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Latest industry developments

Another alternative for customers is build to rent – a new challenge to retirement villages

In Europe and America the concept of really long-term rental leases is common.

Very simply, a renter can rent their apartment home for, say, 50 years in the lease.

Unlike Australia, where most leases are a maximum of three years, with the 50-year lease you can settle down knowing that your apartment is your home for as long as you want it to be.
 

Build to rent in Australia

Over the past 24 months, there has been a significant jump in the developers and financiers committing to the build-to-rent model here in Australia.

They are all medium to high-rise apartment developments in key city or suburban locations, next to shops, medical services and transport.

Same but different to retirement villages

The appeal for ageing Australians is they can sell the family home and keep all the cash as a lump sum, which they draw down slowly, paying the monthly rent.

They get a new home in a vibrant community. In most cases the developer commits to provide a building manager – who acts like a concierge. Sounds like a retirement village.

However, it is different because the residents don’t have all the protections provided by the Retirement Villages Act, which has very real benefits.

But there is no escaping that build-to-rent adds choice, and the number of homes coming to the market is big.

Last week, Macquarie Bank announced it was creating a new division called Local. Over the next five years, it intends to build 15 to 20 build-to-rent buildings with more than 4000 rental units – and these are just some of many coming to the market.

Your skills in demand

We are already seeing build-to-rent developers looking for community managers. Your skills will be in high demand. Watch this space.

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Latest industry developments Things to watch

Future of retirement living with care – ‘Never Move Again’ 9 penthouses size 437 m²/ $5 million

Sydney has briefly held the record for the most expensive retirement village home, at $4.7 million in beachside Cronulla – the vertical village Sage By Moran.

But this record will be short lived, thanks to the in-construction 2×19-storey village Odyssey Chevron, on Chevron Island just behind Surfers Paradise.

This is an extraordinary development, and gives village managers an insight into where careers can take you.

Odyssey Lifestyle Care Communities has been created by veteran village operator Phil Usher, who in 2002 created Tall Trees, among the very first private aged care operations working under the Retirement Villages Act.

His concept is simple: Odyssey will provide care into your village home right up to palliative care stage. And it is popular.

Phil’s first new development is Odyssey Robina Stage 1. A medium rise village, it sold out, and work has begun on Stage 2 with a record of five to seven apartments being sold each month. 

https://issuu.com/the_weekly_source/docs/private_aged_care_goes_big_2

Odyssey Chevron takes Phil’s vision to a completely new level.It’s afive-star hotel-style development including specialist disability accommodation, and has a section for allied health clinics. The top three floors will house nine penthouses at 437sqm each with panoramic views over the Gold Coast, and are anticipated to sell up to $5million. 

Most importantly, though, there will be a dementia level, where couples can live together as long as they possibly can by creating a secure area on the same level.

https://www.odysseycommunities.com.au/news/odyssey-on-the-today-show/

We recently came across this video of the residents enjoying a staycation through COVID lockdowns, which we thought you may like.

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Facility Manager Key things to help you everyday Village Operator

Diversity and Inclusion requires Belonging to be effective for all residents

Why is diversity an objective in retirement communities?

In essence, a commitment to diversity within your village is an acknowledgement of the benefits that having a wide variety of people, heritages, ideas and experiences can offer in building a vibrant community!

Australia has one of the most diverse older populations in the world, with a significant proportion of the Australian seniors community identifying as:

  • Aboriginal and Torres Strait Islander
     
  • Culturally and linguistically diverse (CaLD)
     
  • Veterans of the Australian Defence Force or an allied defence force (or the spouse, widow or widower of a veteran)
     
  • LGBTIQ+ (lesbian, gay, bisexual, transgender/gender diverse, intersex and queer)
     
  • Disabled or living with a significant health concern

So, while we often talk about ‘Diversity’, do we really understand its importance to our staff and our village communities?

Firstly, it is important to recognise that diversity cannot work without inclusion, and that ‘diversity and inclusion’ cannot be sustained without belonging.

In simple terms:

Diversity is the characteristics that make people unique. 

Inclusion is the behaviours and community norms that make people feel welcome.

Belonging is an individual’s sense of acceptance by others.

How can Village Professionals promote Diversity?

What are some of the activities village professionals can do to establish and promote Diversity, Inclusion and Belonging in the workplace and within village communities?

Having a conscious approach to support the diverse nature of residents living in your village is vital to operational planning, resident satisfaction and service delivery within your community.

Recognise and consider inclusive activities, which increase in importance as people age and face the possibility of isolation.

Ensure that older Australians remain valued and have the same access to opportunities whatever their differences.

Establish inclusive practices as part of everyday operational activities, whether it is at meetings, operational planning, or as part of project considerations within the village community. 

Additionally, you can:

  • Provide activities that appeal to diverse groups
     
  • Conduct regular education/reminders to village teams about diversity
     
  • Address and discourage others’ bias toward ageing
     
  • Hold open conversations across the entire village (not just with a select few)
     
  • Include stories, recipes & information in newsletters that represent the diversity of the village community
     
  • Ask residents what they would like to share about their heritage, lifestyle or background
     
  • Ensure diversity activities are an agenda item on team and resident meetings

A quick quote from Jesse Jackson:

“When everyone is included, everyone wins.”

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Facility Manager Key things to help you everyday Village Operator

Community engagement includes engaging with residents

I’ve talked previously about the changing characteristics of this next generation, the Baby Boomer. They are now rapidly taking up occupancy in our villages. 

Just like they have done in every aspect of their journey, Boomers are displaying traits and behaviours that call for new consultation and communication models.   

One of the best examples of why we should consult with residents is the video above left by Becky Hirst. In it, she explained she knows nothing about road construction – but she knows everything about the road she lives on, because she walks and drives it every day and night.

Watch it HERE and it will give you a smile. It may cause you to rethink resident consultation as well.

www.fortheloveofcommunityengagement.com

Becky has been speaking at our VILLAGE SUMMIT events around the country on the building steps and importance of Community Engagement.

If you are interested in finding out more about Becky, she has recently written published her book, For the Love of Community Engagement.

Find out more here – www.fortheloveofcommunityengagement.com

Wanted and expected? Yes and yes   

The activity we have already seen over the last 5 years, with the activation of the residents’ associations across the country, indicates strongly to me that residents want to – and expect to – be engaged in dialogue where decisions that may impact or affect their futures and lifestyles are occurring.  

The next time you’re making a decision, perhaps think a little bit more broadly about who the decision might impact or affect – and importantly, who else might be able to contribute valuable insight.  

Next time you are preparing to make a significant decision on behalf of your residents, consider how you might be able to come alongside your community and engage at a deeper level to gain a broader perspective from those impacted or affected.