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Social Housing Act, 2008 (Act No. 16 of 2008)

Rules

Rules on Long-Term Accreditation of Social Housing Institutions

Chapter 1

3. General Principles

 

3.1 The accreditation process will be open, equitable, fair, transparent and as simple as possible while at the same time being efficient and cost effective.

 

3.2 The Regulatory Authority is there to ensure that institutions applying for accreditation meet the required standards of quality in order to provide sustainable social housing, and that they deliver at scale.

 

3.3 The accreditation process ensures that the provision of quality social housing is consistent with the applicable social housing principles, norms and standards.

 

3.4 The accreditation mechanism has been established to stimulate and regulate the social housing institutions and the social housing sector. It provides incentives and compliance criteria for SHIs to ensure that their operational viability is safeguarded and also provide a measure of comfort to any financial institution from which an SHI may wish to borrow for project development. In addition, it provides an assurance to Government and the South African taxpayers that its investment is well protected.

 

3.5 Accredited institutions should not be seen as short-term vehicles for providing housing to a specified market segment, but are seen as robust, sustainable institutions, established to assist in providing the social housing option. The institutions will therefore have to demonstrate financial and operational sustainability over time while adhering to the guiding principles for social housing.

 

3.6 The Regulatory Authority requires the social housing institutions to meet a series of criteria in order to achieve accreditation status. These criteria have been designed to ensure that social housing institutions are able to deliver at the required quality standard.

 

3.7 The Regulatory Authority has undertaken to ensure that institutions have access to support that will help them to meet the objectives of full accreditation during the period of being conditionally accredited.