Aged Care Village Slammed by Rent Hikes

0:00It's April 1st. Welcome in. This is Adelaide News today where local news meets AI. I'm Corey with the story. A not-for-profit-age care spot in Sydney's Northern beaches, Allenby Heights Village just got slammed with wild-ren hikes on three-crown land. Leases. We're talking jumps like 465%, 5,278%, and even 6,300. 24% that bumped their total yearly bill from $50,000 to over $500,000, all while they care for around 200. Seniors and retirement and aged care homes. These increases hit back in 2023, and the village has been eating the costs for two years now. It's part of a bigger NSW push by Crown Lands to jack-up rent statewide to market rates, so the cash flows back to the public for things like land. Maintenance and community projects. The CEO there, CEO Ron Foley, calls it staggering and says the government's picking on community services as easy

1:00marks. They can't pass it on to residents because laws cap increases at inflation, or CPI. The National Age Care Peak Body agrees, noting at least 10 other nonprofits got hit too, and it's messing with plans to expand beds when hospitals are backed up with elders. Government folks counter that the land's now worth over $37 million, with rents last set way back in the 90s, 2002, and 2010. They gave the village a 50% rebate as a community group, and point out it still posted a $2.75 million profit last year. Similar hikes are staying in clubs too, like a sailing spot of 600%. Bottom line, this squeeze on age care providers could cram growth right when Australia needs more spots for its age and crew, forcing tough choices. Between service and survival.