Implications of the Retirement
Villages Amendment Act 2022 - What you need to know

The retirement living sector in New South Wales has new legislation around the requirement of asset management plans, that came into effect July 1st.

Retirement Villages Amendment (Asset Management Plans) Regulation 2021

To create better certainty across asset management for both operators and residents, those operating in the State’s retirement living sector must now comply with the introduction of asset management plans for each village you manage or operate and, obtain a required independent assessment by qualified Quantity Surveyors on the initial asset management plan you prepare; before making the plan available to current and prospective residents.

If the Act applies to your business will need to consider the requirements of this Amendment and its application to your business.

Donald Cant Watts Corke (DCWC) is pleased to provide this brief paper, outlining the legislation changes in the Retirement Villages Amendment (Asset Management Plans) Regulation 2022, and how to best prepare your village to comply.

This 3-page guide covers:
• The purpose of this legislation change;
• The four key elements to consider to comply with the Act;
• Getting the right advice and support as an independent auditor.

Complete the form to download your copy or reach out to our specialists for consultation →