The managing director of Lifestyle Communities has announced his retirement, three months after a 7.30 investigation into the company exposed the high fees it charges residents when they leave its developments.
The company runs "land lease" developments where residents buy homes — usually a manufactured or moveable dwelling — and then lease the land underneath it. Mr Gauci said he started pursuing the issue after learning that a rival land lease operator, property development giant Stockland, does not charge exit fees.
In a statement to the ASX, Mr Blight praised Mr Kelly for "creating a thriving business grounded in purpose and strong culture". "I extend my heartfelt thanks to our homeowners for their trust and support. Witnessing their experience in our communities has been the most rewarding aspect of my role, and their stories will always remain close to my heart."Responding to the investigation, Lifestyle said charging the exit fee at Wollert was legal and most operators did so.