RSH publishes regulatory notice for Highstone Housing Association Ltd

Article summary

The Regulator of Social Housing (RSH) has published a regulatory notice for Highstone Housing Association Ltd, concluding that Highstone is non-compliant with the Governance and Viability Standard and the Rent Standard. The RSH has said following an investigation, it found clear conflicts of interest with third-party property companies and that Highstone did not provide assurance that the rents it charged to tenants comply with the Rent Standard. The RSH also found inadequate reporting on financial performance and accounting, poor decision making due to a lack of appropriate skills and independence at board level and no evidence of appropriate financial plans and mitigations in place for its long lease-based model.