Are you – and your residents – confident in the accuracy of your Asset Management Plan (AMP) reporting? Four years after NSW led the nation by mandating AMPs, the sector is more experienced, but the expectations have also evolved.
With the Retirement Villages Regulation 2025 now in force, it is an important time to reassess whether your AMP approach continues to meet the regulatory standard and the needs of your residents.
A refined legislative framework
The new regulation, which came into force on 1 September 2025, builds on the original 2022 requirements by introducing clearer, more defined obligations for operators.
One of the most significant updates is the requirement for NSW operators to determine and record the remaining effective life of capital items – either using ATO guidelines or by assessing the item based on its actual condition and expected future use.
This is a shift from 2022, which referred only to the effective life of assets. By requiring operators to demonstrate remaining effective life, NSW Fair Trading is placing greater emphasis on lifecycle transparency, informed planning, and meaningful disclosure.
To summarise:
2022 Regulation – allowed operators to select or estimate asset life but did not require proof or demonstration of remaining life.
2025 Regulation – explicitly requires operators to determine and demonstrate the remaining effective life, not just set a static expected life.
This change strengthens the link between asset condition, budgeting, and reporting obligations, core areas where precision and clarity are critical.
Emerging challenges from early implementations
The refinement of AMP requirements has highlighted whether existing systems and data quality are truly meeting the new compliance expectations:
Poor asset data quality
The quality of some asset registers can be traced back to condition assessment methodologies and frameworks that weren't sufficiently robust. This has led to inconsistent data and asset information that doesn’t support accurate planning or compliance.
Limited reporting functionality
Some systems used to generate AMPs have not kept pace with changing requirements. A tool that doesn't accurately generate the required asset management plan reports undermines both compliance and confidence.
Insufficient asset lifecycle forecasting
The new requirement to demonstrate remaining effective life calls for more than static reports – it requires a smart asset lifecycle forecasting platform that understands asset depreciation and deterioration over time.
Planning for scalability and transparency
With new compliance expectations now in force, operators must ensure their AMP processes are both scalable and repeatable. This is not just a reporting task but a continuous operational requirement. The quality of asset data – and the ability to update and present it clearly – directly influences resident trust and regulatory confidence.
AssetFuture has worked with providers managing more than 50% of the retirement living units in NSW. Our approach is purpose-built to support:
Accurate condition-based asset registers
Intelligent lifecycle forecasting
Clear and compliant AMP reporting aligned to NSW legislation
We have seen firsthand that robust, well-structured AMPs do more than satisfy regulation – they support better planning, reduce future risk, and create transparency.
A trusted path forward
The Retirement Villages Regulation 2025 has lifted the standard for AMP compliance, but it has also clarified what good practice looks like. If your current solution doesn’t allow you to demonstrate remaining effective life with confidence, now is the time to reassess.
Our team is ready to support you with systems and expertise that meet today’s requirements and tomorrow’s expectations. If you’re reviewing your AMP process, we’re here to help. Contact us today.