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Changes to Western Australia’s Retirement Villages Act 1992

What the new legislation means for village operators in Western Australia

In late 2024, the Retirement Villages Amendment Act 2024 (the Amendment Act) was officially passed in Western Australia, introducing significant reforms to capital maintenance planning, budgeting, and financial transparency for retirement village operators.

These reforms – coming into effect following supporting regulations in late 2025 – will make long-term asset planning mandatory, requiring operators to prepare and maintain formal capital maintenance and capital replacement plans, backed by a dedicated maintenance fund. The goal: clearer, fairer operational standards for residents and operators alike.

Getting started now gives you time to audit your data, review your processes, and avoid compliance risks once the regulations come into force.

What's changing?

WA operators will soon need to meet strict new requirements under the amended Act and supporting regulations:

Operators must develop and maintain a Capital Maintenance and Capital Replacement Plan that covers a minimum five-year period.
Plans must detail major works, forecast costs, set timelines, and explain how works will be funded
Operators are required to establish a dedicated Capital Maintenance Fund, with all resident contributions held separately from other operational funds.
Capital Maintenance and Replacement Plans must be reviewed each financial year and provided to residents at least one month before the Annual General Meeting (AGM).
Operators must formally consult with residents on the plan and any proposed amendments, with clear processes for notification and feedback.
Transitional arrangements will apply, with operators given three months from the commencement of regulations to formalise their plans and maintenance fund.

Why it's time to rethink asset management

Many operators believe they’re prepared – but how accurate, current, and structured is the data you’re relying on? Can it deliver the reporting and transparency the new WA regulations will demand?

Operators need to ask themselves:

  • When did you last audit your asset register? Is it complete and reliable?
  • Do your forecasts reflect actual asset condition – or just estimates?
  • Can your current process prevent over- or under-budgeting?
  • Are you tracking how assets degrade over time, not just depreciate on paper?
  • Reliable asset data is more than a compliance requirement. It builds stronger, trust-based relationships with residents and improves long-term operational certainty?

What you'll need to get right

To help you prepare, we’ll be exploring these key areas in detail over the coming months:
How VIC Retirement Villages Can Stay Ahead of New Asset Management Rules

First blog exploring the fundamentals of preparation

Read Now
Is Your Asset Data Fit for Purpose? Why Accuracy Matters Under Victoria's New Retirement Village Reforms

Deep dive into data accuracy requirements

Coming Soon
Resourcing for Compliance: Building Capability to Meet VIC's New Standards

Human capital and capacity planning

Coming Soon
Getting Ready for WA's New Legislation: Are Your Tools Fit-for-Purpose?

First blog exploring the fundamentals of preparation

Coming Soon
IRT's Vision Delivers Transparency and Asset Efficiency

How IRT achieved compliance excellence

Case Study
Uniting: Achieving best practice now and into the future

Building future-ready frameworks

Case Study
Baldwin Living: Vibrant and sustainable retirement living

Digital transformation success story

Case Study
RFBI: Leveraging data to deliver exceptional quality retirement living

Data-driven quality and compliance

Case Study
Smarter Capital Renewal Planning Under the VIC Reforms

Strategic planning for capital works

Coming Soon
Guide to asset degradation vs depreciation ready for 2026

Understanding the critical difference

Coming Soon

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.

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.

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