Across 20 speakers many big issues were canvassed, including:
1. The real age of todays new village resident is 80
2. The main driver of joining a village is health
3. 75% of senior Australians cannot afford the modern village entry price
4. Villages are increasingly about independent care, not independent living
5. The real penetration rate of villages is 10.6%, not 5%
6. Many not for profit CEOs understand their market more than private operator CEOs
7. Village manager remuneration does not match their worth to the business
8. Village managers make successful villages and materially affect profitability
9. Residents will become increasingly demanding as they suffer increasing financial fear
10. The RVA needs to raise its membership rates by 400%
Next week we will have a more detailed review of the core points raised.
Legal Issues
VCAT rules Lifestyle Communities’ DMF model illegal
Lifestyle Communities’ business model is under serious threat after a ruling by VCAT President Justice Ted Woodward found its exit fee structure to be illegal. The ASX-listed land lease operator, which was valued at $861.9 million and placed in...
