Making the decision to leave your family home and move into a retirement village is one that many senior  Australians have made. More than 184,000 Australians live in retirement villages – that’s around 5.7 percent of the over 65 population.

There are a number of important factors to consider before you make your decision, as moving into a retirement village is a significant step, and one that you want to get right. It’s vital that you take the time to consider your personal lifestyle requirements now and into the future together with the retirement living options available to you, in order to make an informed choice.

Lifestyle & Health Considerations

If you feel that it is the right time for you, ensure that you seek out the answers to any questions that you may have.

·       Understand the different types of retirement living and determine what type/s might suit your needs. Choose from a range of independent living units, serviced apartments, rental units/villages and land lease communities.

·       Once you have narrowed down your options, we recommend that you visit those retirement communities that meet your criteria, meet the village manager and, if possible, speak to the residents’ committee, to help you gauge whether you would feel comfortable living there.

·       Consider whether you want to live near your family and friends or the current area that you reside in. If not, would you like to make a location change for lifestyle reasons? If so, where to and why?

·      As your health needs may change, find out whether there are village staff and emergency systems in place, as well as whether there is an aged care facility onsite or nearby or the extent to which you can access in-home care services through the retirement village operator - they may have a partnership with an aged care provider or be an aged care provider themselves making it easier for you to access these services.

·       Every village offers different amenities. From recreational facilities that keep you active and socially engaged to onsite healthcare services such as physiotherapy or podiatry – this should make your decision-making process easier.

Financial & Legal Obligations

Before you make the commitment, ensure that you understand your legal rights and obligations and the financial implications, so that you can be confident in your decision, both in terms of lifestyle and legal and financial considerations.

·       Work out your budget before you begin your research with a financial planner. This will save you time when you begin comparing retirement villages, and you’ll be informed on how to manage your income.  

·       Find out whether the village offers different contract types. For instance, there may be a Deferred Management Fee (DMF) payable or you may be able to pay a fee upfront to avoid paying a DMF at the end. Seek expert financial advice to help you determine which contract type might best suit your circumstances as you may be able to save yourself thousands of dollars.

·      If you’re interested in a particular unit and there is a reservation fee or deposit payable, ask about whether it will be refunded if you change your mind. If you move in and don’t like living there, find out whether there is a settling-in period offered by the village or provided under legislation.

·       Obtain legal and financial advice before you sign any contracts. Determine the kind of contract you will be entering, from leasehold to strata title and more, and its implications, each retirement village differs.  

·       Find out what is included in all ongoing fees, as well as how often they’ll need to be paid during your residency and when they cease to be payable after you leave. Find out what other expenses you may need to pay to external service providers if they are not included.

Have you made the decision to move into a retirement village? If so, the team at Compare Villages work with a number of retirement villages, country wide. Our unique online comparison tool provides users with the ability to easily and comprehensively compare the lifestyle, financial and legal aspects of every retirement village listed on our platform. Unlike any other retirement village directory in Australia, we’re dedicated to providing you with the transparency needed to help you make an informed choice.

Retirement villages across Australia provide comfortable accommodation, where residents are welcomed into a safe and supportive community. With over 184,000 seniors calling retirement villages home, there’s a reason for this.

Free to do whatever you want in a secure community with like-minded people, the lifestyle and companionship that comes with retirement living challenges the idea of retirement. Let’s look at some of the benefits.

Facilities & Services

After years of working hard, moving into a retirement village allows you to live the life that you deserve. Retirement villages are purpose built to support convenient living and enhance your lifestyle, with many offering a range of onsite facilities and optional services. Enjoy easy access to swimming pools, bowling greens, hairdressing salons, podiatrists, restaurants and cafes, and more.

Every retirement village is different, so if you are looking for certain services and facilities, ensure that you find out whether they are offered before you make your decision. Live comfortably knowing that you reside in a safe and secure community, without unnecessary stresses.  

Activities

Whilst convenient access to amenities will make your life easier, the lifestyle and companionship gained through social activities improve quality of  life and wellbeing. A great way to socialise without having to travel out of your way, combat loneliness and enjoy the group activities offered onsite such as tennis, arts & crafts and aerobics, or organise events with your fellow residents.  Although there are many enjoyable onsite facilities and group activities, the advantages of retirement living mean that you only participate when you want to. Free to do whatever you want, whenever you want, split your time between watching your favourite movie in the comfort of your own home or connecting with like-minded people within your community.

