Aveo’s response to mid-year media attack on the retirement village sector

From June to September the Fairfax Media, backed up by the ABC, focused negative attention on the retirement village sector and the second largest village operator, Aveo, in particular.

Aveo CEO Geoff Grady used their AGM to detail some of their responses to contract and administration criticisms. Aveo:

• committed to the Retirement Living Council 8 Point Plan
• encourages:

1. The introduction of an Ombudsman
2. Mandatory independent legal advice for buyers

• will improve and strengthen complaint and incident handling procedures
• includes a requirement for independent mediation
• since mid-August new The Aveo Way and Freedom contracts have:

1. Money back guarantees
2. Shortened buyback periods (superior to all legislative requirements)

• contracts will be simplified further by mid-next year