Decision

ReSI Homes Limited (5092) - Regulatory Judgement: 28 October 2026

Published 28 October 2026

Applies to England

Our Judgement

This judgement concerns an organisation that is designated a for-profit registered provider.

The registered provider is not at the head of its group. It is a subsidiary organisation within a larger group of connected companies.

The registered provider is not intended to operate as a standalone entity in the group structure. It requires the ongoing support of related parties to fulfil its functions and/or meet its objectives. The nature of this support is described in this judgement.

This judgement concerns the registered provider only and does not represent an assessment of the non-registered entities within the group.

	Grade/Judgement	Change	Date of assessment
Consumer	C2* Our judgement is that there are some weaknesses in the landlord delivering the outcomes of the consumer standards and improvement is needed.	First grading	October 2026
Governance	G2* Our judgement is that the landlord meets our governance requirements but needs to improve some aspects of its governance arrangements to support continued compliance.	First grading	October 2026
Viability	V1* Our judgement is that the landlord meets our viability requirements and has the financial capacity to deal with a wide range of adverse scenarios.	First grading	October 2026

Reason for publication

We are publishing a regulatory judgement for ReSI Homes Limited (ReSI Homes) following an inspection completed in October 2026.

This regulatory judgement confirms a consumer grade of C2, a governance grade of G2 and a financial viability grade of V1*.

This is the first time we have issued a regulatory judgement in relation to this landlord.

Summary of the decision

From the assurance gained during the inspection, based on the evidence provided by ReSI Homes, it is our judgement that there are some weaknesses in ReSI Homes delivering the outcomes of the consumer standards and improvement is needed, specifically in relation to outcomes in our Safety and Quality Standard, and Transparency, Influence and Accountability Standard. Based on this assessment, we have concluded a C2* grade for ReSI Homes.

Our judgement is that ReSI Homes meets our governance requirements but needs to improve some aspects of its governance arrangements to support continued compliance, specifically in relation to risk management, stress testing and recovery planning. Based on this assessment we have concluded a G2* grade for ReSI Homes.

Our judgement is that ReSI Homes meets our financial viability requirements and has the financial capacity to deal with a wide range of adverse scenarios. ReSI Homes forecasts adequate headroom against loan covenants and its stress testing demonstrates that financial capacity is built into its business plan. ReSI Homes has provided appropriate assurance that it has access to sufficient liquidity and adequate funding in place. Based on this assessment, we have concluded a V1* grade for ReSI Homes.

How we reached our judgement

We carried out an inspection of ReSI Homes to assess how well it is delivering the outcomes of the consumer standards and meeting our governance and financial viability requirements, as part of our planned regulatory inspection programme. During the inspection, we considered three of the consumer standards: Neighbourhood and Community Standard, Safety and Quality Standard and the Transparency, Influence and Accountability Standard. The Tenancy Standard is not applicable to ReSI Homes.

During the inspection we observed a board meeting and National Customer Group meeting, spoke with tenants, held meetings with ReSI Homes including with its non-executive directors, interviewed staff, and reviewed a wide range of documents provided by ReSI Homes.

Our regulatory judgement is based on a review of all of the relevant information we obtained during the inspection, as well as analysis of information supplied by ReSI Homes in its regulatory returns and other regulatory engagement activity.

Summary of findings  

Consumer – C2* – October 2026

In relation to the Safety and Quality Standard, we gained assurance that ReSI Homes has arrangements in place to ensure the health and safety of its tenants in their homes and associated communal areas. However, ReSI Homes needs to take steps to strengthen its own assurance of the effectiveness of health and safety performance information provided to it by property managers, and it does have plans to address this.

We saw evidence that ReSI Homes acquires its homes based upon appropriate due diligence processes to ensure the quality and energy efficiency of its homes.

As a provider of shared ownership homes, ReSI Homes holds responsibility for managing customer reports of property defects. Its arrangements have been a source of dissatisfaction for customers. ReSI Homes has recently implemented changes to improve the ease of reporting and the timeliness of works.

We gained assurance that ReSI Homes is delivering the required outcomes in relation to the Neighbourhood and Community Standard. There is evidence that it works with local partners to deter and tackle anti-social behaviour and hate incidents in the neighbourhoods where it provides homes, and that it is committed to strengthening its approach with its partners going forward.

In relation to the Transparency, Influence and Accountability Standard, ReSI Homes needs to ensure that the information thatit holds on its tenants is used to ensure consistent outcomes and service delivery across different tenant groups. ReSI Homes recognises this and has identified improvements to the quality, coverage and use of tenant information.

ReSI Homes has demonstrated that it offers a range of meaningful opportunities for tenants to influence its strategies, policies and services, however there are limited examples of tenant feedback and insight leading to improved service outcomes.  The National Customer Group was established in early 2026 and is intended to ensure that tenants play a greater role in decision-making processes.

