National Seniors Australia lobs another grenade at retirement villages

In a submission to the Victorian Review of that state’s Retirement Villages Act, National Seniors Australia has shown its scorn of the sector, stating it is a “lifestyle choice that requires a lawyer”.

“A large part of our wariness of retirement villages is the lack of transparency regarding contracts, especially with regards to management fees, deferred management fees, entry/exit fees and refurbishment fees,” stated National Seniors’ submission. “As a sector that relies on future sales, National Seniors finds it particularly infuriating that most retirement village operators debase the good name of the sector by continuing to sell retirement villages using a model that undervalues entry costs and obscures exit costs as a means of luring in unsuspecting seniors into the retirement village setting. Many are later “hit” with fees and charges - the full cost of which is not easy to understand without costly legal and financial advice.”

National Seniors claims older Australian are fed up with confusing retirement village laws and want Housing Minister Julie Collins to show leadership and bring the states and territories together. Read National Seniors’ submission here.