"Living in a retirement village has the capacity to be a great lifestyle decision, sadly it also has the capacity to be your very worst financial decision." - RETVILLDOTNET.
An example for a village with the Deferred Management Fee calculated on the ingoing $$$.

"My father must have been one of the few people who lost money when he sold his home in a booming Melbourne property market. This huge loss on his home, in a popular suburb not far from the CBD, was despite it selling for more than he paid for it. The problem? He bought into a retirement village." - Diana Thorp. Sunday Herald Sun. 22/08/21
An example for a village with the Deferred Management Fee calculated on the outgoing $$$.

Saturday 28 April 2018

DSCV Partner With VCAT in Retirement Village Disputes

Victorian Civil Administrative Tribunal and Dispute Settlement Centre of Victoria announce an official partnership program between the two agencies.

DSCV and VCAT will be enhancing access to justice for everyday Victorians through the Civil Mediation at VCAT program.

"The program will expand into regional areas over the next four years, with the first region being Barwon South West which will include matters heard at Geelong and Warrnambool.

Initially, the claim threshold for civil matters deemed suitable for mediation will be up to $3,000, gradually increasing over the four years to include matters up to $15,000.

To support this, the listing of civil claims suitable for mediations will be expanded over time to five days per week.

“We are incredibly excited to work with our colleagues at VCAT to deliver a responsive and appropriate dispute resolution service for Victorians,” said DSCV Director Dahna Bond. “This program will deliver real benefit to the community by helping people resolve their issues in a timely and effective manner.”

To contact the DSCV team at VCAT, please visit our contact us page, or email the team."

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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.


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