Financial Housing News

Minister O’Brien Welcomes Approved Housing Bodies Regulatory Authority Statement of Strategy 2021 – 2024

The Minister for Housing, Local Government and Heritage, Darragh O’Brien TD has welcomed the publication of the Approved Housing Bodies Regulatory Authority Statement of Strategy.

The Strategy Statement covers the period 2021 to 2024 and outlines how the Approved Housing Bodies Regulatory Authority (AHBRA) intend to deliver on their mandate over the next three years.

Commenting at the Department’s Customs House offices, Minister O’Brien said, “I am pleased to be launching this Strategy Statement today which sets out the vision and mission of the Approved Housing Bodies Regulatory Authority for the next three years. AHBRA will be an important element in support of our ambitious housing agenda, overseeing the effective governance, financial management and performance of all AHBs.”

The Strategy sets out five key strategic objectives which AHBRA will aim to achieve:

i. Reliable and efficient AHB Registration Framework.

ii. Proportionate standards and compliance frameworks.

iii. Transparent and consistent risk-based regulation.

iv. Consistent and effective communication with our stakeholders.

v. An agile, flexible and accountable organisation.

The Regulator has a number of functions, one of which is to draft standards against which AHBs can be assessed. The standards will cover matters relating to corporate governance; financial management and reporting; property and asset management; and tenancy management. Draft standards were published on AHBRA’s website on 1 October 2021 and will remain there until 29 October 2021, allowing for representations to be made in accordance with the Act.

The Minister added, “the 28-day representation period taking place during October presents an important opportunity for stakeholders to get involved and have their say on what the standards should look like. AHBs make a vital contribution to the delivery of social housing across the country. Statutory regulation will provide further assurances to tenants, the public and potential investors that AHBs operate in a secure environment. AHBRA has an important role to play and I wish them every success as they move towards becoming operational in 2022.”

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