In the latest Property Reporter the Winckworth Sherwood social housing team explain what issues social housing providers will need to address in 2023.
Among the issues identified were;
Tenant satisfaction in the spotlight
New Tenant Satisfaction Measures take effect from April 2023. RPs that do not already have the processes in place to collect and record data on these must act now, says Senior Associate and social housing governance specialist Matt Cowen.
“Social housing providers will from April 2023 be required to measure 22 key tenant satisfaction metrics. This information, relating to areas such as repairs and safety checks, must then be published and submitted to the Regulator for assessment.”
“Most RPs should by now have the processes in place to capture the data required by the Tenant Satisfaction Measures. If they do not, they should act as a matter of considerable urgency.”
“RPs can also expect to see the enhanced proactive consumer regulation regime take shape as the Social Housing (Regulation) Bill works its way through parliament, although we don’t expect it to formally make the statute books before 2024.”
Increase in provider mergers
It is expected that the tough economic climate together with the increased regulatory burden on RPs will lead to an increase in merger activity in 2023, says Senior Associate and social housing governance specialist Matt Cowen.
“RPs are feeling the pain of a challenging few years, compounded now by a cost-of-living and economic crisis. Development costs have increased dramatically at a time when RPs are also being expected to invest in their stock to meet decarbonisation and building/fire safety requirements as well as expend resources to ensure the new proactive consumer regulatory standards are met.
“This is driving RPs to consider whether these challenges are best met in partnership with other like-minded organisations. Merger activity is expected to grow throughout 2023 and beyond.”
Read the full list of challenges on Property Reporter.