New DMF contracts and products
Not-for-profits have been offering this choice for some years, like Uniting (see their choices HERE)
One major outcome of the Four Corners exposé was the acceleration of private operators introducing choice of contracts, from no DMF with a loaded up-front fee, to shared exposure to the market and full DMF. Not-for-profits have been offering this choice for some years, like Uniting (see their choices HERE). Interestingly Lendlease reports that while they offer four contract choices, the traditional DMF contract is ultimately chosen by 80% of new residents. See their choices HERE. Some operators are now fixing monthly fees for the lifetime of new residents as well, following the NZ model. Stockland also has trialled non-DMF villages under its Aspire brand, with two test villages launched, one in Sydney and one in Perth. This product would have been developed before the media blitz but is a strategic answer to the DMF concern. They have announced they are going to roll out more Aspire villages.
