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