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Lifestyle Communities' exit fees ruled invalid in win for residents

Lifestyle Communities' exit fees ruled invalid in win for residents

A Victorian tribunal has ruled that ASX-listed housing provider Lifestyle Communities has been charging some of its residents significant exit fees without properly disclosing them and they must be scrapped.
Although the Victorian Civil and Administrative Tribunal is yet to issue orders, president Justice Edward Woodward found the controversial exit fees, known as deferred management fees, were 'void' and Lifestyle must not require payment of them.
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