More rental villages start to show a profit, including Eureka’s old Village Life villages

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Rental village group Eureka Group has followed Ingenia’s profit announcements about its rental villages. Eureka made a maiden profit of $686,000 from ownership or management of approximately 36 rental villages. Unlike Ingenia, they have moved to independent manager contracted villages that deliver 88% occupancy compared to their employee managed villages that deliver 72% occupancy. Eureka is also forming an aged care division as many rental village residents are waiting for free care beds or are in transition from hospital.