Retirement villages receive a caning by A Current Affair - more to come
Last Friday Channel 9s A Current Affair dedicated 6 min. 28secs warning viewers of the traps that retirement villages present. Utilising money expert Paul Clitheroe, they identified four ways a resident will definitely lose money. They were Exit...
Last Friday Channel 9s A Current Affair dedicated 6 min.28secs warning viewers of the traps that retirement villages present. Utilising money expert Paul Clitheroe, they identified four ways a resident will definitely lose money. They were Exit Fees, escalating weekly fees, the fact that the operator receives all the capital growth, and hidden fees when you leave (citing $50-60K for restoration and other expenses).
ACA is pursuing the residents of The Landings to tell their story, particularly around the DMF and maintenance. The indications are they are planning up to four program segments to be run over a month.
See last weeks program HERE.
http://aca.ninemsn.com.au/article/8748748/retirement-village-traps
