Regulator publishes report on notifiable events reported during 2023/24
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The Scottish Housing Regulator published its first annual report on the notifiable events (NEs) which registered social landlords (RSLs) reported in 2023/24.
Notifiable events are things RSLs need to report to the Regulator as they could put tenants’ interests at risk or affect the reputation of the RSL itself or the housing sector as a whole.
The report sets out what notifiable events are, why RSLs need to report them and what the Regulator does when a notifiable event is reported.
A breakdown of NEs by the categories chosen by RSLs (Source: SHR)
The report highlights the key issues that landlords notified the regulator about during 2023/24 including governance and organisational issues, financial and funding issues and disposals of land and assets.
It also includes some case studies which are examples of the NEs the regulator received, what the regulator asked landlords to do and what the regulator did as a result.
The types of issues notified to the Regulator include:
governance and organisational issues
- staff/organisational structures, such as senior staff changes, employment tribunals and settlement agreements accounted for just over half of the issues notified to us under this category. This followed a similar pattern in 2022/23.
- governing body issues such as the resignation of a governing body member for non-personal reasons.
- a small number of breaches of charitable/legal/regulatory obligations and material changes to the RSL’s Annual Assurance Statement.
financial and funding issues
- changes of auditors and notifications of potential breaches of covenants were the most common events notified to us
- fraud or the investigation of fraud, financial loss or cashflow issues and pension matters.
disposal of land and assets
- disposals over £120,000 continue to top the events reported to us under this category
- mid-market rent notifications.
Nicola Harcus, assistant director of regulation, said: “We’ve developed this report in response to feedback from social landlords when we reviewed our Regulatory Framework last year. Landlords asked for more information about what notifiable events are, the types of events social landlords reported to us last year and how we dealt with them. We hope that the information and case studies in this report help landlords to know when they should contact us.”
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