Shared Ownership is a complex product and continues to receive challenging scrutiny and is subject to changing regulation. We are seeing RPs commissioning deeper dives into rent setting to determine if rent increases have been implemented correctly, and to the correct level.
Large or small providers will generally have multiple variations of rent review clauses but understanding the implications of how RPs set and control rents is a vital part of ensuring this tenure works for both owners and providers.
This is an issue on many levels including:
- Lease compliance
- Weak controls and governance
- Potential breach of lending covenants
- Impact an RPs ability to sell shared ownership stock.
This session will look at common Issues we see in dealing with shared ownership rent increases, what RPs should be thinking about if they have shared ownership portfolios of any size and the wider regulatory and commercial considerations.
We will cover:
- Implications of failing to comply with lease provisions
- Data retention and integrity
- Impact on regulatory compliance
- Options for resolution and future considerations
Speakers:
Samantha Grix, Partner, Devonshires
Samantha advises Private Registered Providers and Local Authorities across a spectrum of matters affecting the social housing sector including Housing Management and and has specialist knowledge of rent regulation.
Zoe McLean-Wells, Partner, Devonshires
Zoe advises on all aspects of housing management and practice including all aspects of leasehold, possession proceedings, injunctions, enfranchisement, forfeiture, service charge issues, Tribunal proceedings and lease interpretation. She has a particular interest in fire and building safety related matters.
Tristan Salter, Barrister, Five Paper
Tristan has a busy Property practice with a focus on real property, leasehold and trusts of land. He is also able to advise on the frequent cross-over of property issues into the realm of company law or insolvency. Tristan has advised extensively on shared ownership including on issues of regulation, funding and possession.
Helen Routledge, Director, Campbell Tickell
Helen leads on Campbell Tickell’s rent work. The scope of the rent work ranges from providing assurance on rents charged, to supporting organisations to correct rents and determine refunds to tenants and lease holders when incorrect rent has been charged. Our clients range from supporting co-operatives with less than 100 units to members of the G15.
