Australia’s Retirement Living sector is approaching a significant policy shift. Following New South Wales' lead in legislating mandatory Asset Management Plans (AMPs), several other states – Victoria, South Australia, Western Australia and Tasmania – have announced their intent to introduce similar requirements. Already drafted or in consultation, these reforms are expected to take effect sooner than many anticipate.
With limited time to adapt, operators should begin considering how these changes will affect their operations and what systems, data and approach may be needed to support them.
Recognising the operational challenge
For many retirement living providers, asset management is not yet a defined discipline. Maintenance and compliance activities are often informal, and many operators lack consolidated, up-to-date asset data. The availability of accurate, real-time asset information that forms the foundation of the asset register is essential for effective compliance and reporting. Without it, operators face difficulties in producing structured, forward-looking reports that meet regulatory standards and can be confidently shared with residents.
Layered on top of this is the growing pressure on internal teams. Operational and village staff are already working at capacity. Adding a new layer of compliance includes requirements for timely, repeatable, and accurate reporting. This creates an immediate need for scalable, sustainable systems.
Creating confidence and transparency
While regulatory compliance may be the trigger for action, there is a broader opportunity for retirement living operators. Well-executed asset management brings the following benefits:
Transparency between operators and residents: Establishes clear, defensible evidence of how funds are allocated and why, which builds trust and ensures transparency.
Relieving pressure on already stretched teams: With facility teams operating at or beyond full capacity, a scalable, repeatable solution can reduce pressure by automating time-consuming tasks and improving operational efficiency.
Optimising resource allocation: Operators are concerned about whether they can meet new reporting requirements with existing staff and resources. A streamlined solution ensures compliance without adding strain to teams.
Structure and predictability in capital investment planning: Provides a clear framework for capital investment, ensuring better long-term planning.
Timely and accurate reporting: Ensures that asset data is consistently reported, regardless of staff changes or resource constraints, facilitating accurate and reliable reporting.
Scalable and repeatable processes: Technology-driven solutions ensure that asset data capture, reporting, and lifecycle forecasting are efficient, scalable, and meet compliance obligations.
That’s why at AssetFuture, we've leaned into technology to make reporting not only compliant and scalable, but secure, repeatable, and practical.
A proven methodology
AssetFuture has already supported dozens of Retirement Living operators in meeting these exact requirements, by establishing structured and compliant asset management plans across thousands of units.
What made the difference was our approach: purpose-built tools, repeatable processes, and deep sector experience. Our technology platform enables efficient asset data capture, condition assessment, lifecycle forecasting, and reporting – all designed to meet compliance obligations while delivering operational value.
AssetFuture has a depth of experience, a fully refined process and consistent condition assessment framework to enable rapid, quality-controlled Asset Condition Assessments. We support the creation and validation of Asset Registers to a component level, along with Data Currency services to maintain data integrity for compliance and forecasting.
With policies now emerging in new jurisdictions, operators across Australia can take advantage of these learnings. There is no need to start from scratch. The systems, templates, and best-practice methods already exist – and they work.
Positioning for success
The policy changes on the horizon are more than a regulatory formality. They signal a shift in expectations toward greater transparency, more structured planning, and stronger engagement with residents.
AssetFuture is ready to support operators through this transition. As an asset management specialist, we bring tested experience, proven systems, and a practical approach that has already delivered results across the retirement living sector.
For providers looking to ensure compliance and create a defensible, future-ready asset management approach, now is the time to act. Contact us today.