OCA - Oceania Group - retirement villages

[percy]

I've been in that position. Unit sold before deceased in the ground full cash settlement within 4 weeks of funeral. These places dont like empty units. They are about the living. and neigbours dont want a vacant place reminding them of the dead and their near future. Also miss out on full monthly fees.

These villages already have tradesmen on tap -, constant turn of units = constant work.

Chalk and cheese with time shares.

Seasons dont matter to the infirm, or those ready to move

In that case they should have no issues including the 6 month buy back clause.
No clause,no Percy.Simple as that.

[percy]

Anecdote is a dangerous thing when it is transposed from ones own experience with an unrelated entity to ones no experience with another entity. Give OCA a chance to work the policy, it seems prudent in the current market climate, if they can't sell properties within the 6 months, then they have a prudent risk sharing policy.

Think like the investor that you are, not like your loved ones' estate is exposed to some conspiracy to not sell their property when there is no evidence that that is the case.

jmho,
BAA

I only invest using my own experiences.
It really works.

[RTM]

We

Think like the investor that you are, not like your loved ones' estate is exposed to some conspiracy to not sell their property when there is no evidence that that is the case.

jmho,
BAA

I think that’s exactly what Percy is doing. Putting himself in the position of one of Oceania’s customers and wondering if they would buy with that change. If lots of customers think like that......

[kiwico]

These are non interest bearing liabilities, (with one caveat) and you are quite right that they do not have to be paid until the unit is resold to a new incoming resident.

In addition, the Retirement Villages Code of Practice 2008 requires such liabilities to be repaid to a resident if their unit cannot be lived in due to damage to the unit, such as following an earthquake or fire, where the unit is not repaired / rebuilt and a resident's Occupational Right Agreement is terminated. This includes any of the up to 30% (typically) that might have accrued to the retirement village operator. However both parts, the original capital sum paid by the resident and the fixed charge that accrues to the village owner, are insurable.

Clearly this should not be an issue if the damage is minor but could be if the event of major damage and if the liabilities have not been insured. The same would apply to SUM others.

[couta1]

So OCA to join the NZX50 in may by the looks, good news.

[winner69]

So OCA to join the NZX50 in may by the looks, good news.

Good

Needs all the help it can get eh .....like even you, JT and Liz buying heaps hasn’t really helped (except arresting the slide)

[Beagle]

So OCA to join the NZX50 in may by the looks, good news.

Is that official mate ?

[couta1]

Is that official mate ?

According to Business desk so I guess they didn't pluck the info out of thin air.

[Well Endowed]

May 3rd

https://www.nzherald.co.nz/business/...ectid=12223335

[dabsman]

I wont hold my breath as when ATM was added to indexes absolutely nothing happened haha. So there is enough free float to join the index?