June 28, 2018
Foundation Housing has recently been awarded the highest regulatory accreditation that can be achieved by an Australian Community Housing Provider (CHP).
The organisation’s status as a leading West Australian Community Housing Provider has been formally recognised with the achievement of Tier One accreditation under the WA Community Housing Regulatory Framework (CHRF). This is the same classification held by many of the large CHPs throughout Australia.
Foundation Housing’s Chief Financial Officer, Jeff Logan, says achieving the accreditation demonstrates that the organisation meets important regulatory thresholds through assessing critical business factors such as tenancy and property management processes and financial viability.
“We are also now well placed to participate in Federal Government funding initiatives such as infrastructure funding and aggregated bonds. We expect the Federal Government to look at organisations participating to have a standard level of regulation assessment under the National Regulatory System for Community Housing (NRSC) which the WA’s regulation is based. The accreditation gives us a badge that supports us to participate in these initiatives,” Mr Logan said.
Western Australia adopted the regulation on 1 April 2017 and Foundation Housing commenced the thorough application process later in the year.
“It has been an exhaustive process that has benefited the organisation considerably,” Mr Logan added.
Accreditation required Foundation Housing to be assessed across the key business areas of tenancy management, asset management, governance, probity, and financial viability with an analysis covering a projected 10 year horizon.
In order to maintain its Tier One status, annual compliance assessments will be conducted by the Community Housing Regulator in WA.
Foundation Housing Ltd is one of only two West Australian based community housing providers to achieve Tier One status since the WA adopted the national framework.