Changes to Victoria's Retirement Villages Amendment Act 1986

What the new legislation means for village operators in Victoria

From 1 May 2026, Victorian retirement village operators will be held to new standards in asset management,
maintenance and financial transparency.

These changes, under the Retirement Villages Amendment Bill 2024, will make retirement village operations fairer and more transparent by holding operators directly responsible for capital maintenance, replacement, and budgeting shortfalls -- and providing stronger protections for residents.

Getting started now gives you time to audit your data, build internal capability, and avoid a last-minute compliance scramble.

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What's changing?

Operators are now fully responsible for funding capital maintenance and capital replacement.

Operators must develop a Capital Maintenance Plan, which includes forecasting major works, setting timelines, and explaining how they'll be funded.

Annual maintenance charges must be clearly broken down, including the services covered and the associated staffing costs.

Residents can't be charged for capital upgrades when they leave -- only for fair reinstatement.

If operators over- or under-budget, they must cover the difference.

Why it's time to rethink asset management

While most operators assume they're ready, how many have the data they need? Data that's regularly updated and delivers the requested level of reporting and transparency?

To determine the level of preparedness, operators need to ask themselves:

When was the last time you audited your asset register? Can you say, with certainty, that your asset data is current, complete, and structured?
Do your forecasts reflect actual changes in asset condition, or are you guessing?
Can your current process reliably prevent under-budgeting?
Can you show how an asset has degraded over time, not just depreciated?

Transparent asset data doesn't just meet compliance. It's an opportunity for village operators to build stronger, trust-based relationships with residents.

Understanding the critical difference

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Why AssetFuture

AssetFuture has supported and modelled over 40% of NSW village units on their compliance journey, and our proven methodology is tailored to the operational and compliance demands of retirement living operators.

40%

of NSW village units supported

Whether you have existing systems or are starting from scratch, AssetFuture's platform can integrate, fill gaps, and create structured, future-ready asset management frameworks aligned with government guidelines.

Get ahead of the curve

Building accurate asset registers, forecasting costs, and implementing the right systems takes time.

Start now to avoid financial and reputational risk – and to stay in control.

Get in touch today