80s and 90s are staying put. The latest census reveals that 80 per cent of people between 85 and 89 years, and half of those aged 95 to 99 years, are still living in their own home. Sources suggest that enquiries into retrofitting private homes to make them ‘age Continue reading

Village Survey Reports Both Satisfaction And Anger

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The Weekly source reports:- National Village Survey reveals strong satisfaction but also ‘anger’. “Emotions are high in villages across the country. The split has been about 50/50 in praise of their village and ‘we are not happy with our village’. This is our third National Survey (2011 and 2013) and the resident climate has changed significantly. ‘Respect’ is the most common word expressed, criticising the operators and management. A full analysis of the big issues and actions that need to be taken will be presented at our LEADERS SUMMIT 2018 at the Hilton Sydney, Thursday 15 and Friday 16 March.” Full story Continue reading