Local Authority housing companies have been around for sometime now but it seems that securing Registered Provider status may be the nextstage for many local authorities’ subsidiary companies.
It’s been recently reported that Lambeth’s wholly owned housing company’s subsidiary company ”Homes for Lambeth” has secured registeredprovider status, following the recent decision of Barking and Dagenham to applyfor registered provider status for its housing company earlier this year.
There are a number of potential benefits for registering a subsidiary company (or local authority group company member) with the Regulator of Social Housing as a Registered Provider, the most obvious of these benefits being that a Registered Provider has more opportunities to receive grant funding.
Of course, any benefits of registering as an Registered Provider need to be weighed against the increased regulation that comes hand in hand with registering with the Regulator of Social Housing. Registered Providers that are not local authorities are subject to both the Economic and the Consumer Regulatory Standards.
Obtaining Registered Provider status requires applicants to complete a two stage process – the preliminary application stage and the detailed application stage – and this process should be factored into any forward planning for local authorities wishing to consider registration with the Regulator of Social Housing. Local Authorities should note that registration is voluntary except for where an organisation receives financial assistance from either Homes England or the Greater London Authority for the provision of low cost rental accommodation and that organisation intends to bethe landlord of those properties.