Retirement village Contracts – read the fine print

Residents who have acquired freehold independent living units in the Veronica Gardens, Aveo retirement village in Northcote, Victoria found that their contracts contained a clause stating that residents could lose their right to reside if they ceased to be “eligible residents”. This clause can be actioned by Aveo, which in this case was also the village manager, if a resident becomes bankrupt, vacates for more than one month without Aveo’s permission, suffers ill health below which Aveo can offer services, if they mortgage their unit or the owner dies.
Source: Adele Ferguson, Retirement villagers rebel against Aveo Group, Sydney Morning Herald, 3 August 2016

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