Whether you choose to live an active or relaxed lifestyle, different retirement villages across Australia provide different opportunities, and you simply need to choose what works for you.  

Community Living

Moving to a retirement village can cut costs in terms of costly bills and travel expenses. Combine this financial freedom with the opportunity to be part of a supportive community and you may find an overall improvement in your well being and overall happiness. The common problem of social isolation as we age is counteracted by the opportunities for social interaction and community support offered by the village and other residents. Rest assured that help is at hand should it be required, providing you with peace of mind during the years that you dedicate to your personal health and happiness.

As already mentioned, it’s important that you make your decision based on your own personal circumstances, and what matters to you. To compare a number of different retirement villages in Australia, use our online comparison tool to help you with your research and decision making process.

twitter.com/SkyNewsRE/status/1041847118535643136

Appearance by Jessica Kinnear on 15 September 2018

In our ageing population, Retirement living is set to go through the roof - so to speak! Now thanks to the clever thinking of one Aussie lady, all the leg work is done for you. Jessica Kinnear launched http://CompareVillages.com.au  to avoid being ripped off and she joined us for more.

nestegg.com.au/retirement/12289-pet-friendly-with-an-onsite-chef-retirement-living-in-2018

By Lucy Dean on 31 August 2018

Aussie retirees’ tastes have shifted to lifestyle accommodation featuring onsite chefs and family- and pet-friendly spaces, the founder of a village comparison site has said.

Given Australia’s rapidly increasing retiree population, a transparent and easily navigable retirement living sector is critical, the founder of Compare Villages, Jessica Kinnear, told Nest Egg.

She said the comparison service came about due to the “major gap” in financial information about retirement villages, with exit fees in particular a source of angst.

However, beyond fee structures, today’s retirees also want to know which villages have bowling greens, billiards rooms, beauty salons and in-house chefs.

“Retirement living is really all about community living offering a certain lifestyle for seniors as opposed to somebody needing care,” Ms Kinnear explained.

“The main things that you'd be searching for are location, price and, then, certain services or facilities that you might be looking for ... You might be looking for a bowling green. You might want to be able to bring your pets, which I know is a big one for a lot of families looking into this.”

Retirees also need to be across the obligations that come with living in certain villages as there may be restrictions on alterations that can be made, garden maintenance and improvements.

“It's sort of like moving into an owner's corporation situation that there may be rules and regulations around what you can and can't do that are very different from owning a freehold property outside the community,” Ms Kinnear said.

“There are [also] assumptions that when they move in they go, 'OK, well we won't have to do any maintenance to our house'. But, there can be circumstances depending on the village where you do have to do your own maintenance and improvements. So, it's really just good to be aware of what your rights are.”

The comparison service allows users to compare fees, features and what to expect upon departure.

“This gives users an estimate of what they or their family could expect when they leave a village. We also have plain language fee explanations when you hover over each fee. This kind of transparency and education empowers consumers and avoids the feeling of being ‘ripped off’,” Ms Kinnear argued.

Retirement villages have generally been supportive of the new service, she added. However, there have been challenges in proving the positives to operators.

“Certainly the industry is changing a lot. They are much more focused on transparency than they ever have been. So, it's a good climate to persuade operators that this is actually in their best interest, because transparency and education will actually go to changing some of the negative perceptions that people have,” Ms Kinnear said.

“It still has been a challenge in some instances of having operators see the vision and realise that we can inform ourselves online more than ever before with any major purchasing decision and this is such a significant one.

“It’s sort of the last move that people will make or their last independent move, at least. They really should be fully informed.”

yourlifechoices.com.au/retirement/living-in-retirement/website-lifts-lid-on-village-fees

By Olga Galacho on 7 February 2018

A Victorian lawyer hopes to encourage greater transparency in retirement village contracts and fees through a recently-launched comparison website.

Founder and Managing Director of CompareVillages.com.au, Jessica Kinnear, blames confusing documentation for creating some of the misunderstandings about the retirement village sector.

“The retirement living industry in Australia is currently going through a challenging time, with much of the negative public perception stemming from insufficient transparency, misconceptions and complexity, particularly around fees,” said Ms Kinnear.

“We recognised that the large number of older Australians who were considering moving into a retirement village didn’t know where to start the process or how to adequately compare retirement living accommodation.

“Essentially people had no way to easily compare what is a complex product and this has led to a lot of confusion and complaints about the industry.”

CompareVillages.com.au details the different types of agreements available from operators, which can vary from state to state, as each jurisdiction has its own regulations for the sector.

