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.