One Housing, part of the Riverside Group Limited, helps people to live better by providing high quality homes and care across London and the South East. One Housing manage approximately 17,000 homes and have plans to build 5,000 over the next ten years. They are also the largest provider of care, supporting over 9,500 people to help them live independently. One Housing work hard (according to them) to make a positive difference to our residents’ lives by promoting aspiration, independence and well-being through a broad ranging employment and training offer which is aimed at helping their residents find work, access a range of training and support services.
SH Narrative Regulatory judgement
Provider: One Housing Group Limited
Regulatory code: LH0171
Publication date: 27 January 2021
Governance grade: G2
Viability grade: V2
Reason for publication: Governance downgrade
Regulatory route: Stability Check and Reactive Engagement
This regulatory judgement downgrades our previous assessment of One Housing Group’s governance, published in February 2019, from G1 to G2.
One Housing Group (OHG) continues to meet the requirements on governance set out in the Governance and Financial Viability Standard. However, following completion of a Stability Check and reactive engagement, we have concluded that it needs to improve aspects of its governance arrangements to support continued compliance with the standard.
Although the board has taken significant steps to mitigate the risks from some longstanding, legacy business activities, its decision making has not been consistently supported by accurate data. This has impacted on the board’s ability to foresee and manage these risks in a sufficiently timely way.
OHG’s board recognises there is further work to do to manage the risks within its current operations and is developing a corporate strategy that is fully aligned to its agreed risk appetite. OHG needs to ensure that there is sufficient capacity for this work to happen at pace whilst maintaining its day-to-day operations. The board has undertaken some work to improve data quality. As this process continues the board needs to satisfy itself on the robustness and sustainability of its assurance that the controls which support financial and treasury information, planning and reporting, ensure quality and timely information on a consistent basis.
The regulator’s assessment of the group’s compliance with the financial viability element of the Governance and Financial Viability Standard is unchanged. Based on evidence gained from the Stability Check, we are satisfied that OHG has access to adequate liquidity to support its business.
However, as set out above, OHG has key risks within its current operations that require careful management. One of these is a recognised need for increased investment in its existing stock. To assist in the delivery of both its short and medium-term stock investment commitments, including fire safety works, OHG is seeking to refine the terms of funder covenants. This investment spending weakens OHG’s interest cover position. OHG has reduced its exposure to the housing market but forecast sales receipts continue to contribute significantly to liquidity. It also needs to manage the ongoing financial risks stemming from its care and support activity and from its complex funding arrangements.
This combination of risks reduces OHG’s capacity to respond to adverse events and needs managing to assure ongoing compliance.
Other providers included in the judgement
TPHA Limited SL3442
Housing Ombudsman
REPORT COMPLAINT 202003763 One Housing Group 14 January 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 complaint is about: the landlord’s handling of the resident’s request for a summary of the costs incurred in relation to the service charges for the period 2018 to 2019. the landlord’s complaint handling.
One Housing Group Limited (202007494)
The complaint is about: The level and reasonableness of the service charges paid by the resident. The landlord’s response to the resident’s queries regarding service charges. The landlord’s response to the resident’s request for information concerning cladding on the building which the property is situated in, including the production of form EWS1. The landlord’s complaint handling.
One Housing Group Limited (202000109)
The complaint is about: the increase of the service charge year-on-year; the resident’s ability to acquire an additional portioned percentage of his shared ownership property; the landlord’s response to the resident’s reports regarding the accuracy of the service charges; the landlord’s response to the resident’s request to sight the supporting evidence for the service charges; the landlord’s response to the resident’s reports it miscalculated his monthly direct debit payments; the landlord’s complaints handling.
One Housing Group Limited (202012077)
The complaint is about the landlord’s response to the resident’s reports of noise and anti-social behaviour (ASB) at the property including cigarette smoke from the property below.
One Housing Group Limited (202108365)
The resident has complained about: The landlord’s handling of repairs to her property, in particular repairs to the intercom / buzzer, a leak through the skylight window, a faulty shower, and the heating system. The landlord’s Covid-19 ‘No Visitor’ policy which prevented access to her support bubble. The conduct of the landlord’s staff.
One Housing Group Limited (202116962)
The complaint concerns the landlord’s response to: The resident’s reports of a water leak from the property above. The associated formal complaint.
One Housing Group Limited (202001943)
REPORT COMPLAINT 202001943 One Housing Group Limited 26 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 […]
One Housing Group Limited (202110942)
The complaint is about the landlord’s failure to provide accounts for the period of 2018-2019 and 2019-2020, as requested by the resident.
One Housing Group Limited (202006022)
The Complaint is about the landlord’s response to residents’ reports about: Disrepair to bedroom and conservatory windows and the subsequent mould issue. The landlord’s complaints handling.