Ms Kinnear told YourLifeChoices that the website is independent, but village operators do pay a fee when an enquiry is made on a listed property.

At the time of writing, there were just 118 village units listed – mostly in NSW and Queensland – but Ms Kinnear said that, in coming weeks, she expects hundreds more to be added.

Among the operators represented on the site are large operators such as Lendlease, Aveo and RetireAustralia, as well as small to medium-sized villages run by Lifestyle Communities, Regis, Japara, Greengate, and The Village Retirement Group.

According to CompareVillages.com.au, visitors to the free site will be able to:

•  compare retirement living fees (from entry fees, ongoing fees and departure fees), as well as lifestyle features such as village facilities and access to services
• enquire directly to the village operator for more information or to request a property inspection or village tour
• calculate a departure entitlement, which gives users an estimate of what they could expect to receive when they leave a village.

Before launching the site, Ms Kinnear was an in-house lawyer at Lendlease. Prior to that she was employed by law firm Russell Kennedy to offer legal advice to retirement village operators and prospective purchasers of units, although not at the same time.

Would you be more inclined to buy into a retirement village if you could compare several of them? Have you had problems understanding village contracts?

australianageingagenda.com.au/2018/09/26/new-site-offers-comparison-of-retirement-living-services/

By Sandy Cheu on 26 September 2018

A new website has been launched to allow older Australians to compare retirement living villages and find the best possible service to suit individual needs.

The free website, CompareVillages, provides clear comparisons of costs and services at retirement villages and reduces the complexity behind accommodation pricing with an in-built calculator.

It allows users to nominate a location, the type of property they are after, the lifestyle features they would like to have and the number of bedrooms, bathrooms and carparks they require. It also allows users to select additional features, including a pet-friendly location, access to a pool, gym, restaurant or tennis court.

It showcases villages from all over Australia and enables seniors to compare retirement living fees, including entry, ongoing and departure fees.

Features of the comparative service includes:

• listings from only retirement living communities to reduce confusion on the different services aged care facilities provide
• filters and specific search criteria tailored to retirement living
• showcasing different accommodation types and the features available including cleaning services and meals

The comparative website was created by retirement living lawyer Jessica Kinnear after discovering many clients experienced frustration when looking for retirement living facilities, particularly around contracts and fees.

Ms Kinnear said through her experience with retirement-living law, she encountered many seniors who were facing difficulties when they began to undertake the process of seeking retirement services.

“I increasingly became aware that people working within the industry understood it well, however people in the community did not,” Ms Kinnear told Australian Ageing Agenda.

She said the aim of the service is to “help people looking to move into a retirement community make a more informed choice.”

Ms Kinnear said there was a perception that the process to enter retirement living and residential aged care were the same, and many clients feared being ripped off due to their lack of understanding.

“It is in direct response to the need for greater transparency and simple comparison to enhance understanding and facilitate more informed decisions, and ultimately improve the experience of people looking to move into a retirement community,” Ms Kinnear said.

She said, “seniors are often neglected when it comes to online solutions to their problems.”

There was a glaringly obvious need for an online platform which helps seniors make the significant life decision of moving into a retirement community, Ms Kinnear said.

The website enables users to filter searches to narrow down services available from different providers, specifically on retirement living communities.

Lendlease, Aveo Group, Baptcare, Essendon Terrace, Japara Healthcare, Regis retirement living, RetireAustralia, and Greengate are among the retirement living providers listed on CompareVillages.

Ms Kinnear said the retirement living sector needs to have greater transparency about what’s involved in making the move to a retirement village.

“Operators needed to educate the community better and being more transparent about the fees involved would go a long way to better informing people about retirement living, and at the same time, restoring confidence in the sector,” she said.

Find out more information on CompareVillages here.

Media Release

For release: 1 February 2018

New comparison website brings greater transparency to Australian retirement living industry

Australia’s first and only website to comprehensively compare retirement villages launched today, bringing much needed transparency, comparability and education to people looking to move into a retirement community.

CompareVillages.com.au features retirement living properties from across Australia, with representation from some of the largest operators such as Lendlease, Aveo and RetireAustralia through to mid-sized and smaller operators including Lifestyle Communities, Regis, Japara, Greengate, and The Village Retirement Group.

CompareVillages.com.au Founder and Managing Director, Jessica Kinnear said: “The retirement living industry in Australia is currently going through a challenging time, with much of the negative public perception stemming from insufficient transparency, misconceptions and complexity, particularly around fees.

