Could you join the Responsible Actors Scheme?
A new list of the UK’s most reliable residential property developers is set to serve as a gold standard for the real estate sector. Could you be a member? Let’s find out more.
The Building Safety Act 2022 was brought in by the government in the wake of the Grenfell Tower disaster of 2016. While its primary aim is to prevent another tragic high-rise building fire, it also has far-reaching effects across planning, construction and the responsibilities of landlords. Part of the Act includes forming a trusted list of residential property developers called the Responsible Actors Scheme or RAS.
In this article, we’ll look more closely at the RAS. We’ll examine the scheme itself, how you can add your name to the list and the benefits you can gain. Let’s get started.
What is the RAS?
The Responsible Actors Scheme is a list of (currently larger) residential property developers who can be trusted to provide safe homes for tenants. The centrepiece of the scheme is a legally-binding ‘pledge’ that you will fix life-critical fire safety defects in your residential buildings. So far, 51 developers have signed up to the scheme.
To sign the pledge and join the RAS, you need to fulfil several criteria. These are:
You have at least one residential building in your portfolio that includes multiple leasehold properties
Your building is more than 11 metres high
It was developed or redeveloped between April 1992 and April 2022
How to join the RAS
If you believe you meet those criteria and would like to join the scheme, you can wait to be invited, or you can apply yourself.
The RAS is currently inviting developers who:
Cite residential property development as their principal business
Have developed or redeveloped high-rise residential buildings in the last 30 years
Post an operating profit of more than £10 million over a 3-year time period
Have developed or redeveloped at least one building that qualifies the criteria in the section above
You can apply to join the RAS if you don’t fulfil all these criteria but are responsible for developing or redeveloping qualifying buildings.
Why join the RAS?
There are several benefits to adding your name to the Responsible Actors Scheme.
Most importantly, you’ll find it easier to do business. Moving forward, only developers on the RAS list will be able to continue in the major redevelopment of land in England. If you want to be involved in large, lucrative projects, notably those administered by the Department for Levelling Up, Housing and Communities (DLUHC), you’ll need to show that you are among the best in the business, which means joining the RAS.
You should look at the RAS as future-proofing your business as it expands into other areas of real estate. It may only be major home-builders at the moment, but it has the potential to impact every area of property development.
Don’t ignore the RAS
Even if the RAS isn’t relevant to you today because perhaps you don’t have high-rise buildings in your portfolio or don’t post profits of the size to qualify, you should be aware of it and how it may affect your business.
If you want to learn more about the RAS or even put your name forward, talk to your property solicitor. They’ll be able to ascertain whether you qualify, explain the options available, and, if necessary, begin the process of submitting your application. Once you’re on the list, they’ll help you ensure continuous adherence. Remember, the RAS pledge is legally binding and non-compliance can lead to severe consequences. Make the RAS part of your next conversation with your solicitor.
Find out more from Couchman Hanson
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