HCA warns of potential downgrades as landlords contacted over VfM performance
Published by Max Salsbury for 24dash.com in Housing and also in Central Government, Regulation
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The Homes and Communities Agency has written to a number of housing associations over concerns about their value for money performance.
The letter warns that the associations in question could potentially face being downgraded by the regulator if the VfM concerns are not adequately addressed.
It is believed that over 20 housing providers have been written to.
The HCA has stressed that none of the social landlords contacted are definitely facing a downgrade.
A HCA spokesperson said: "The regulator has written to a number of providers which it feels could be performing better on VfM to seek assurance that the matter will be addressed."
Alistair McIntosh, chief executive of the Housing Quality Network, said: "We’ve known for ages now that the government wanted action on VFM. The HCA really had to step up and act. The truth is that most associations are doing things to save money. They just need to get a lot better at proving it. The VfM standard is pretty straightforward to comply with. Let’s hope the HCA can give these associations another go at it."