What is a Community Benefit Society (CBS)?
A Community Benefit Society (CBS) enables housing associations to simplify the way they are run and to provide even better value for money. SARH is planning to become a CBS, in line with many other housing associations across the country.
At present, SARH is a ‘Limited Company’ but the change will not have any impact on customers, their rights or their tenancy agreements, although it will help the organisation to run more efficiently whilst protecting funding for housing services and the building of new homes.
Following the Governments removal of a number of regulatory requirements for social landlords like SARH, converting to a CBS will simplify the running of the housing association making it more efficient, whilst remaining a charitable organisation regulated by the Social Housing Regulator rather than being registered with the Charities Commission.
Of course, SARH would not implement any changes to its structures without fully consulting with its customers and other key stakeholders.