The Regulator of Social Housing has today (24 July 2024) published the first set of regulatory judgements from its planned inspection programme.
After inspecting Watford Community Housing Trust and Nottingham Community Housing Association Limited, RSH confirmed that each landlord meets its governance and viability requirements, and has the financial capacity to deal with a wide range of adverse scenarios.
RSH also confirmed that, overall, each landlord is delivering the outcomes of the new consumer standards. They have demonstrated that they identify issues affecting tenants and put plans in place to solve them and minimise recurrence.
As a result, the regulatory gradings for each landlord are G1 for governance, V1 for viability and C1 for the consumer standards. RSH expects that, even when a landlord is assessed as C1, they will continue to review, evaluate and improve their service to tenants.
Landlords should also continue to monitor and mitigate their financial risks carefully and test the effectiveness of their governance arrangements, including through independent reviews.
RSH started the first phase of its inspection programme for all large social landlords (those with over 1,000 homes) on 1 April 2024. The inspections will take place over at least a four-year cycle and are one of the key changes to RSH's approach resulting from the landmark Social Housing Regulation Act.
Kate Dodsworth, Chief of Regulatory Engagement at RSH, said:
Our inspection programme is a really important part of our new regulatory approach. Now we can go out and proactively seek evidence that a landlord is delivering the outcomes in our consumer standards, which will help to drive long-term improvements in landlords for the benefit of tenants.
Critically we're also continuing to scrutinise the finances and governance of housing associations and other private registered providers, at a time when they are facing many competing demands on their finances. Through our integrated regulation, we're helping to promote a sector that is viable, well governed and able to deliver more and better social homes for people who need them."
RSH continues to carry out responsive engagement. This is where it considers information that is referred by tenants, landlords and other stakeholders. Since April, RSH has published four regulatory judgements, based on responsive engagement, for landlords who have failed to deliver the outcomes in the new consumer standards.
RSH expects to publish more judgements from its first wave of inspections, as well as its responsive engagement, later in the summer.
Notes
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Inspections are an integral part of RSH's regulatory approach. For housing associations and other private registered providers, RSH's inspections cover both the economic and consumer standards. The economic standards (with the exception of the rent standard) do not apply to local authorities.
