Opinion

Rents are rising in age care facilities, too

The equivalent to daily rent on a room in residential aged care will increase from 7.9 per cent to 8.15 per cent from October 1.

Bina BrownContributor

Sep 22, 2023 – 12.50pm

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The cost of living has an impact in every aspect of our lives. Whether it is food, utilities, fuel or mortgage or rent payments, we all pay more for most things.

Aged care is no exception. Changes to the maximum permissible interest rate (MPIR) from October 1 mean the equivalent to daily rent on a room in residential aged care will increase to 8.15 per cent from 7.9 per cent.

Bina Brown is a director of Canberra-based aged care solutions company Third Age Matters.