The ABC reports - For almost a decade, pensioners Trish Reece and her husband Wayne have been living in a gated village in Shepparton in regional Victoria, run by the controversial land lease operator Lifestyle Communities.
Now they want to get out.
"We don't want to live here anymore," she says.
But she says they are stuck, financially, due to the so-called exit fees charged by the company when a resident sells their home.
For the full story click the link below -
Retirement Village Horror Stories Continue
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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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