✨ Pricing; Costs; Finances

First quarter statistics are available for those interested on the NIC website.

View NIC Article >>

Richmond Shreve

NaCCRA Board Member

Forum Moderator

I'm not familiar with these statistics and have a question about how IL "Occupancy" is defined. My CCRC counts as "sold" any unit where they have taken a minor refundable deposit ($10k) even though it may be months before the unit starts generating monthly fees. How is the occupancy defined in the article?

I had trouble finding the answer, so I asked ChatGPT. Here is what it came up with:

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NIC defines CCRC occupancy using an “all-occupancy” approach, which:

• Includes all occupied units, even those still in lease-up (i.e., units where a contract or deposit exists but the resident has not yet moved in) nic.us-ord-1.linodeobjects.com+12nic.org+12nic.org+12.

This confirms that NIC does not limit occupancy counts strictly to revenue-generating (i.e., move-in and paying) units — they also count units with a deposit or lease pending move-in.

🧩 Clarifying the Definition

• All‑occupancy = Units occupied plus units in lease-up (e.g., new residents with signed contracts/deposits) nic.org.
• This contrasts with stabilized occupancy, which focuses on mature properties only (typically those over two years old or with at least 95% occupancy) nic.org+7nic.org+7nic.org+7 — but your interest seems to be in the broader “all‑occupancy” definition.

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Richmond Shreve

NaCCRA Board Member

Forum Moderator

Thank you. I did not expect a personal research assistant.