Understanding Registered Social Landlords (RSL)
RSLs are proud of what they do, and rightly so.
Registered Social Landlords make a profound difference in Scottish communities by providing high-quality, affordable housing and essential support services. This vital work requires navigating complex financial landscapes in an increasingly regulated, environmentally conscious sector.
That enhances the quality of life for residents.
The management of property portfolios, support services, and maintenance programmes creates significant financial complexities that demand expert guidance and support.
Meet our Specialised RSL Team
Our team is working in collaboration with Louise Kirkland, a Chartered Certified Accountant bringing valuable insight from the day-to-day workings of a finance role within the social housing sector. Louise has first-hand experience of the finance reporting requirements of RSLs and understands the unique challenges and responsibilities faced by the industry.
Working alongside Louise is Fiona Struthers BAcc CA, our Audit and Charities Manager, who contributes years of professional expertise in delivering exceptional accounting and audit services to both charitable and commercial organisations.
Other members of our team bring extensive experience and technical expertise in all tax matters, along with proficiency in applying sophisticated software to deliver effective financial forecast reports and management information.
Together, we are dedicated to supporting your financial health and compliance, allowing you to focus on your mission.
Our Commitment to Your Mission
We fully respect the Scottish Housing Regulator’s statutory objective “to safeguard and promote the interests of current and future tenants, people who are homeless, factored owners and Gypsy/Travellers.”
We recognise your dedication to meeting these objectives while navigating the considerable financial and regulatory pressures within Scotland’s vital social housing sector. Our team is committed to providing personalised, professional accountancy services that support your success.
Tailored Service Packages
Select from our comprehensive suite of services designed specifically for RSLs:
Select the combination of professional advice that best complement your requirements. From financial audits to tax planning and compliance, we offer a full suite of services designed to meet the specific needs of registered social landlords.
- External audit, including audited financial statements and external auditor’s management letter.
- Statutory Accounts.
- OSCR submissions.
- Trustees Reports and financial training.
- Financial projections for any period, including 30-year financial projections (comprehensive income; financial position; cash flow – along with assumptions and notes).
- Comparison financial projections with loan covenants.
- Financial sensitivity analysis.
- Quarterly Management Accounts.
- Software for bookkeeping and accounting – we can train individual members of your team, tailor financial reports and KPI dashboards, or we can share the financial management workload when you outsource parts of the financial function to Accountants Plus.
- Payroll. Outsource the entire payroll obligation, including making secure payroll payments to every team member each week/month.
Partner with us to ensure your RSL’s financial health and compliance, allowing you to focus on what you do best – supporting your community.
How Does Accountants Plus Meet Your Priorities?
We understand that being a Financial Leader within a Registered Social Landlord (RSL) involves navigating a complex landscape. The challenges of being a regulated landlord, the necessity of meeting stringent financial standards, plus the social obligations of operating as a charity within Scotland are demanding. Our team brings real-world experience and empathy to these issues, ensuring that we provide solutions that are not only effective but also considerate of the unique pressures you face.
Many years’ experiences of advising charities, property investors and portfolio managers, and businesses within construction and related trades has given us an appreciation of many of the practical issues that affect a Registered Social Landlord (RSL) in addition to the strictly accounting and tax matters. We imbed the lessons acquired into our processes, and often our recommendations, for effective financial management and assurance of each Registered Social Landlord (RSL) within Scotland.
Our tailored services can help address the financial management challenges in the following ways:
Risk Management and Mitigation
Proactive Financial Risk Assessment: We can conduct comprehensive financial risk assessments to identify potential risks and develop strategies to mitigate them. This includes both strategic and operational risks that could impact your organisation’s goals.
Contingency Planning: Our team can assist in creating robust contingency plans to ensure your organisation is prepared for unforeseen events, thereby reducing the likelihood of financial disruptions.
Asset Management
Optimising Asset Utilisation: We can help your organisation to analyse net income flow, debt covenants, and return on capital to aid financial stability.
Financial Forecasting: Our experts can provide detailed financial forecasting to help your organisation plan for future expenses and income, ensuring long-term financial health.
Regulatory Compliance
Financial Management: We offer guidance on adhering to the standards of Financial Management set by the Scottish Housing Regulator (SHR). This includes ensuring that the governing body bases its decisions on high-quality information and advice.
Audit and Assurance Services: Our audit services can help your organisation maintain transparency and accountability, providing stakeholders with confidence in its financial practices.
Tax Planning and Compliance
Tax Efficiency: We can assist in identifying tax-saving opportunities and ensuring compliance with relevant tax regulations, thereby reducing the overall tax burden on your Registered Social Landlord (RSL).
Charity Compliance: Given your organisation’s status as a, we can provide specialized advice to ensure compliance with the Office of the Scottish Charity Regulator (OSCR) requirements.
Housing Challenges in Scotland
Scotland faces significant housing challenges, with increasing demand for affordable housing and rising homelessness rates:
- In 2022-23, total new housing supply increased by 10% to 24,368 homes—the highest level since the 2007-08 financial crisis—yet demand continues to outpace supply.
- Social housing saw a 6% increase in new build completions, but significant shortfalls remain.
- Homelessness applications and temporary accommodation use continue to rise, highlighting the urgent need for effective housing solutions.
Sources
- https://www.gov.scot/news/housing-statistics-for-scotland-2022-23/
- https://scothealthequity.org/reactive-stats-summary-homelessness-in-scotland-statistics-2023-24/
Supporting Your Financial Resilience
As Helen Shaw, Director of Regulation at the Scottish Housing Regulator, noted at the SFHA Finance Conference (November 2024): “There has been a clear tightening of RSL finances and there’s less margin for error which means good governance is ever more important.”
We’re here to help you navigate these financial pressures through:
Contingency Planning:
Our team develops detailed financial models to help you create robust contingency plans, ensuring your organisation is prepared for emerging challenges.
Financial Loss and Cash-Flow Management:
We expand your financial analysis and planning resources to maintain profitability despite sector pressures and changes.
By partnering with Accountants Plus, your organisation will enhance its financial stability, ensure regulatory compliance, improve operational efficiency, and maximise your positive impact on the communities you serve.
