A group of NSW retirees are facing exorbitant fees for basic upkeep of their retirement village, as they question where their strata money has gone.
At Lakes of Cherrybrook in Sydney’s north west, mould coats the ceilings and walls and bright orange plastic has been stapled to every roof in the village since April to prevent water coming in.
Fifty units, or 75 per cent of the entire complex, are now owned by RSL LifeCare, one is common property and there are 13 units owned by resident strata owners.
Last year the residents were informed new roofs were going to be installed, which the strata owners were advised there would be a special levy for.
One of the residents, Lesley, said its “unfair” to ask the retirees to front the costs of the repairs.
She told A Current Affair, “They have the duty of care to look after the place and the people in it.”
“We didn’t come here to do maintenance work, we didn’t come here to go to meetings month after month … It’s put an awful lot of stress on people.”
On June 1st, the residents said they were told works would cost more than $7 million, but it looks like that could blowout, as many works are yet to be priced.
According to this quote, the residents could be expected to pay up to $200,000 each, when they already pay up to $13,000 on strata fees.
According to RSL Lifecare’s 2021 financial results, the company has $170 million in the bank, which has left residents questioning why they’re the ones who have to pay up.
Another resident, Judy, said, “People are deaf, they can’t hear what’s going on, they don’t understand; they get frustrated. It’s sad, it’s wrong.”
Image credits: A Current Affair
This article first appeared on OverSixty.