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ASSETjourney AMP: Built By and For Retirement Village Operators

ASSETjourney AMP: Built By and For Retirement Village Operators

Prepared for a live webinar and now an on-demand resource, learn about ASSETjourney, an asset management solution tailor-made to help retirement village operators meet the requirements of NSW's Retirement Villages Act.

1) What does the NSW legislation require?
2) How to prepare an Asset Management Plan.
3) The benefits of an Asset Management Plan.
4) Demo of the comprehensive tools of ASSETjourney AMP.

Prepared for a live webinar and now an on-demand resource, learn about ASSETjourney, an asset management solution tailor-made to help retirement village operators meet the requirements of NSW's Retirement Villages Act.

1) What does the NSW legislation require?
2) How to prepare an Asset Management Plan.
3) The benefits of an Asset Management Plan.
4) Demo of the comprehensive tools of ASSETjourney AMP.

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ASSETjourney AMP: Built By and For Retirement Village Operators

  1. 1. Scott Restivo President & CEO Crow Canyon Software Aidan O’Flaherty CFO Tulich Communities Contact: sales@assetjourney.com
  2. 2. Helping businesses succeed with Office 365, Teams & SharePoint! Business Applications Innovative out-of-the-box solutions NITRO Studio Forms & Workflows No-code application creation platform Chatbots & Apps for MS Teams Advanced features that power productivity
  3. 3. https://www.fairtrading.nsw.gov.au/housing-and- property/retirement-villages/asset-management-plans Asset Management Plan (AMP) Required by the Retirement Villages Act 1999 and the Retirement Villages Regulation 2017 • Legislative mandate to have an AMP in place by 1 July, 2022. • Currently applies to Retirement Village Operators in New South Wales. • Likely to apply to other states soon.
  4. 4. Asset Management Plan (AMP) • Asset Register • Maintenance Schedule (actual) • Maintenance Schedule (estimated) • Three-year Report for capital maintenance & expenditures Reports must be available to residents.
  5. 5. Asset Management Plan (AMP) Asset Register • Regulations require any “major item of capital” to be in the Asset Register. • A major item of capital is any asset that costs $1,000 or more. • Register must include “effective life” of the asset. • Assets that are shared must have percentages attributed correctly. Operators cannot charge residents for maintenance or repairs of a major item of capital if the item is not listed in the Asset Register.
  6. 6. Asset Management Plan (AMP) Maintenance Schedules • Sets details for maintaining and replacing the major items of capital. • Information about planned maintenance, repairs, and replacement activities (including estimated and actual costs). • Prepared from the Asset Register.
  7. 7. Asset Management Plan (AMP) Three-year Report for Capital Maintenance • For each asset, an estimate of: • the costs, dates and type of proposed maintenance • the costs and type of any proposed repairs. • Assets within one year of effective life • Assets with accumulated costs > 90% of purchase price
  8. 8. Asset Management Plan (AMP) Independent Assessment of the AMP • Must be prepared by an independent quantity surveyor or the auditor of the village. • Must confirm that the plan meets the requirements of the Regulation. • Residents have 60 days to review and comment.
  9. 9. Asset Management Plan (AMP) AMP must be kept up to date • When purchasing major items of capital • After maintenance or repair of asset • If 3-year report is amended • If total estimated maintenance costs are likely to increase by 25% or more
  10. 10. https://www.mdfm.com.au/5-step-process-to-prepare-an-asset-management-plan/ 5 Step Guide to Preparing an AMP 1. Determine what system you will use. 2. Capture the asset data. 3. Import the asset data. 4. Prepare a maintenance schedule for each capital item. 5. Adequately resource the ongoing management of the system.
  11. 11. ASSETjourney AMP Meets all the legislative requirements, plus.. • Can include all assets, not just ones > $1000 • Includes Maintenance Tasks • Import Template for initial population of assets • Is highly customizable • Can integrate with third-party systems • Mobile-friendly • Runs on Microsoft Office 365
  12. 12. ASSETjourney AMP Work Order option available for more comprehensive management. • Tracks time, parts, and costs • Assignment to outside suppliers • Recurring maintenance tasks • MS Teams integration • Mobile access • Can link to ERP and Invoicing systems
  13. 13. Thank you for joining our webinar! Get In Touch & Learn More Call Aidan: 0419 435 311 Email: sales@assetjourney.com Request a Demo: https://www.assetjourney.com/contact/

Editor's Notes

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  • .
  • Customizable and Flexible: Retirement villages in Australia are using our Asset Management program to comply with new legislative mandates. The application’s high degree of flexibility and customization allowed it to be easily adapted with no code to manage assets and produce reports as required by law.

    Regulation Overview: https://www.fairtrading.nsw.gov.au/housing-and-property/retirement-villages/asset-management-plans


    Guidelines: https://www.fairtrading.nsw.gov.au/__data/assets/pdf_file/0005/964265/Secretary-Guideline-for-Retirement-Village-Asset-Management-Plan.pdf.pdf

  • Customizable and Flexible: Retirement villages in Australia are using our Asset Management program to comply with new legislative mandates. The application’s high degree of flexibility and customization allowed it to be easily adapted with no code to manage assets and produce reports as required by law.
  • Customizable and Flexible: Retirement villages in Australia are using our Asset Management program to comply with new legislative mandates. The application’s high degree of flexibility and customization allowed it to be easily adapted with no code to manage assets and produce reports as required by law.
  • Customizable and Flexible: Retirement villages in Australia are using our Asset Management program to comply with new legislative mandates. The application’s high degree of flexibility and customization allowed it to be easily adapted with no code to manage assets and produce reports as required by law.
  • Customizable and Flexible: Retirement villages in Australia are using our Asset Management program to comply with new legislative mandates. The application’s high degree of flexibility and customization allowed it to be easily adapted with no code to manage assets and produce reports as required by law.
  • Customizable and Flexible: Retirement villages in Australia are using our Asset Management program to comply with new legislative mandates. The application’s high degree of flexibility and customization allowed it to be easily adapted with no code to manage assets and produce reports as required by law.
  • Customizable and Flexible: Retirement villages in Australia are using our Asset Management program to comply with new legislative mandates. The application’s high degree of flexibility and customization allowed it to be easily adapted with no code to manage assets and produce reports as required by law.
  • Customizable and Flexible: Retirement villages in Australia are using our Asset Management program to comply with new legislative mandates. The application’s high degree of flexibility and customization allowed it to be easily adapted with no code to manage assets and produce reports as required by law.
  • Customizable and Flexible: Retirement villages in Australia are using our Asset Management program to comply with new legislative mandates. The application’s high degree of flexibility and customization allowed it to be easily adapted with no code to manage assets and produce reports as required by law.
  • Customizable and Flexible: Retirement villages in Australia are using our Asset Management program to comply with new legislative mandates. The application’s high degree of flexibility and customization allowed it to be easily adapted with no code to manage assets and produce reports as required by law.
  • Customizable and Flexible: Retirement villages in Australia are using our Asset Management program to comply with new legislative mandates. The application’s high degree of flexibility and customization allowed it to be easily adapted with no code to manage assets and produce reports as required by law.

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