Changes to Regulation: protecting tenants and investment in housing associations in Wales
Housing Association regulation in Wales is changing following a recent review of the ‘Regulatory Framework’. From January 2022 changes include the introduction of a new set of ‘Regulatory Standards’ which HA’s will need to meet.
These new ‘Regulatory Standards’ also include clear standards around Tenant Engagement and what is expected of Housing Associations in terms of hearing the tenants voice.
The purpose of regulation of housing associations is to protect tenants and investment in housing associations. It is undertaken by the Welsh Government, and largely takes the form of oversight and monitoring with intervention only where necessary.
While recognising the autonomy and independence of housing association boards, effective regulation ensures each housing association is:
Delivering high quality homes and services - providing homes and services that meet people’s diverse needs and expectations, with an emphasis on high quality services and continuous improvement.
Well-governed – led effectively and well managed by boards, executives and staff, and working with tenants and partners to make and implement effective business decisions
Financially viable – with well-managed finances, and the resources and cash flow to meet current and future business commitments. The Regulatory Standards set out in more detail the outcomes expected.
How housing associations are regulated is set out in the revised Regulation Framework (2021) which came into effect January 2022. The framework also details the range of ‘Regulatory Standards’ which housing associations need to demonstrate they are meeting. These standards can be found in Appendix 3 of the Framework document
This Regulatory Framework applies to housing associations registered and regulated by the Welsh Ministers under Part 1 of the Housing Act 1996.
A list of organisations registered with Welsh Government to provide social housing can be found here