“We recognised that the large number of older Australians who were considering moving into a retirement village didn’t know where to start the process or how to adequately compare retirement living accommodation. Essentially people had no way to easily compare what is a complex product and this has led to a lot of confusion and complaints of the industry.

“Our website independently showcases retirement villages from all over Australia and displays them in a simple way so that people can, free of charge, weigh up the villages’ lifestyle features and assess their fees to help them make a more informed, educated choice,” Ms Kinnear said.

CompareVillages.com.au features include:

• The ability to compare retirement living fees (from entry fees, ongoing fees and departure fees), as well as lifestyle features such as village facilities and access to services
• The ability to enquire directly to the village operator for more information or to request a property inspection or village tour
• A departure entitlement calculator which gives users an estimate of what they could expect to receive when they leave a village.

“Growth in Australia’s retirement living industry is being fuelled by demand from people looking to downsize and by the increasing population of seniors, with the overall number of people said to be seeking retirement living expected to double to almost 400,000 by 2025. As a result, a strong, transparent and trusted sector is needed to support this future growth.

“As we’ve seen in other industries such as insurance and travel, consumers have already benefitted from enhanced transparency and comparability. Prospective retirement living residents are demanding the same from their industry for what is a significant life decision in their golden years,” Ms Kinnear said.

Visit http://comparevillages.com.au/

For media enquiries, contact: 

Emily Kinnear on 0408 359 184 or at [email protected]

tasmaniantimes.com/2018/11/new-comparison-website-takes-confusion-out-of-retirement-village-selection/

By Jessica Kinnear on 14 November 2018

CompareVillages.com.au is Australia’s first and only website helping Australians to comprehensively compare retirement living accommodation. Until now the retirement living industry has been shrouded in confusion, complexity and misconceptions, particularly around fees. Prospective purchasers had to research villages separately, often left to do their own comparison of potentially very different product, which can be daunting and time consuming. CompareVillages does the legwork for you and makes real comparison possible. 

Users of the site can nominate where they would like to live, the type of property they’re looking for, how many bedrooms, bathrooms and carparks they require, and select the lifestyle features that appeal to them – some want a pool, a gym, a restaurant or tennis court, for others the ability to take their pets, an onsite hairdresser or the option to have meals provided is key. Budgets are entered into the site and just like a Domain or Realestate, a number of options fitting the requirements are presented in a simple comparison table. Contact can be made through the site to the selected village managers. 

CompareVillages was founded by Jessica Kinnear, who worked as a lawyer in the retirement village space. She saw firsthand the confusion around the fee structures in the space and the desire for greater transparency. “I could see the need for a simple to use, free comparison service. A bit like an iSelect or Trivago for the retirement living sector,” says Jessica.

The site also publishes the fees associated with each property. Retirement properties are structured around three types of fees; entry fees, ongoing fees and departure fees*.

“We’ve even built in an easy to use departure entitlement calculator which gives users an estimate of what they or their family could expect when they leave a village. We also have plain language fee explanations when you hover over each fee. This kind of transparency and education empowers consumers and avoids the feeling of being ‘ripped off’,” explains Jessica.

Retirement living is very different to residential aged care or nursing homes. Retirement living is for seniors looking for a certain lifestyle. Many are downsizers. Research shows the social and physical benefits actually stave off the need for aged care**. 

CompareVillages features retirement living properties from across Australia and is growing its base all the time. It lists some of the largest operators such as Lendlease, Aveo and RetireAustralia as well as Lifestyle Communities, Regis, Japara, Baptcare, Greengate, The Village Retirement Group and Essendon Terrace, which are all supportive of the initiative. “RetireAustralia firmly supports greater transparency in the sector and believe Compare Villages is providing a much needed, independent service,” says RetireAustralia CEO, Alison Quinn, “Entering a retirement village is much bigger than a bricks and mortar decision and Compare Villages is helping potential residents make a well informed decision. It’s a great step for the sector.”

Australia has an ageing population. In 2015 3.6 million Australians were over 65 and this number is expected to balloon to 8.5 million by 2055. “With anticipated growth in demand for retirement villages a strong, transparent and trusted sector will be needed more than ever,” says Jessica. 

For more information visit https://comparevillages.com.au/: HERE

Jessica is an expert on the retirement living industry and can be interviewed about understanding fees and choosing the property that is right for you, as well as the lifestyle and health benefits surrounding retirement living.

news.com.au/finance/money/how-to-solve-cost-confusion-about-care-for-senior-australians/news-story/800836e2892aa1f4c3e981f4c5f95737

By ANTHONY KEANE, TIM McINTYRE on 1 October 2018

IT’S one of the most confusing challenges for elderly Australians, prompting many to leave it in the too-hard basket.

