Amendments to Retirement Village Asset Management Plans
Guidelines for Retirement Village Asset Management Plans have been amended and respond to some concerns of operators and residents about the responsibility of preparing and reviewing the asset management plan.
On page eleven it states that there are two avenues to cover the costs of an asset management plan, via capital works fund or recurrent charges. Residents' consent must be obtained for either of these expenditures.
The Guidelines were published on the NSW Gazette on 10 September, 2021.