Association moves to ‘Low Engagement’ with Housing Regulator
The Scottish Housing Regulator (Regulator) regulates social landlords including housing associations and their primary objective is to “safeguard and promote the interests of current and future tenants of social landlords”. A key task for the Regulator each year is to assess the level of engagement (Low, Medium or High) for each landlord relating to their circumstances and activities.
The Association’s level of engagement with the Regulator has been at ‘Medium’ since 2014 due to our regeneration programme, specifically our plans to develop a new community centre and proposed new build development at Tresta Road. The ‘Medium’ level of engagement required us to demonstrate the financial viability and management and mitigation of risks in these projects through the provision of financial information and reports set out in an annual Regulation Plan. The ‘low’ engagement is for 2017-18.
The Association’s Director, Kenny Mollins stated, “Our level of engagement in recent years was expected due to our regeneration plans for Cadder. We have been able to reassure the Housing Regulator through our financial planning and robust approach to the management of risks in our business. We are pleased the Regulator feels reassured and has downgraded our engagement to the ‘Low’ category. We will similar to all housing associations continue to submit key information to the Regulator, as well as keep them updated on any material issues affecting these projects and our Association.