PLANNING and paying for retirement living is one of the most confusing challenges for seniors, prompting many to leave it in the too-hard basket.

Whether it’s retirement villages, aged care facilities or the booming home care sector, three quarters of Australians aged over 50 have not taken any steps towards getting what they want, according to McCrindle research.

It found that 40 per cent don’t think they will have enough money to pay for their aged care, but less than one in 10 have a savings plan.

“We think about retirement and holidays, but not so much about aged care,” said social researcher Mark McCrindle.

“People are living longer, working longer, it gives them a reason to worry about it all later. Then suddenly there’s a health issue or sudden event or illness and the decision becomes an urgent one.”

Mr McCrindle said almost nine out of 10 people wanted to live out their days in their own home, something the government also wanted because it was cheaper than institutional care. However, almost half of older Australians have not discussed their future care with anyone.

CareAbout CEO Kylie Magrath said families needed to talk about the options and packages available.

“Making the wrong decision can cost consumers thousands of dollars, with some providers taking 50 per cent of the government packages in fees, with the result being financial pain and inferior service for the consumer,” she said.

Ms Magrath said common traps included people being unaware of government support to stay at home, being unaware of schemes to self-fund aged care, and being stuck on waiting lists because they did not get in early.

CareAbout is one of a range of new advice, advocacy and comparison services starting up for ageing Australians. The Federal Government’s myagedcare.gov.au site has long been a source of education and tools for finding services such as home care packages and aged care facilities.

Retirement villages are a lifestyle decision rather than an aged care home move prompted by a health crisis, but Comparevillages.com.au managing director Jessica Kinnear said there was a common misconception that they were the same thing.

Retirement villages were often people’s “last independent move and there’s a lot of planning and thought that goes into it”, she said.

But just like aged care, there is confusion around fees and getting expert advice is a good idea.

“The fee that causes the most confusion and negative perception is the exit fee, or deferred management fee. That can be quite large,” Miss Kinnear said.

The three key fees paid for retirement villages are:

• ENTRY fees, typically the purchase price of a unit in a village;
  
• ONGOING fees for day-to-day running costs, usually charged at no profit for the operator;
  
• EXIT fees, often a percentage of the upfront purchase price or a portion of the resale price.
  

“Consumer complaints largely stem from not being properly informed of the financial implications,” Miss Kinnear said.

canberrabusinessnews.com.au/why/social-innovation/641-comparing-your-options-for-retirement-living.html

By Candice Edye on 21 December 2018

Until now the retirement living industry has been shrouded in confusion, complexity and misconceptions, particularly around associated fees and costs. Prospective purchasers have long been overwhelmed by having the daunting and often extremely time-consuming task of having to compare one retirement village to another.

As the first and to-date only website helping older Australians to comprehensively compare retirement living accommodation across the country, CompareVillages does the legwork for you and makes real comparison possible. It features retirement living properties from across Australia and is growing its base all the time. It also lists some of the largest operators such as Lendlease, Aveo and RetireAustralia as well as Lifestyle Communities, Regis, Japara, Baptcare, Greengate, The Village Retirement Group and Essendon Terrace, which are all supportive of the initiative.

Jessica Kinnear, the founder of CompareVillages, was working as a lawyer in the retirement village space and saw firsthand the confusion around fee structures for retirement living and the desire for greater transparency between the industry and its consumers.

“When I started working in the industry, I noticed a lot of frustration from members of the community as they tried to gain a better understanding of how it all worked, particularly with contracts and the fees involved,” says Jessica.

“I could see the need for a simple to use, free comparison service. A bit like an iSelect or Trivago for the retirement living sector.”

When the media started producing story after story on the excessive, or often hidden fees and costs associated with retirement villages, Jessica knew it wasn’t just consumers who needed this service, but the industry too.

“It became clear to me that transparency in this industry was becoming even more important - that’s what consumers are demanding, and they should have it.”

Users of CompareVillages can nominate where they would like to live, the type of property they’re looking for, how many bedrooms, bathrooms and carparks they require, and select the lifestyle features that appeal to them – some want a pool, a gym, a restaurant or tennis court, for others the ability to take their pets, an onsite hairdresser or the option to have meals provided is key.

