East End Homes has been been forced to bring in external consultants to sort our serious issues in its governance.
The social housing provider, which owns and manages around 3,800 homes in the London Borough of Tower Hamlets, has been downgraded by the Regulator of Social Housing in a judgment published today (25 May).
East End Homes reported a turnover of £21m for the year ended 31 March 2022. It employs more than 100 full-time equivalent staff.
An in-depth assessment and investigation into the provider found that it was “non-compliant with the governance element of the economic standards and downgraded it to G3 status”.
This means that there are “issues of serious regulatory concern” that the provider must work with the regulator to address.
G3 is the lowest grade a provider can reach before it becomes subject to regulatory intervention or enforcement action.
The regulator concluded that East End Homes “does not have adequate governance, risk management or control frameworks in place. In addition, the regulator does not have assurance that the provider’s board has managed the organisation with appropriate skill, independence or foresight.”
It added that East End Homes had “failed to demonstrate that it is appropriately identifying and managing its risks. Issues with the provider’s data have resulted in a weak understanding of its tenants’ homes, and it is unable to assure the regulator that they meet the Decent Homes Standard”.
East End Homes has commissioned external consultants to develop an improvement plan and an asset management strategy. It is also carrying out condition surveys of its homes and reviewing its development strategy and pipeline of schemes for the future.
To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews
