Retirement village contracts: unfair terms in the fine print

Unfair terms in village contracts are leaving a financial sting.

“Wake up with a song in your heart and a purpose for your day.” That’s the promotional plug for the 32 retirement villages owned by the Arvida Group. Along with hot pools and happy hours in your golden years, the company promises to make “it easier for you to live by your own rules”.

But the contract you sign when you move into an Arvida village – or any other retirement village – means you’ll also have to play by the company’s rules. Some of them may not make your heart sing.

Our review of contracts offered by six major retirement village operators – Arvida, Bupa, Metlifecare, Oceania Healthcare, Ryman Healthcare and Summerset – found terms we think unfairly favour the village and risk leaving residents out of pocket. They could also fall foul of the Fair Trading Act.

Complete report here.


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