In this 7-minute video, Jess Johnson from MDFM answers questions about the new requirement for retirement village operators to prepare and maintain an Asset Management Plan for each of their villages.

Video Summary

1. What are the changes to the Retirement Village regulations that have commenced in 2021 in regard to asset management plans? What do village operators need to know?

2. What exactly is required of providers when implementing an Asset Management Plan?

3. What assets are typically going to be included in the asset management plan?

4. Is it just a matter of recording the asset name and a description?

5. Once you have the asset management plan in place, does it then need to be kept updated?

6. Is the asset management plan set up in an excel spreadsheet?

7. What do you think are some of the challenges that operators will face in implementing an Asset Management Plan?

8. What service does MDFM provide and how can you assist operators to ensure their service environment is operating at its peak? And how can they contact you?