Village operators: Government funded new income stream utilising vacant homes

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Within the restructure of the aged care system recommended in the Royal Commission report is a raft of potential services and revenue streams for retirement village operators.

An example is above. The Commissioners are very firm on the need for a respite service for volunteer carers, who are mainly the ageing partners to a person receiving home care, or the 50- to 70-year-old children.

The Commissioners want up to 63 days respite in one session to be available to these carers, paid by the Government. The text above talks to the accommodation being:

“Respite in the home, in cottages and in purpose-built facilities”.

Logically, vacant village homes exist, are an age-supportive design, have a welcoming and understanding community, an understanding management and services like a bus to the shops.

The accommodation value is likely to be around $65 a night paid 100% by the Government. One week is $450, two weeks is $900, and so on up to 63 days or $4,100.

Serviced apartments, with meals and services, will add to this outcome.

Not only does it deliver cash income but the service also delivers a potential village customer stream.

Plus, it delivers a much-needed service without any capital investment or government supported ‘purpose-built’ facility.

At the LEADERS SUMMIT Tammy Berghofer and Penelope Eden, partners at law firm MinterEllison, will unpack the relevant Royal Commission recommendations for retirement villages – a must-attend session.