Regulator highlights positive practice for landlords developing new homes
Scottish Housing Regulator releases new thematic inquiry report
The Scottish Housing Regulator has today (Wednesday 22 March) published a new thematic inquiry report sharing positive practice for social landlords developing affordable homes.
The regulator’s report sets out 10 principles to help social landlords considering developing new homes. Applying these principles will help landlords manage and mitigate risk, achieve value for money for tenants and meet regulatory standards.
The 10 principles cover the importance of a landlord being clear about why it is developing new homes in the first place and how this fits within its overall business strategy. The principles also cover risk, capacity, procurement and funding as well as governance.
Ian Brennan, Director of Regulation, Finance and Risk, said:
“The Scottish Government has committed to deliver 50,000 affordable homes over the life of the current parliament. Good governance and awareness of risk and its potential impact on the business are essential for landlords that are developing new affordable homes.
“Our report highlights positive practice from social landlords who have recently been successfully developing new homes. We believe that applying the 10 principles will help landlords develop sustainable homes and deliver on the Scottish Government’s targets.”
The regulator’s report has been welcomed by stakeholders.
Mary Taylor, SFHA Chief Executive, said:
“The report provides a useful guide to the issues that housing associations need to take into account when either considering developing again or looking to expand their development programmes.”
John Marr, Scotland Senior Policy Advisor at the Council of Mortgage Lenders, added:
“This comprehensive guidance is a welcome addition to the tools and resources available to help boards strengthen their response to development risks, as they prepare to step up to the mark in delivering the government’s 50,000 homes target.”
Link Group took part in the thematic inquiry. Colin Culross, Director of Development and Asset Management (Link Group) said:
“There’s one thing certain about development and that’s its uncertainty. This is a very well-constructed and informative document which outlines the guiding principles for RSLs, whether they be experienced in developing new homes or re-entering the affordable housing supply marketplace.”
The regulator’s report is available on its website at www.scottishhousingregulator.gov.uk