Budgets are entered into the site and just like a Domain or realestate.com.au, a number of options fitting the requirements are presented in a simple comparison table. Direct contact to the selected village managers can also be made through the site.

“We find that retirees are our biggest users – in fact 50% of users on the website are over 65,” says Jessica.

“But we do find family members are looking on their behalf as well or are helping them to make their decision.”

The site also publishes the fees associated with each property including entry fees, ongoing fees and departure fees.

“We’ve even built in an easy to use departure entitlement calculator which gives users an estimate of what they or their family could expect when they leave a village,” explains Jessica.

“We also have plain language fee explanations when you hover over each fee. This kind of transparency and education empowers consumers and avoids the feeling of being ‘ripped off’.”

Retirement living is very different to residential aged care or nursing homes. Retirement living is for seniors looking for a certain lifestyle.

“There is a misconception around the difference between retirement living and aged care facilities,” says Jessica.

“The retirement village offering is independent living, and the value proposition is the lifestyle offering that it can provide someone looking at their next stage of living, particularly for those looking to downsize but are still wanting to keep their independence.”

A report by Grant Thornton in 2014[1] found that retirement village residents live independently for five years longer than the national average.

“Research has shown that the social and physical benefits of living in a retirement village are able to stave off the need for aged care services for longer.” says Jessica.

In 2015, 3.6 million Australians were over 65, with this number expected to balloon to 8.5 million by 2055.

“With anticipated growth in demand for retirement villages a strong, transparent and trusted sector and a comparative service like CompareVillages will be needed more than ever,” says Jessica.

[1] https://www.grantthornton.com.au/insights/reports/national-overview-of-the-retirement-village-sector/ 

startupdaily.net/2018/10/comparevillages-aims-bring-transparency-retirement-living/

By Gina Baldassarre on 3 October 2018

Australia’s retirement living sector is worth $5 billion, with statistics from the Property Council of Australia finding over 185,000 Australians – or 5.7 percent of over 65s – currently live in retirement villages; this is expected to grow to 7.5 percent by 2025.

For many Australians, however, the retirement living space is shrouded in mystery: it’s hard to find and compare villages, what’s on offer, and what all the different types of fees are for and why.

Aiming to bring some transparency is CompareVillages, a platform helping users, well, compare retirement villages.

The idea was born out of founder Jessica Kinnear’s experience as a lawyer working across the retirement living space. Having worked at developer Lendlease, which owns and operates retirement villages, and Russell Kennedy Lawyers, a firm specialising in retirement living law, Kinnear often dealt with both operators and residents experiencing common frustrations.

“For people considering moving into a retirement village, consumer feedback is that they don’t understand what retirement living is all about – for example, that it’s distinct from aged care – nor do they understand the fees involved,” Kinnear explained.

Kinnear believes the problems are threefold: the sector is full of complex financial terms, there is a lack of transparency, and industry is failing to properly educate the community about their offerings.

“Being more transparent about the fees involved and explaining why they exist would go a long way to better informing people about retirement living, and at the same time, restoring confidence in the sector,” she said.

Kinnear’s solution is CompareVillages, launched earlier this year with the aim of bringing transparency to the sector. The platform allows users to find and compare villages and their fees, including entry, ongoing, and departure fees, with explanations for each given in plain, easy-t0-understand language.

A departure entitlement calculator, meanwhile, allows users to get an estimate of what they ought to receive when they leave.

For Kinnear, this was “an obvious problem to solve”.

“As I see it, seniors are often neglected when it comes to online solutions to their problems. There was a glaringly obvious need for an online platform which properly assists seniors make the significant life decision of moving into a retirement community,” she said.

Having mulled over the idea for almost 10 years, Kinnear decided earlier this year the time was right to take the plunge and began work on the platform. She started by designing an initial concept and then working with a developer to produce interactive wireframes to test with seniors and operators of retirement villages.

“While most operators thought the idea was great, some were hesitant to disclose their fees online and queried whether they would actually receive more or better leads than from their existing marketing pursuits,” Kinnear said.

Perseverance, Kinnear said, eventually saw her launch with 10 on board, but she admitted that navigating the world of entrepreneurship has been challenging, particularly as a solo founder.

“It’s one thing to have a great idea, but having an online business is much more than building a great website.  You’ve got to wear many hats to make it succeed and I’m determined to achieve what I set out to – for it to be the most useful and trusted online resource for people considering moving into a retirement community,” she said.

“I am also adamant to remain independent and for no retirement living operator listings featured on the site to be favoured over others.”

