Victorian Reforms: What operators need to know before 1 May 2026
On 14 April 2026, the Victorian Government finalised the Retirement Villages Regulations 2026 and the Retirement Villages (Contractual Arrangements) Amendment Regulations 2026. This marks the completion of Stage 1 of the regulatory framework supporting the Retirement Villages Amendment Act 2025, building on the reforms previously outlined.
The Regulations are largely consistent with the draft versions released in March.
What has now been locked in
New regulations commencing 1 May 2026
The new Regulations take effect from 1 May 2026.
Critically, Schedule 2 introduces the final prescribed Standard Form Residence and Management Contract (Form 4). Operators can now rely on this form in preparing for commencement.
A transition period applies. Existing prescribed contracts under the 2017 Regulations may continue to be used until 31 August 2026, provided they:
• include all newly required provisions; and
• exclude any prohibited terms under the amended legislation.
Also finalised is the Condition Report (Form 2). This must be provided to all non-owner residents before occupancy and attached to the residence contract.
Aged care payments: a key reset
The most notable policy shift is a return to the existing aged care funding position.
Eligibility for Refundable Accommodation Deposit (RAD) funding is now limited to non-owner residents who entered contracts between 1 August 2006 and 29 July 2017.
While the framework is familiar, the timing has tightened:
- Before entering aged care: payment at least 28 days prior (or as soon as practicable)
- After entry: within 28 days of request, or by the resident’s specified date
All non-owner residents retain access to Daily Accommodation Payments (DAPs).
RAD and DAP funding remains capped at 85% of the estimated exit entitlement.
New prohibited contract term
Contracts can no longer require residents to pay an operator’s costs for preparing, executing, or enforcing agreements, except in the case of a lease or contract of sale.
Compliance: what still needs attention
Consumer Affairs Victoria has released the Final Information Statement, but several key forms are still pending, including:
- the annual contract check form; and
- aged care and alternative accommodation request forms.
Operators should continue to monitor updates closely.
From 1 May 2026, there is also a strengthened reporting obligation:
- annual information must be provided to CAV;
- updates must be lodged within 14 days of any change; and
- all operators must re-notify, regardless of prior submissions.
What comes next
Stage 2 Regulations are expected later in 2026, introducing:
- a new Code of Practice; and
- further detail on operator payments and exemptions.
For more information attend our upcoming Lunch & Learn
For Village Professionals in the Victoria, mark the 6 May in your diary.
We will be joined by representatives from the Department of Local Government, Industry Regulation and Safety as we talk all things retirement village reforms.
What comes next
With commencement of the changes fast approaching, operators should ensure their contract documentation, disclosure material and processes are aligned with the RV Amendment Act and final Regulations.
If you would like assistance navigating the new regulatory framework or understanding how the changes apply to your village, please contact Donna Rayner, Kathryn Elleman and Jessica Kinnear from Russel Kennedy’s Retirement Living team.
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