Retirement traps exposed

Only to be slugged with ridiculous fees and have their life savings eaten up.

Statement from Lendlease Managing Director - Retirement Living Tony Randello

Our residents and their desire to live full and independent lives is at the heart of everything we do.

The Village Williamstown is strata-titled, meaning residents control the title to their property the same as other forms of property ownership, such as a family home or an apartment. Similarly, residents control the price for which a property is listed for sale.

Lendlease does not profit from monthly service fees. These cover costs relating to owning any strata property such as council rates, utilities and maintenance charges.

This year, Lendlease introduced a range of new contract options for retirement living, including contracts without exit or sales fees.