Magenta Living is a not-for-profit housing provider, owning and managing just under 13,000 properties. Based in Wirral, Magenta Living are the largest social housing provider also operating in the North West of England. Magenta Living have retained the Customer Service Excellence certificate and around 500 staff deliver excellent services to their customers. Magenta Living have achieved the Investors in People Gold standard, demonstrating their commitment, as a significant local employer, to quality staff delivering quality services. Magenta Living have invested almost £200million in their properties over recent years and have ambitious plans to build over 500 properties for rent and sale.
RSH Narrative Regulatory Judgement
Provider: Magenta Living
Regulatory code: L4435
Publication date: 31 August 2022
Governance grade: G1
Viability grade: V1
Reason for publication: Governance upgrade
Regulatory route: In Depth Assessment and Reactive Engagement
This regulatory judgement upgrades the regulator’s previous published assessment of Magenta Living’s governance from G2 to G1 and confirms its existing viability grade of V1.
Our previous narrative regulatory judgement for Magenta Living (Magenta), published in August 2018, identified weaknesses in its reporting on loan covenant compliance and on the performance of subsidiaries. The judgement also highlighted that Magenta needed to strengthen its stress testing, including developing triggers and mitigation strategies. In April 2019 a Regulatory Notice was published for a breach of the Home Standard following reactive engagement on landlord health and safety compliance.
Based on the assurance gained through reactive engagement and an In Depth Assessment (IDA), the regulator now has assurance that Magenta has addressed these issues.
There have been significant changes to Magenta’s board and executive leadership over the last year. Board skills now align more closely with the activities that Magenta undertakes and this has facilitated improved scrutiny and challenge of performance. Board oversight of landlord compliance has been strengthened and Magenta has improved the quality of reporting, stress testing and mitigation planning.
The regulator’s assessment of Magenta’s compliance with the financial viability elements of the Governance and Financial Viability Standard is unchanged. Based on evidence gained from the IDA, the regulator has assurance that Magenta’s financial plans are consistent with, and support, its financial strategy. The provider has an adequately funded business plan, sufficient security in place, and is forecast to continue to meet its financial covenants under a wide range of adverse scenarios.
Housing Ombudsman
The resident complains about how the landlord handled his reports of repairs needed to: The boiler. The front door.
The complaint is about the landlord’s decision to allow contractors to carry out works at an empty property in the block and letting of a property during the Covid-19 pandemic. The complaint is also about the landlord’s complaints handling.
REPORT COMPLAINT 202000689 Magenta Living 3 February 2021 Our approach The Housing Ombudsman’s approach to investigating and determining complaints is to decide what is fair in all the circumstances of the case. This is set […]
The complaint is about the landlord’s handling of anti-social behaviour (ASB) allegations made about the resident resulting in a Notice of Seeking possession.
The complaint concerns how the landlord handled the resident’s reports of a leak into his property.
The complaint is about: the condition of the property at the commencement of the resident’s tenancy. the landlord’s complaint handling.
The complaint is about the landlord’s response to the resident’s complaint about the use of cleaning solvents in communal areas.
The resident has complained that the landlord has not refunded the cost of a repair to their boiler.