Value for moneyAt Arawak Walton we have had anotherbusy year ensuring we achieve andimprove our value for money. 2018 marked the second year of the four year rent cut, with most of our tenants receiving a 1% rent cut. This means that our rents offer even better value for money than rents in the private sector.
On average our rents were around £60 a week cheaper than private rent and set to fall again in 2019 and 2020. We continue to increasingly use text and email to communicate with our tenants, which is both much quicker and also more cost effective. Tenants are also able to visit our website to access their account information and log repair requests which also saves time and allows a much more flexible offer to our tenants. Where we need to send out big mail outs, we use the services of a specialist company, which costs much less than sending it ourselves.
During the year we were able to provide a further 16 homes in 2017-18, mainly by working in partnership with other housing associations and local authorities, with 9 to be let at affordable rent levels. The Association was also successful in its bid for grant funding during the year meaning that more properties can be acquired in the future due to the lower net cost of acquiring those properties. During the course of the year we continued to maintain our stock and replaced 60 kitchens, 45 bathrooms, 69 boilers and heating systems and replaced windows at 53 of our homes. Our modern boilers use much less gas, which saves our tenants money. They are also less likely to break down, which saves our tenants’ time and saves us the cost of repairs. The new boilers are also much better for the environment as they produce less carbon dioxide. New windows require much less painting than old wooden ones and also help reduce heating bills.
.Due to robust procurement methods, staff have ensured that the best price has been paid for a number of components, in order to obtain best value for our tenants. Many of these replacement items have been bought direct from the manufacturers, meaning we can buy more for our money.
Following the rent cut announced in 2016, we have tried where possible to maintain costs at the 2015/2016 level, but this has not always been possible due to inflationary increases on some services and also growth in our property portfolio which brings additional costs. However, it is pleasing to note that operating costs have only risen by 1.57% since March 2016, significantly below CPI inflationary increases of 4.75% over the same period. We constantly work to improve our value for money and we have plans to do this over the course of the next year.
View our value for money self assessment for 2016-17.
Value for Money Self Assessment 2018 can be found here Financial Statement 2018
Performance InformationAt Arawak Walton, we aim to continue to deliver excellent customer service, while looking for ways to generate savings and income wherever possible. This ensures that we can re-invest into our current neighbourhoods in addition to growing the number of homes we own and manage, helping to meet the demand for our homes and the aspirations of our tenants.
Report of the Independent Auditors 2018
Customer Satisfaction Survey
View our Financial statements for: