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Sounds like the financial industry isn't the only sector accused of scamming, oh dear is another Royal Commission about to be called? Probably not a large super fund is involved. 
On a side note, IMO it is great to see the ABC getting back to gritty investigations, rather than ideological banner waving for social agendas.
www.abc.net.au
From the article:
Lifestyle Communities specialises in land lease communities in Victoria, where residents buy the home, usually a manufactured or moveable dwelling, and rent the land, similar to a caravan park.
The company is part of the booming $12 billion land lease industry, a sector that houses more than 130,000 Australians across the country, fuelled by a housing affordability crisis and an ageing population.
Its growing popularity has attracted property heavyweights including Stockland, Mirvac and GemLife to the fray, all vying for a slice of the industry's fat profit margins and a ready supply of over-50s.
Lifestyle has been in the land lease business for more than 20 years, operating 22 communities and selling homes to 5,500 residents across Victoria.
For most of that time it has stayed under the radar, but Gauci is one of dozens of residents who are now challenging some aspects of its business model.
Speaking exclusively to 7.30, Gauci and some other residents at the Wollert community accuse the company of immoral and unethical conduct, ranging from charging dead people rent and misleading marketing to questionable fees when residents come to sell their home.
So far, 80 residents at the Wollert Lifestyle Community have quietly lodged a claim against Lifestyle Communities in the Victorian Civil and Administrative Tribunal (VCAT) over fees they believe are excessive and in breach of the law.
On a side note, IMO it is great to see the ABC getting back to gritty investigations, rather than ideological banner waving for social agendas.
How an idyllic retirement resort became a 'financial prison'
Land lease communities, where retirees buy their home but rent the land, are booming, fuelled by a housing affordability crisis and an aging population. But some residents say they feel trapped in a "financial prison" and experts say a lack of legal protections leave some with few options for...
www.abc.net.au
Lifestyle Communities specialises in land lease communities in Victoria, where residents buy the home, usually a manufactured or moveable dwelling, and rent the land, similar to a caravan park.
The company is part of the booming $12 billion land lease industry, a sector that houses more than 130,000 Australians across the country, fuelled by a housing affordability crisis and an ageing population.
Its growing popularity has attracted property heavyweights including Stockland, Mirvac and GemLife to the fray, all vying for a slice of the industry's fat profit margins and a ready supply of over-50s.
Lifestyle has been in the land lease business for more than 20 years, operating 22 communities and selling homes to 5,500 residents across Victoria.
For most of that time it has stayed under the radar, but Gauci is one of dozens of residents who are now challenging some aspects of its business model.
Speaking exclusively to 7.30, Gauci and some other residents at the Wollert community accuse the company of immoral and unethical conduct, ranging from charging dead people rent and misleading marketing to questionable fees when residents come to sell their home.
So far, 80 residents at the Wollert Lifestyle Community have quietly lodged a claim against Lifestyle Communities in the Victorian Civil and Administrative Tribunal (VCAT) over fees they believe are excessive and in breach of the law.
