Retirement Villages: Stop all Kinds of Exit fees
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The Time For Change is Now.
There becomes a stage of life where people want to settle down, and retire in a place they believe is safe and secure. The ideal place for them to go is a retirement village. These people of the older generation sell their homes, so they can move on and live the non-stress relaxed life they dream of. After this, the next stage of life is a nursing home or passing away.
It is at this stage of life after living in a retirement village when they want to sell the villa/unit, that they get hit with ridiculous exit fees. Once they sell, they receive only a portion of what the property is worth, leaving them in a worse financial position than what they started in. Moving to a nursing home after this is hard, with many not being able to afford the proper care they require, receiving a lower quality of care due to the small amount of money they have, after the sale of the villa/unit.
If you are receiving your inheritance from the sale of your parent's retirement villa/units in a Retirement Village, the operators have no mercy. They will take their time to rejuvenate your parent's old villa/units but still charge you levies. There is no real law that states how long they are allowed to do this. It could go for years. When they sell, they input ludicrous exit fees. You can lose anything from $80,000 to $160,000 or even more. You will end up receiving less that what you started with. With their merciless fees, the operators are the ones who benefit the most.
There is an NSW state election coming up in approximately 18 months time. This is the time to make the politicians fix these problems. It's time for a change now. The petition will be addressed to:
- Hon Ken Wyatt AM, MP Federal Minister for Aged Care
- Gladys Berejiklian - Premier of NSW
- Matthew John KEAN, BBus, GradDipCA MP - Minister for Innovation and Better Regulation
- Yasmin Catley - Shadow Minister for Innovation and Better Regulation
- The Hon Dr Kay Patterson AO - The Age Discrimination Commissioner
These people can make changes, the people who can get abolish all kinds of exit fees on Retirement Villages. All we need is 10,000 signatures so this can be submitted to the NSW parliament. There is an invitation been placed to the people in the list above to discuss this matter in August 2017. So join us, sign up, and let us win the right to stop any kind of Exit Fees on Retirement Villages - to protect the welfare of the ageing population in Australia.
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