ASX-listed lifestyle and holiday community operator Ingenia Communities is under investigation by the Victorian consumer regulator over potential breaches of rental regulations at its seven Ingenia Gardens senior rental communities across the state.
Consumer Affairs Victoria (CAV) has requested information and documents relating to cooking facilities at the sites, citing possible contraventions of the Residential Tenancies Act and Australian Consumer Law. The Ingenia Gardens communities in question are located in Carrum Downs, Geelong, Grovedale, Hartford, Melton, Sovereign and Warrnambool.
Ingenia said it was reviewing its compliance obligations and “taking steps to ensure full regulatory compliance, demonstrating its commitment to customer obligations and regulatory adherence.”
The company’s share price dropped 3.4% to $5.35 immediately after the disclosure – its lowest level since 4 August – before recovering slightly to $5.44 by Friday morning.
CAV conducts proactive inspections and awareness campaigns to enforce minimum rental standards, with common issues including mould, lack of blinds or curtains, inadequate heating, and kitchens without stovetops.
If a property fails to meet standards, CAV officers typically work with providers to ensure repairs are completed before tenants move in. However, it is an offence to let a renter occupy a non-compliant property. Penalties can exceed $11,000 for individuals and $59,000 for companies.
