Section: Registered Social Landlords

Corporation Reviews Information Needs

The Housing Corporation announced it has significantly reduced the amount of information small associations have to submit as part of the annual Regulatory Statistical Return (RSR). Small Associations are defined as those owning and/or managing less than 250 homes.

The announcement reduces by two-thirds the amount of information required from small associations. Additionally, the FV3 Quarterly Financial Return has been discontinued, with both decisions responding swiftly to recent research into the costs and benefits of the Corporation's regulation.

The research, by Frontier Economics, concluded that the net benefit of the Corporation's regulation was £175 million over a 5-year period.

The Corporation outlined the changes, which will take effect in time for the submission of the 2006 RSR, in a letter sent to all associations. In addition, the letter also gave notice that given the greatly simplified form and increased use of and access to the Internet, it would expect all RSR returns to be made online, cutting out data handling costs.

The Housing Corporation recently started a review of burdens on associations, covering information required by the Corporation to inform its regulation and investment decisions, as well as information required by other regulators and inspectors. Completion of the review is expected by early 2006.

In addition, the Housing Corporation is also testing a new national database - the National Register of Social Housing (NROSH) - containing records of each individual unit of social housing, which it is hoped will replace the most labour intensive parts of the RSR and CORE (COntinuous REcord of lettings and sales).

RSL Update

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Reporting on Oct./Nov. 2005

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