Landlords warned by HCA over value for money performance
A combination of welfare reforms and changes to social housing subsidies have put the sector under unprecedented pressure, prompting the Homes and Communities Agency (HCA) to write to around 20 housing associations amid concerns about their value for money performance.
The letter warns that the associations in question could potentially face being downgraded by the regulator if the VfM concerns are not adequately addressed.
The HCA has pointed out that none of the social landlords contacted are definitely facing a downgrade. A HCA spokesperson said: “The regulator has written to a number of providers which it feels could be performing better on VfM to seek assurance that the matter will be addressed.”
Alistair McIntosh, chief executive of the Housing Quality Network, said: “We have known for a while now that the government wanted action on VfM. The HCA really had to step up and act. The truth is that most associations are doing things to save money. They just need to get a lot better at proving it. The VfM standard is pretty straightforward to comply with. Let’s hope the HCA can give these associations another go at it.”
By adopting a better way to operate, social landlords can offer better value for money, improve their services to their tenants and equip themselves for the challenges ahead.
At Royds, we have many years’ experience in dealing with residential and commercial property and can provide advice and guidance to landlords on the regulations within this particular industry.
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