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Regulator questions Civitas tenant options

Reit’s housing association customers yet to prove viability, says Regulator of Social Housing
Regulator questions Civitas tenant options
  • Sector leaseholders “just aren’t well-run”, says RSH
  • Tenants that pay more than 70 per cent of Civitas rent roll under scrutiny

A watchdog that raised finance and governance concerns around a string of Civitas Social Housing’s (CSH) tenants says it is yet to see a plan for how the censured housing associations can improve their financial viability, adding a fresh source of doubt to the Reit’s long-term business model.  

In September, the Regulator of Social Housing (RSH) launched an investigation into Civitas’ largest tenant, Falcon Housing Association, after identifying matters that may impact its compliance with governance and financial viability standards. As of June, Falcon made up 19.3 per cent of the landlord’s rent roll.

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