As you may have recently discovered, the Retirement Villages Amendment (Asset Management Plans) Regulation 2021 came into effect in February 2021. For Retirement Village Operators, this means a significant effort to firstly assemble an asset management plan, and then continuously monitor, update and amend it – all while allowing visibility to their residents. But with […]
Click here to view the NSW Fair Trading Department of Customer Service Secretary’s guidelines for retirement village asset management plans.
All operators of retirement villages must prepare and keep up to date an asset management plan that complies with the Act and the Retirement Villages Regulation 2017. What is an asset management plan? An asset management plan documents the costs of purchase, and ongoing maintenance, repairs and replacement of a retirement village’s major items of […]