The Regulator of Social Housing (RSH) sets standards for social housing providers in England.
Its Governance and Financial Viability Standard looks at how well organisations are run and if they are financially viable.
Following a review by the regulator, we were given a grading of G3 / V2 (January 2024).
This grading showed that whilst we met the regulator’s financial viability requirements (V2), we needed to make significant improvements to our governance arrangements (G3) to fully comply with its Governance & Financial Viability Standard. This is for areas relating to business planning, risks and controls, and data.
Prior to the review, our grading had been G1/V2. We will continue to deliver our day-to-day operations with partners and suppliers as normal. We also remain financially strong, with an A credit rating from Fitch, £3.6 billion of assets, and over £300 million of undrawn available facilities.
What are we doing to improve?
We have been working closely with the regulator to develop an Improvement Plan to address the governance issues identified in our regulatory judgement.
The plan sets out 9 key areas of focus:
- High quality data
- More effective financial governance
- Stronger risk management
- Confident business planning
- Stronger board effectiveness
- Improved repairs and complaints services
- Effective management of complex buildings
- Accurate rent and service charge setting
- Improved commercial processes.
Our Improvement Plan builds upon important service changes that we’d already recognised were needed as early as 2023, having listened to the feedback of our customers and other key stakeholders. As a result, we have been accelerating the implementation of a wide range of service improvements. Customers have been involved in shaping these changes and will continue to be.
How are we doing?
We are making good progress with our efforts focused on improving services for customers and returning to a fully compliant regulatory grading as soon as possible.
Some key changes and improvements we’ve made to date include:
- Better diagnosis of repairs as they come in, faster turnaround times and greater focus on maintenance to reduce the number of repairs requests over time
- Introduction of a live-tracking system for repairs which provides updates and sends customers text updates before their repairs appointment
- A reduction in the amount of time lifts are out of service
- Launched a new dedicated Anti-social Behaviour Team along with new technology and training to make it easier to report ASB online
- Completed fire safety inspections in 100% of buildings over 18 metres
- Set up an Enhanced Housing Management Team to focus on ensuring the safety of high and mid-rise buildings
- Expanded our team of surveyors and contractors specifically to address damp and mould issues, and accelerate our programme of works
- Appointed our first customer to A2Dominion’s Board, Coretta Scott. Coretta has lived in an A2Dominion home for more than 13 years and served on our Customer Services Committee
How long will the improvements take to deliver?
Our Improvement Plan is being delivered over a 2-year period (2024-2026), and we have set a target date of 2026 for returning to a fully compliant regulatory grading.
More information
You can find out more about the improvement projects we’re undertaking by taking a look at our Annual Reports.
We also continue to share updates on our progress through our Business-to-Business newsletter and on our website news section.
