In NSW, retirement village operators are regulated by the Retirement Villages Regulation 2017 (the current Regulation), which supports the Retirement Villages Act 1999 (the Act).
The current Regulation will expire on 1 September 2025. Remaking the Regulation allows the NSW Government to consider feedback on how to improve, modernise and streamline the current laws.
The proposed Retirement Villages Regulation 2025 (proposed Regulation) makes significant changes to the asset management plan requirements for retirement villages. The updates aim to improve transparency for residents and reduce unnecessary administrative work for operators.
The key changes include:
- reducing the amount of information that operators must record on the retirement villages asset register
- requiring operators to prepare a 1-year capital maintenance report as part of the annual budget process, instead of a 3-year report
- requiring operators to record the ‘remaining effective life’ of capital items instead of ‘effective life’.
The proposed Regulation also makes other minor changes to clarify the laws and improve how they operate, for example, by ensuring key information is disclosed in a form that is easier to understand and accessible.
Changes are described in detail in the:
- Regulatory Impact Statement – Proposed Retirement Villages Regulation 2025
- Retirement Villages Regulation 2025 public consultation draft.
Your feedback will help to ensure retirement village laws balance the rights of residents and support operators.
Have your say by 12 March 2025.
Survey
About the survey
This survey includes 9 topic areas and will take about 10-15 minutes to complete. You can choose to skip through any topics that are not relevant to you.
Most survey questions include an explanation of the proposed changes. For detailed information, download the Regulatory Impact Statement - Proposed Retirement Villages Regulation 2025.
Upload a written submission
Other ways to have your say
Submissions must be emailed or posted by 5pm (NSW time) on 12 March 2025.
Email: RVRegulationRemake@customerservice.nsw.gov.au
Post:
Retirement Villages Regulation 2025
Policy & Delivery
NSW Fair Trading
4 Parramatta Square, 12 Darcy St
Parramatta NSW 2150
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