Now averaging around 90 registration applications a year, the Regulator of Social Housing (RSH) has published a go-to web guide on the process for providers and their advisors.
With RSH recognising a high proportion of applications are either withdrawn or not pursued by applicants, the guide aims to help individual organisations make informed decisions about whether registration is right decision for them.
“Becoming a registered provider has many benefits, including, for example, reassuring investors and a wide range of other stakeholders,” said RSH chief executive Fiona MacGregor.
“However, it also means a significant undertaking for organisations; not only in the way they operate and are governed, but also in ensuring they can continue to meet the regulatory standards and requirements that come with being within a regulated sector.”
MacGregor added: “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,” she said.
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 they can fully comply with current regulatory standards, and satisfying RSH they have the capacity to sustain that into the future.
The guide – to be published on the RSH website – 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.