The Regulator also published updated engagement plans for each registered social landlord (RSL) and local authority, and an update to the regulatory status for RSLs.

In its published report, the Regulator sets out the main areas it focussed on in its risk assessment this year. This includes homelessness, tenant and resident safety, governance and financial wellbeing.

It highlights some of the risks and challenges facing tenants and other service users including rent affordability and the availability of appropriate temporary accommodation for people who are experiencing homelessness. The report also outlines the range of challenges social landlords face including rising costs and inflation, and ensuring compliance with obligations to ensure warm, safe and dry homes.

The report also shows that 131 RSLs are compliant with Regulatory Requirements and Standards (with an additional three RSLs under review) and five RSLs are working towards compliance. The Regulator is not currently using its statutory powers in any RSL. The Regulator will engage with all local authorities in 2023 about their services to people who are experiencing homelessness, with a particular focus on temporary accommodation.

John Jellema, assistant director of regulation, said: “We are continuing to experience challenging economic times including a cost of living crisis which is leading to significant hardship for many people, including some of the most vulnerable in our society. Many landlords are experiencing significant inflationary pressures for example in relation to construction and maintenance costs. They will also face a range of major new demands on them in the coming years such as net zero carbon commitments in addition to building new homes to meet the demand for social housing.

“This year, in our engagement with social landlords we will continue to focus on how landlords are managing these challenges. So, it remains important that social landlords have an up-to-date and robust business plan, are alive to all of the risks they may face and have adequate risk management and mitigation measures in place. This will help to ensure that the interests of tenants and other service users are protected.”