We saw evidence that performance information on complaints is regularly reviewed, and that ReSI Homes has used this information to improve its services. Its approach to complaints handling has been a source of customer dissatisfaction, however we have assurance that ReSI Homes has taken action which is intended to improve performance in this area.

Several actions taken by ReSI Homes to address the weaknesses identified are at an early stage of their implementation. We will continue to engage with ReSI Homes as these actions are implemented to gain assurance that they are achieving the expected outcomes for tenants.

Governance – G2* – October 2026

ReSI Homes’ leadership has the skills and experience needed to deliver its key strategic objectives and operating activities. Board membership has recently increased following a skills-based recruitment exercise, and the wider governance framework has been strengthened by the establishment of an Audit and Risk Committee.

It is our judgement that ReSI Homes needs to improve some aspects of its risk management framework. We found weaknesses in the extent to which it has sought independent assurance of controls, with limited internal audit activity across the last financial year. When this inspection was completed in October 2026, ReSI Homes had yet to receive an internal audit opinion on a number of key areas included within its strategic risk register. We are assured that each of these is included in an enlarged internal audit programme for 2026/27.

We identified weaknesses in the extent to which key funding risks are reflected within ReSI Homes’ strategic risk reporting and the extent to which these risks are stress tested. ReSI Homes will need to ensure that there is appropriate oversight of all material risks, the effectiveness of mitigating controls and the potential impact should these risks materialise.

ReSI Homes has identified mitigating actions which it could take in the event of its financial position worsening, however it has not developed an implementation plan for these actions, nor has it demonstrated the required scale and impact of these actions as they would apply to specific scenarios. We are assured that ReSI Homes has begun work on the development of a recovery plan.

There is a clear link between ReSI Homes improving its governance arrangements and strengthening its ability to deliver the outcomes required by the Consumer Standards.

In our ongoing engagement with ReSI Homes, we will seek assurance that outcomes are achieved across all applicable standards.

Viability – V1* – October 2026

The financial performance of ReSI Homes has improved over the course of the last financial year and its financial plans are based on reasonable assumptions. Adequate headroom has been maintained and is forecast against loan covenants.

We have assurance that ReSI Homes has ongoing access to liquidity, and that funding is in place to meet additional costs which may arise in downside scenarios. There is also a pool of unsecured homes to support further borrowing.

A recent continuation vote provides assurance regarding the long-term availability of investors’ capital, and this supports the V1* grading for ReSI Homes.

Background to the judgement

About the landlord

ReSI Homes is a for-profit registered provider which operates in a large number of widely distributed Local Authority areas. It owns around 1,400 homes, the majority of which are in the South West, South East and in London. All of its homes are held for shared ownership purposes and are managed by third party property managers.

At 31 March 2026, ReSI Homes reported a turnover of £32.6m. ReSI Homes does not directly employ staff.

ReSI Homes has contracted to develop almost 900 units over the next three years using committed equity funding.

Our role and regulatory approach

We regulate for a viable, efficient, and well governed social housing sector able to deliver quality homes and services for current and future tenants.  

We regulate at the landlord level to drive improvement in how landlords operate. By landlord we mean a registered provider of social housing. These can either be local authorities, or private registered providers (other organisations registered with us such as non-profit housing associations, co-operatives, or profit-making organisations). 

We set standards which state outcomes that landlords must deliver. The outcomes of our standards include both the required outcomes and specific expectations we set. Where we find there are significant failures in landlords which we consider to be material to the landlord’s delivery of those outcomes, we hold them to account. Ultimately this provides protection for tenants’ homes and services and achieves better outcomes for current and future tenants. It also contributes to a sustainable sector which can attract strong investment. 

We have a different role for regulating local authorities than for other landlords. This is because we have a narrower role for local authorities and the Governance and Financial Viability Standard, and Value for Money Standard do not apply. Further detail on which standards apply to different landlords can be found on our standards page. 

We assess the performance of landlords through inspections and by reviewing data that landlords are required to submit to us. In Depth Assessments (IDAs) were one of our previous assessment processes, which are now replaced by our Regulatory inspections programme from 1 April 2024. We also respond where there is an issue or a potential issue that may be material to a landlord’s delivery of the outcomes of our standards. We publish regulatory judgements that describe our view of landlords’ performance with our standards. We also publish grades for landlords with more than 1,000 social housing homes. 

The Housing Ombudsman deals with individual complaints. When individual complaints are referred to us, we investigate if we consider that the issue may be material to a landlord’s delivery of the outcomes of our standards.  

For more information about our approach to regulation, please see Regulating the Standards.

Further information

• Regulating the standards
• Regulatory standards for landlords

Related documents

• Decent Homes Standard