The Regulator of Social Housing has expressed serious concerns about a small for-profit landlord which has failed to meet its governance or financial viability requirements.
RSH found serious failings in Rentplus Homes Limited’s governance arrangements, with the landlord unable to demonstrate that its board has effectively responded to increasing risks, or that it has a robust business planning and risk management framework.
Arrangements with its unregistered parent company to provide support failed to operate in practice, negatively impacting on Rentplus Homes’ ability to protect its social homes.
Rentplus Homes is now facing significant liquidity pressures and is seeking to develop and implement plans to safeguard tenants’ homes from its viability risk.
RSH Chief Executive Jonathan Walters said: “Landlords must regularly assess and test their governance arrangements to make sure they are fit for purpose.