The British Property Federation has today published a Code of Governance for for-profit affordable housing providers
It marks the culmination of almost a year of work on a new Code, developed in collaboration with consultancy Campbell Tickell, experts in governance, and an advisory group of investors and advisors led by Rob Beiley, partner at law firm Trowers & Hamlins.
Role of the Code of Governance
The Code establishes a set of standards designed to embody and promote good governance practices within the for-profit registered provider (FPRP) sector in England.
Institutional investment, predominantly through FPRPs, plays a valuable and increasingly significant role in providing affordable housing.
This investment is crucial for addressing the housing needs of many communities.
Importance of good governance
Members of the British Property Federation (BPF) recognise that good governance is essential for safeguarding the interests of shareholders, customers, and other stakeholders.
Robust governance practices are vital for protecting the reputation of the sector.
Ian Fletcher, director of policy at the BPF, said: “The publication of a Code of Governance for For-Profit Registered Providers provides a framework that will enable providers to demonstrate to stakeholders the highest standards of good governance and positive stewardship of affordable housing.”
Existing codes of governance do not include FPRPs
Greg Campbell, partner at Campbell Tickell, who drafted the code with colleague Ceri Victory-Rowe, said: “The existing codes of governance used by many organisations in the sector, such as the National Housing Federation Code, the UK Corporate Code and ecoDa, all have particular strengths.
“None of them, however, is quite right for FPRPs, in recognising the distinct elements of these organisations while ensuring a commitment to the highest standards in governance for the regulated social housing sector. This code is designed to fill that gap, and we are confident it will be welcomed by FPRPs.”
