Local Space has received confirmation of its strong governance and financial resilience following a recent inspection by the Regulator of Social Housing.
The organisation retained its G1 governance and V1 viability ratings, alongside a compliant C2 consumer grading as part of the regulator’s consumer inspection programme.
The regulator concluded that Local Space meets its governance and financial viability requirements, citing the effectiveness of its governance arrangements, its “strong financial profile” and its capacity to withstand a wide range of adverse scenarios. The judgement also recognised the organisation’s funded business plan, sufficient liquidity and robust approach to risk management.
The inspection highlighted Local Space’s understanding of the condition of its homes, its use of tenant feedback and the opportunities it provides for residents to influence decision making.
Josie Parsons, CEO at Local Space, said: “As we celebrate 20 years of providing settled homes across London, we’re proud that the regulator has recognised the strength of our governance, financial resilience, customer focus and long-term planning.
“Independent assessments such as these matter because they provide confidence to residents, partners and investors that Local Space has the right foundations in place to deliver sustainable growth and long-term impact.
“While we’re proud of what we’ve achieved over the past 20 years, we’re equally focused on the future and on continuing to strengthen our services so we can support even more people across London.”
This year marks Local Space’s 20th anniversary. During this time, the organisation has helped thousands of people access safe, secure housing across London and continues to pursue its ambition to expand housing supply across the capital.