Imagine life as an affordable housing provider in a housing crisis, with more property than you know what to do with, in a growing market serving Australia’s ageing population and backed by the country’s biggest superannuation fund. What could go wrong?

If you listen to Lifestyle Communities’ rivals, it is greed. The property owner with a stronghold of Victorian over-50s residential parks worked hard to keep rivals out of the state, charges fees that eat up tenants’ capital gains and, now that it has fallen foul of the state’s Civil and Administrative Tribunal, isn’t deserving of sympathy.