Lease-Based Provider Downgraded To Lowest Governance Rating By Regulator

 A second lease-based provider has been given the lowest possible governance rating – G4 – by the Regulator of Social Housing. The regulator downgraded Prospect Housing in a regulatory judgement after finding “issues of serious regulatory concern”.  These included: a failure to understand its assets, contractual arrangements and the needs of tenants; and significant weaknesses in its control framework around rent-setting and collection. The regulator also found that Prospect had carried out reviews into “two serious safeguarding incidents” that revealed weaknesses in procedures that it could not remedy through its third-party service providers. Read more on the Social Housing website.

https://www.socialhousing.co.uk/news/lease-based-provider-downgraded-to-lowest-governance-rating-by-regulator-68212?utm_source=Housing60&utm_medium=email&utm_content=article_link&utm_campaign=H60

Supported Housing Provider Facing Regulator Probe

A supported housing provider, whose chief executive left the organisation last month, is facing scrutiny by the regulator over an undisclosed issue which could affect its compliance rating. Prospect Housing Limited, which manages 1,860 supported housing units across the West Midlands, was added to the Regulator of Social Housing’s (RSH) ‘gradings under review’ list last week. The regulator said it is “investigating a matter which may may impact Prospect Housing Limited’s compliance with both the governance and financial viability elements” of its standards. Read more on Inside Housing.

https://www.insidehousing.co.uk/news/supported-housing-provider-facing-regulator-probe-amid-chief-executives-exit-64297?utm_source=Housing60&utm_medium=email&utm_content=article_link&utm_campaign=H60