Ads and emails making misleading claims about investment in specialist disability accommodation may breach consumer law, watchdog says
Social media ads seen by Guardian Australia, which often used NDIS logos, promised high annual returns for each specialist disability home.Social media ads seen by Guardian Australia, which often used NDIS logos, promised high annual returns for each specialist disability home.Industry insiders and corporate watchdogs have warned “cowboys” making unrealistic promises about investments in disability housing may be breaching consumer law, while urging extreme caution from investors.
Recent social media ads seen by Guardian Australia, which often used NDIS logos, spruik annual returns of up to $20,000 for each home, with weekly rental incomes of several thousand dollars and tenancy guarantees.Others promised gross rental yields of more than $200,000, and some flagged returns of up to half a million dollars from dual-income SDA homes.
“This is not accurate, it is immoral, and advertising like this needs to be addressed before the industry is permanently scarred by these cowboys.” SDA providers also told the Summer Foundation that “spruikers were spreading inaccurate or misleading information about the nature of SDA and the revenue produced by an investment in SDA.”The foundation called for help from government to “address misinformation” and “tackle incorrect perceptions about SDA returns”.
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