Regulator publishes updated engagement plans
This year the Regulator will engage 51 RSLs, fewer landlords than last year, 47 of which will be medium engagement.
Ferguslie Park, Muirhouse and Wellhouse will have high engagement with the Regulator in light of governance and financial management issues.
The Regulator will also have a high level of engagement with Wheatley Group as it considers the group to be of “systemic importance” given its size, turnover and debt.
Wheatley Group plans further significant growth and diversification over the next five years, the impact of which on group governance and the arrangements it is putting in place to fund its strategies will be monitored.
The Regulator will also engage with 19 local authority landlords, with a higher level of scrutiny in five.
Helen Shaw, assistant director (finance and risk), said: “Our engagement with landlords is at the heart of our role to gain assurance that they achieve financial health, are well governed and deliver good outcomes for tenants and service users. Over the last year, we have gained assurance from a number of landlords that they understand the risks they face and are managing these risks. So this year we plan to engage with a smaller number of landlords.
“We also know that landlords continue to face a number of challenges and risks, especially in relation to rents, development and budgetary pressures. We will continue to monitor and assess these risks.”
The regulatory risk assessment includes a review of financial health and governance for RSLs and service performance for both RSLs and local authorities. This takes account of landlords’ performance against the Scottish Social Housing Charter.
Read the 2016 regulation plans for RSLs: