Aveo responds to media coverage from Fairfax and ABC

"Recent Fairfax media articles and ABC 4 Corners have featured accusations regarding Aveo, our staff and the costs associated with living in our retirement communities. Much of that commentary has concentrated on the industry business model and the contractual arrangements within retirement communities and has ignored what Aveo has done to improve its own contracts. The articles also ignore the rapidly growing accommodation and care needs of senior Australians and what Aveo is doing to proactively address them.

Since 2014, Aveo has led the retirement industry through its commitment to our residents, their families and the needs of senior Australians by developing new state of the art retirement communities and housing, and by investing in care businesses and services including aged care, physiotherapy, occupational therapy and podiatry and by improving the delivery of other ‘in demand’ services for our residents including food and telecommunications. Aveo is investing over $700m in retirement products and services to ensure residents are provided with increasingly high service levels and quality at Aveo.

In 2015, in an industry first, Aveo completely restructured its standard purchaser contract that residents sign when moving into an Aveo retirement community. This was done following extensive consumer research to address ways we could better serve our consumers interests. In an industry leading first, the ‘Aveo Way‘ contract developed as a result of that research process now provides customers with clarity on the costs of living in, and subsequently moving out of, an Aveo retirement community.

The main benefits of the Aveo Way – each one an industry leading position:

• A ‘guaranteed buyback’ promise for units that remain unsold for 12 months (and a lesser period of six months in NSW and Tasmania)


• Aveo offers an extended cooling off period of 21 days, and a 120 day settling in assurance for peace of mind


• There is no charge to the resident on exit for reinstatement or refurbishment costs associated with improving their property, and no charge for commissions, or costs of sale or marketing fees


• Aveo supports all residents with a care offering that is tailored specific to their individual care needs


• Aveo offers residents the freedom to transfer within accommodation types in meeting their care needs, within the village, or to any other Aveo community nationally


• No exposure to the real estate market where Aveo controls and facilitates the sale process. As a result, there is no capital loss or gain for the resident taking away uncertainty with fluctuating property prices and providing certainty of the sale price, before the need to sell

Our detailed response to the 29 questions forwarded to us last week can be accessed via the Aveo Statement link below"

Read more at: Aveo Statement