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A new regulatory framework came into existence on 1 April 2012. This places greater emphais on co-regulation with Boards being responsible and accountable for delivering the organisation's social housing objectives. However at the same time registered providers are required to meet relevant standards. In cases where breach or potential breach of a consumer standard leads to risk of serious detriment to tenants, the regulator may intervene. However it has a much more proactive role in the economic standards for registered providers.
The standards upon which the HCA regulates are:
Governance and Financial Viability
Value for Money
Tenant Involvement and Empowerment
Neighbourhood and Community
The Homes and Communities Agency works with local authorities, housing associations and developers to provide new affordable homes which are environmentally and socially sustainable. From 1 April 2012, the HCA took over the regulation of housing providers from the TSA. Visit their website to find out more.