"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 $$$.

Friday 28 February 2020

Climate Change Threat Potential For Omnicide

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Consumer Referral to ACCC

Climate Crisis Threat to Human Race

Australian Fossil Fuel Subsidies

Minister Questioned

Economic Cost to Australia of Climate Change

Victorian Retirement Village Act Hurts Residents

Friday 21 February 2020

No Mandated Emergency Plans For Victorian Retirement Villages

The Victorian Minister for Housing has been questioned in the Victorian Parliament by Tania Maxwell the upper house member for Northern Victoria.  


The lack of mandated emergency evacuation plans and assembly points has long been regarded by village residents and resident advocate groups such as the Residents of Retirement Village Victoria as simply a disaster waiting to happen.

retirement village emergency evacuation plan

The member asked of the Minister, "President, I am also greatly concerned about the lack of any clear compulsion for Victorian retirement village operators to institute emergency evacuation plans or even assembly points. Naturally, the residents of these villages are typically older, more frail and less mobile than most other people – and, therefore, they invariably require greater consideration in such circumstances. Unfortunately, however, those needs of these often-highly-vulnerable Victorians don’t appear to be recognised or expressed in our State’s laws. By contrast, I understand that emergency and evacuation procedures are compulsory requirements in New South Wales retirement villages, for example, and at many other Victorian localities, including hospitals and public aged care facilities. As well as schools, early childhood education and care services, libraries, other State and local government buildings, and the like."





Thursday 20 February 2020

Adverse Retirement Village Laws

Corona Virus Travel Insurance Issue

Nursing Home Law Changes Blocked

High Country Comeback Success

Homelessness for older people in Victoria grew 57%

Retirement Village Operators Cry Poor

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.


retvill.net

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