We are pleased to share that the Regulator of Social Housing has reconfirmed Local Space’s V1 viability grade and G1 governance grade in its latest regulatory judgement.
The Regulator of Social Housing sets standards and outcomes that landlords, including social landlords like Local Space, must deliver. This drives improvement in how we operate and holds us to account which leads to better services for our customers, excellent quality homes and a robust housing sector.
Josie Parsons, Local Space’s Chief Executive, said: “With this judgement, we can continue our vital work in helping homeless people to build a firm foundation in East London and Essex. We will work with our partner organisations to deliver decent and affordable homes, putting people first and providing the best possible experience for our residents.”
Our viability and governance ratings were assessed by reviewing data we submitted to the regulator. Following the stability check, we were awarded with:
- Governance grade: G1
- Viability grade: V1
This means that we meet governance requirements, viability requirements and have the financial capacity to deal with a wide range of adverse scenarios, as set out in the Governance and Financial Viability Standard, which looks at how well an organisation is run and if it is financially viable in the long term.
Find out more about the Regulator of Social Housing’s approach to regulating landlords.