Best Practice

In 2022, the Retirement Village Residents Association (RVResidents) began developing a Best Practice Score that would objectively rank village providers. To ensure the score was based purely on factual data rather than subjective information, RVResidents focused on 19 Key Terms found in each villages Occupation Rights Agreement (ORA). Virtually all of these terms have financial implications.

The Process: Each answer is allocated a % score based on RVResidents Best Practice, and then weighted according to level of importance, in general, by residents. A second score called a ‘Capital Gain Balancer’ is then added. This replaces the previous use of two total scores in our 2023 magazine, by taking into account the questions highlighted with a green triangle on the Best Practice Survey page. We’ve identified these questions as having the opportunity for both operators and residents to share in costs if a resident is sharing in the capital gain. An operator could then score more if they have minimised the cost to residents, eg. if an operator is sharing capital gain BUT doesn’t share the capital loss, then they will score maximum points for not sharing capital loss. This rewards those operators prepared to share capital gain with residents while protecting them from market fluctuations. The Capital Gain Balancer Score allows operators the opportunity of up to 45% extra with each question it.

* The question ‘Operators Legal Fees’ is if the resident must pay for the operators legal costs associated with relicensing.

Best Practice Scores / Grades

The table below displays the current best practice scores. To find villages alphabetically or view villages by their score:

* You can sort on the names or answers by clicking on the column headers
* Scroll to the bottom of the table and to the right to find the pagination, and more answers
* NOTE: An F* grade means that the operator has either not responded, declined to supply their Key Terms, or where RVResidents is yet to update it from information available in the public domain.
* NOTE: The table will be updated within the first week of each month

Date as of 04-03-2024 E&EO
Click here to download the complete spreadsheet