Rather than ads or premium listings, CompareVillages will take a fee for each enquiry an operator receives through the platform.

Operators on CompareVillages are able to manage their listing and content, with this then submitted to CompareVillages for publishing.  

“As we are asking for more information than any other website featuring retirement villages, it can be more tedious for operators to set up the listings,” Kinnear admitted, “however we provide assistance to make it easier.” 

Meanwhile users – seniors over 65, and their kids – can search villages by location, type of living – such as independent living unit, serviced apartment rental unit – price, number of bedrooms and bathrooms, and lifestyle features specific to retirement living, Kinnear said.

Places that are of interest can then be added to a comparison table, which Kinnear explained compares entry prices and lifestyle features. From there, users can receive more detailed legal and fee information after sending an enquiry to an operator.

From downsizing.com.au to seniorlivingonline.com.au, Kinnear said there are competitors in the market however she believes CompareVillages offers a unique proposition in that it focuses solely and extensively on retirement living.

With this in mind, Kinnear’s goals for the coming year are clear: she is aiming to sign up at least 70 percent of the retirement village market, and in turn increase consumer awareness of the platform. She is also planning to include a consulting service.

Announcement:

For release: 8 May 2020

Compare Villages to relaunch its website to a new consumer-focused version and provides support through a new online Compare Villages Community

In the last two years since CompareVillages.com.au launched, it found solid success with providing a place that clearly set out and compared retirement villages’ lifestyle features and their fees – the only Australian website to balance comparing ‘product’ and ‘price’ in retirement living accommodation. 

Compare Villages Founder and Managing Director, Jessica Kinnear said: “Being an experienced retirement living lawyer, the problem I was aiming to solve was what I had perceived to be a lack of knowledge in the community about retirement living, particularly around resident contracts and fees.  The opportunity for retirement living operators was simple – be proactive and voluntarily disclose their fees online to better educate consumers and help them make more informed decisions, which would go to improving the negative public perception of retirement villages owing to “complex contracts” and “hidden fees”.”

​Together with requiring operators to upload their resident contract fee information, ​the website enabled them to list their ​villages and any ​homes for sale with no upfront fee charged to do so, only a small fee charged to them per genuine enquiry generated from the website.  The opportunity saw a range of operators come on board including the larger ones, however, others found the prospect of voluntarily participating in a transparent ​online comparison, a challenge. 

Today Compare Villages has announced it will ​relaunch its website, from its current model where operators manage their village listings including features and fees, to instead collecting and maintaining ​this information itself, therefore now requiring consumers to subscribe to view and compare ​resident contract fees.

“Our decision to pivot – now maintaining the information ourselves and becoming consumer funded – will ensure complete independence from operators.  This allows us to provide a fuller service offering to consumers with the ability to tap into unique insights from the Compare Villages resource, including providing retirement living legal advice to residents and prospective residents, without any conflict with operators.  The ultimate vision is to become the leading advocacy service for retirement living customers in Australia,” said Jessica Kinnear.  

Over the coming months, CompareVillages.com.au will be making changes to the website for the relaunch and listing all retirement communities in the Australian market.  When ready it will be clear to users which operators have chosen to provide their fees where they’re not otherwise available.  

In addition, Compare Villages has set up an online Compare Villages Community for people who have a question or comment about retirement living, as a place to make themselves heard, connect with others in the community who may be able to help and receive expert guidance from Compare Villages staff.  ​If you are living in a retirement village or community, or thinking about moving into one, you’re encouraged to join.  Jessica is also personally available to provide retirement living legal advice through ​her legal practice, Kinnear & Co. Lawyers.  

“It’s an interesting time to expand our offering for consumers, given people may be hesitant to move into a retirement village at the moment.  However, they may take this time to reflect on where they are and what their next move will be once this difficult period is over.  I know there are many people isolated in their own homes ​right now.  A retirement community may offer the security and support needed into the future,” said Jessica Kinnear.

For media enquiries, please contact: 

Emily Kinnear on 0408 359 184 or at [email protected]

thebusinesswomanmedia.com/key-launching-online-business/

By Jessica Kinnear on 24 November 2018

So you’ve got a great idea for an online business but no experience with website development.  Where do you start? Here are the three key things you should consider if you want the business to be successful.

1.  Find the right development agency

A referral from someone you can trust who works in the digital space or who has founded their own online business is a good idea.  From there, it’s working out what services they can provide to get the website built and whether they can continue to work with you to help it grow.

