The refreshed business planning advisory guidance retains the key principles of the previous guidance but reflects the significant challenges in the current operating environment for social landlords.

John Jellema, assistant director of regulation, said: “Business plans are critically important to help landlords manage the challenges they face. Our updated guidance aims to support social landlords in their approach to business planning.

“It is intended to guide registered social landlord (RSL) governing bodies and management teams, but the principles may also be useful for local authorities.

“There’s no single best way to go about developing a business plan, but most processes have common features. It is for each landlord to determine the most appropriate process and planning cycle. Each landlord should involve its governing body, staff, and other key stakeholders in the development of the business plan.

“I hope that social landlords find our updated advisory guidance helpful as they carry out their work to review and adapt their business plans.”