Wednesday, 29 January 2025

What is wrong with Retirement Villages

 What is wrong with Victorian loan/lease retirement villages? 

  1. Property Ownership is never granted.
  2. You paid for it but you don't get to own it. 
  3. You only 'rent' it. 
  4. This through deceptive names like 'entry payment' and 'deferred management fee' that obscure the true $ cost.
  5. You pay for management of the property even though you don't own it.
  6. You pay for upkeep of the property even though you don't own it.
retirement village rent lease


at
Labels: , , , ,

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

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

Popular Posts

Labels