Time for tenants to have board representation. This sort of mess must never happen again; tenants should have a hand in selecting a new CEO.
- Regulatory Downgrade: In November 2024, the Regulator of Social Housing found Notting Hill Genesis non-compliant for governance (earning a ‘G3’ grade) and consumer standards.
- Financial Losses: The organization announced a pre-tax deficit of £285.7m for 2025/26, driven by asset valuation adjustments, impairments, and building safety remediation provisions.
- Account Delays: Just before Franco’s departure, Notting Hill Genesis delayed the publication of its annual accounts for the second time in three years due to internal finance function delays.
- Credit Downgrade: S&P Global downgraded the housing association’s credit rating amid these compounding financial and operational pressures.
- Tenant Discontent: The landlord faced severe, chronic repair delays, widespread errors in service charges, and intense pressure from resident groups and local members of parliament.
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