Value for moneyAt Arawak Walton we have had another busy year ensuring we achieve and improve our value for money. 2018/19 marked the third 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 are set to fall again in 2019/20. We continue to increasingly use text and email to communicate with our tenants, which is 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. When 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 2018/19 we were able to provide a further 14 homes, mainly by working in partnership with other housing associations and local authorities, with 6 to be let at social 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 16 kitchens, 61 bathrooms, 16 boilers and heating systems and replaced windows at 48 of our homes. Our modern “A” rated 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 UPVC windows require less maintenance than old wooden ones and also help reduce heating bills. Due to successful tender processes, staff have ensured that the best price has been paid for a number of property component replacements, 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 announcement in 2015, 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 our operating costs per unit per year are £3,197 which is significantly below our peers’ costs of £3,450. We constantly work to improve our value for money and we have plans to do this over the course of the next year.
Value for Money Self Assessment 2019 can be found here 2019
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: