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Social housing regulatory framework draws praise
Wed 17 Mar 2010
The Tenant Service Authority's (TSA) new regulatory framework for the social housing sector has been commended by various bodies.
Under the new rules, social housing providers must meet minimum standards relating to areas such as value for money, tenant involvement and empowerment and neighbourhood management.
According to the Council of Mortgage Lenders (CML), this is a positive development that should provide a solid foundation for future private investment in the social housing sector.
The CML said having strong and independent regulation in place is "crucial" to maintaining confidence among lenders during a period of cuts of public spending.
Meanwhile, the National Housing Federation (NHF) has said it fully supports the approach the TSA has taken with its new regulatory framework.
The organisation described the regime as a "massive step forward" from previous attempts to regulate the sector, as it focuses on outcomes instead of processes.
However, the NHF stated that the challenge now is to make sure it is implemented in a way that "ensures that it delivers on its promise".