I’ve found that working with a small agency who are hands on and whose fees aren’t as steep as larger agencies has worked for me.  It helps if they believe in you and the concept of your business so that they are engaged and motivated to go along the journey with you.

Regarding the different services you need, there’s pure development aka coding (backend and front-end), design (backend and front-end), user experience (how easily does a user navigate your website and do they do what you want them to do), understanding of your business model/conversion rate optimisation which underpins good design and user data/analytics (e.g. traffic, conversions, demographic, behaviour).

For me, it was great to find an agency that did all of these things in-house including coding which can often be off-shored.  This way, communicating intended functionality was easy and they were quick to respond to small changes.

The downside of a small agency is that they may also want to grow so have competing client demands while on-boarding new staff and so you find the work takes longer and longer.  If they were only focused on the website build and not the resources required for ongoing improvements to help it grow, this can be a problem.  Understand from the beginning what their vision is and outline what you see them helping you with going forward.

If you’re a two-sided marketplace, data is important not only to see how your online business is performing (and imperative if you’re looking for funding), but for your customers to know how their listings are tracking and to encourage new customers to come on board.  It’s therefore important to have someone who is familiar with the tools required to track relevant data and can interpret it for you/your customers.  This can either be your development agency or digital marketing agency (more on this below).

2.  Find the right digital marketing agency

Finding the right digital marketing agency can be challenging, especially if you have no marketing experience.  You’ll need to get your head around certain acronyms like SEO (Search Engine Optimisation), SEM (Search Engine Marketing) and PPC (Pay Per Click).  SEO optimisation is optimising search organically through a number of different ways, but ultimately your site needs to be the most relevant when it comes to the particular search done e.g. with relevant content.  This takes time to develop and grow.  SEM, on the other hand, is paid search where you can pay your site to rank with certain search terms and you will “pay per click” on these terms.  However, relevant content is still important and if your site isn’t relevant to the terms bid on, your ranking will be downgraded and you’ll pay more.  This is to ensure the user finds the most relevant site to what they’re looking for which is essential for the user search experience.

Again, it helps to get a recommendation for a good digital marketing agency or person.  They’ll need to understand your site, how it works, your offering and the industry in which it operates in order to put together a decent SEO and/or SEM campaign.  Knowledge of competitors also helps.  You’ll have to drive and nurture this understanding if you really want it to succeed.  If you’re an aggregator or comparator service, ask if they’ve had previous experience with these kinds of businesses to give you the best outcome.

Also, have a budget and ask them to give you an expected return on investment.  Some search terms will be more competitive and therefore expensive, which will eat up your budget, so it’s important for your agency to develop a strategy around which terms are worth targeting within your budget.

Ensure that they appreciate how you make money and what is a conversion event on your site – for example, is it a click on a phone number, form submitted or purchase made?  They need to understand this properly in order to track paid search through to conversion events in order to optimise the paid search strategy, i.e. what search terms are giving you the most conversions.

As with a data/analytics tracking account (e.g. Google Analytics), it’s useful to have paid search accounts (e.g. Google AdWords and/or Bing Ads) and any other optimising, tracking or tagging accounts (such as Google Search Console and Google Tag Manager) in the company’s name, not only to change agency access if necessary, but so that you have visibility into these accounts.

Ask what other digital and other marketing services they can provide if this is important to you, e.g. social media marketing, email marketing and other advertising.  A good agency will have insight into your users (both sides if this is the case) and will be able to work with you to put together a suitable strategy.  It may be that certain marketing activities don’t fit within the values of your business, so discuss these with them and work out what you’re comfortable with.

3.  Don’t forget to market your business offline too

Just because your business is an online business doesn’t mean your consumers don’t consume traditional media such as radio, TV, newspapers and magazines.  A strong traditional advertising or publicity campaign can drive traffic to your site.  Find interesting angles to raise your profile, or that of your business, and either pitch those to the editors or producers of the media or employ someone to do this on your behalf such as a PR agency.

As a start-up business, I’ve found that working with a PR agency is a cost effective way of achieving good exposure and credibility.  If you’re the founder, be prepared to tell the story that lead you to launch your business baby, as people want to know who’s behind it.

Choosing the right agency can be difficult.  Again, a recommendation from someone is ideal and it helps if they’ve had previous experience with your sector, if not, your consumer demographic.  That way they will have the relevant contacts to pitch your story to.

Another bonus from PR is any online publications that feature your business and publish a link to your website will help with your website’s SEO.  Ensure your website address is stated on your media release or pitch email and is also hyperlinked in your copy.