Function of Government

The role of government is to create an environment for commerce to function whilst at the same time protecting retirees and particularly vulnerable retirees from both financial and emotional harm emanating from that function.

The Victorian Retirement Villages Act 1986 provides the environment for commerce to function but fails to fully protect retirees from financial and emotional harm as a result of it.

The Victorian legislative definition of a retirement village in demanding the payment of an 'in-going' amount without the transfer of property ownership is a major contributor to that financial and emotional harm suffered by retirees.

Sunday, 25 March 2018

The Great Deferred Management Fee Myth

The Deferred Management Fee.
The reality is you pay it on entry
The industry charges an in-going amount on entry for a lease but not ownership then claims you don't pay the Deferred Management Fee until you exit the village.

Hello, you paid it on entry. No cheque is written on exit.

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