The Retirement Villages Regulation 2025 (2025 Regulation) (commencing 1 September 2025) replaces the Retirement Villages Regulation 2017.
While the regulatory framework is largely retained, the 2025 Regulation introduces several notable changes:
- A new form of the prescribed General Inquiry template and Disclosure Statement.
- Operators are required to keep additional documents to be made available to residents and prospective residents. This includes:
- a list of available premises with details of their prices, sizes and number of bedrooms; and
- a copy of reasons for decisions and orders made by a court or tribunal if the operator or the residents committee was a party to proceedings in the previous 5 years.
- The “average resident comparison figure” is now defined by way of a formula.
- “Relevant village information” might be shared by the Commissioner for Fair Trading with the Office of the Ageing and Disability Commissioner.
- Changes to the contents of Asset Management Plans.
- An update to the prescribed rules of conduct for operators, with expanded objects, and minor changes to a number of rules, including:
- duties regarding elder abuse prevention;
- the contents of marketing materials that contain 100 words or more;
- how conflicts of interest are to be managed;
- the disputes resolution processes.
While many of the changes are not significant, they could have impacts on the operations of a retirement village, including the training of staff and communication with current and prospective residents.
If they have not already done so, operators should review and update their compliance frameworks, documentation, and internal processes to ensure readiness for the new requirements as soon as possible.