Retirement Village Operators: Are you compliant with the new
From July 1, 2022, all operators of retirement villages must prepare and keep up-to-date an asset management plan that complies with the Retirement Villages Act 1999 and the Retirement Villages Regulation 2017.
Click here to see what the plan must include:
- 1. An Asset Register of the village’s major items of capital, including information about the effective life of items of capital.
- 2. A maintenance schedule of the village’s major items including tracking maintenance and repair of each asset.
- 3. Operators must also prepare a three-year report for capital maintenance extracted from the asset management plan to inform expenditure for the annual budget.