The financial performance of most registered social landlords (RSLs) remain strong, but major challenges lie ahead to ensure that RSLs are able to fund their future business plans. This was the message from the Scottish Housing Regulator to finance professionals at the SFHA Annual Finance Conference.
Ian Brennan, Director of Regulation, said: “RSL financial performance remains strong. But the sector is facing major challenges, in particular the need to raise substantial amounts of private finance to fund future business plans.
“We are looking to the new regulatory framework to make sure that we continue to safeguard the interests of tenants and service users.
“Our statutory intervention cases have shown what can go wrong and the importance of RSLs ensuring sustainable governance that is compliant with regulatory standards. We also know that where we have intervened, investors have recognised the importance of RSLs having a positive and constructive relationship with us.”
- The Scottish Housing Regulator was established on 1 April 2011 under the Housing (Scotland) Act 2010. Its objective is to safeguard and promote the interests of tenants and others who use local authority and RSL housing services. The Regulator operates independently of Scottish Ministers and is accountable directly to the Scottish Parliament. It assumed its full regulatory responsibilities on 1 April 2012. The Regulator consists of the Chair and seven Board members. More information about the Regulator can be found on its website at www.scottishhousingregulator.gov.uk
- SHR regulates around 160 registered social landlords and the housing activities of 32 local authorities.
- SHR sets out how it regulates social landlords in its published framework – Regulation of Social Housing in Scotland.
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