A guide has been published for providers of social housing considering applying to register with RSH and for organisations advising potential applicants.
RSH assesses around 90 applications every year. Although it has to refuse some of these, a high number are either withdrawn or not pursued by applicants. The guide aims to help individual organisations make informed decisions about whether seeking registration with the regulator is the right decision for them. It covers the common misconceptions about registration and the main issues that applicants encounter in seeking to demonstrate that they meet requirements. It also explains some of the checks that the Regulator carries out to verify the information.
Organisations that intend to become a registered provider need to complete two stages of the application process and provide supporting information. These include meeting certain eligibility criteria; having robust management arrangements and frameworks in place that demonstrate that they can fully comply with our current regulatory standards; and satisfying the Regulator that they have the capacity to sustain that into the future.
Fiona MacGregor, Chief Executive of RSH said:
Becoming a registered provider has many benefits, including, for example, reassuring investors and a wide range of other stakeholders. However, it also means a significant undertaking for organisations; not only in the way they operate and are governed, but also ensuring that they can continue to meet the regulatory standards and requirements that come with being within a regulated sector.
Registration is not a quick and simple process and passing the preliminary stage does not guarantee registration. Before an organisation approaches us, I urge them to take some time to familiarise themselves with the registration criteria; check how they can demonstrate full compliance with the regulatory standards; and most importantly, consider if registration is the right course of action for their business, given the long-term obligations that brings.
‘Becoming a registered provider’ is published on the RSH website.