Fact Check of ABC 7.30s report into Lifestyle Communities [Video]

The taxpayer-funded broadcaster has its own Fact Check team determining the accuracy of claims by politicians, public figures, advocacy groups and institutions. 

It’s a shame it did not check on its story on ABC 7.30: “How an idyllic retirement resort became a ‘financial prison”. 

Claim 1: Lifestyle Communities charges a Deferred Management Fee. 

Correct. It does and it clearly states it does and it is capped at 20% after five years. There is even a video of Managing Director and Co-founder James Kelly explaining it.

Lifestyle Communities charges a DFM  to lower its home prices, which was not mentioned in the ABC 7.30 report. 

Four homes are available at Lifestyle Communities Wollert, with a two-bedroom home from $565,000, with a DMF capped at 20% after five years ($113,000). 

The main protagonist, resident Geoff Gauci, compared Lifestyle Communities in an unfavourable way to Stockland. The Stockland Halcyon land lease brand does not charge a DMF. A two-bedroom home at its new …