Living Gems has described the practices of retirement village operators exposed in the media as “unfortunate”, and says that in contrast, Living Gems is a shining example of an ethical over 50s resort business.
A recent Four Corners program highlighted the business practices of a retirement village operator, which charges large exit fees and allegedly strives for high resident turnover.
Living Gems General Manager says it is unfortunate that people who are in a sensitive time at their lives are put in the position as has been described in the media.
“However, it is important to note that Living Gems has an entirely different business model and is targeting a different market,” says the General Manager.
Living Gems has eight resorts across South East Queensland where residents have been living happily for decades.
The company prides itself on straightforward fee structure that includes no entry fees and no deferred management fees.
Residents are charged a flat weekly fee for access to resort amenities and their upkeep.
When a resident sells their property, they keep the sale price minus marketing costs, and they are free to market their property however they wish.
“At Living Gems we are clear about our fees and take into account our residents’ needs when considering the costs associated with living at one of our resorts,” says the General Manager.
“In fact, we are keenly aware of the struggles pensioners face today and how careful they have to be with their money in retirement.
“One of our key values is affordability and we strive to achieve that for our residents while also running a sustainable business.”
Living Gems is supportive of clearer regulations for the resort living industry because it would give certainty to residents and to the businesses operating in the rapidly growing sector.