Standards for AHBs
Section 37 of the Housing (Regulation of Approved Housing Bodies) Act 2019 provides for the drafting of standards for registered AHBs. It requires that the Regulator submit to the Minister draft standards covering matters relating to:
- the governance of AHBs
- the financial management of and financial reporting by AHBs
- property and asset management by AHBs
- tenancy management by AHBs
The approval of the Standards marks an important milestone in the phased introduction of the powers and functions of AHBRA. The Standards for AHBs are an integral part of the overall regulatory framework and functions of the Regulator.
The Standards for AHBs were developed following engagement with the AHB sector and a wide range of key stakeholders. The Standards are underpinned by the principles of proportionality, accountability and transparency. They establish a set of outcomes that AHBs are required to achieve in order to demonstrate the protection of housing assets provided or managed by AHBs.
Governance Standard
The Governance Standard establishes a set of outcomes that AHBs are required to achieve in relation to the governance and management of their organisations. It relates to responsibility and accountability of the Board.
It outlines the key outcomes that AHBs are required to achieve relating to membership, roles and responsibilities, procedures for decision-making, control and oversight, conflicts of interest, code of conduct, effective governing, accountability, honesty, integrity and risk management.
Financial Standard
The Financial Standard establishes a set of outcomes that AHBs are required to achieve in relation to their financial management and financial reporting.
It outlines the key outcomes that AHBs are required to achieve relating to management of resources and risks, whilst maintaining financial viability. The Financial Standard outlines the requirements for financial and risk control, financial viability, financial management, financial reporting, governance, strategic planning, monitoring of performance and risk management.
Property and Asset Management Standard
The Property and Asset Management Standard establishes a set of outcomes that AHBs are required to achieve in their management and delivery of housing, ensuring the provision of safe, suitable, and sustainable housing for tenants and service-users.
It relates to how AHBs manage their housing assets efficiently and effectively. It outlines the key outcomes that AHBs are required to achieve relating to their management of dwellings, statutory, legal and compliance obligations, asset management programmes and how they effectively manage the AHB’s housing stock.
Tenancy Management by AHBs
The Tenancy Management Standard establishes a set of outcomes that AHBs are required to achieve in their management of tenancies and in their communication with tenants. It relates to ensuring that AHBs have effective policies and procedures for the delivery of tenant services.
It outlines the key outcomes that AHBs are required to achieve relating to their statutory, legal and compliance obligations, allocations, nominations, communication with tenants and tenant satisfaction.