Value for money
At Arawak Walton we have had another busy year ensuring we achieve and improve our value for money. Despite the challenges that Covid-19 has brought, we have been able to provide most services as normal. We are pleased to see that our average costs continue to compare favourably with our peer organisations, which means we can reinvest our surpluses into improving our homes over the coming years, with focus on health and safety and energy efficiency. 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. We continue to invest in better technology and are currently focussing on enabling staff to work more efficiently whilst they are out and about in our communities.
During the year we were able to provide a further 13 homes in 2020/21, mainly by working in partnership with other housing associations and local authorities, with 11 of these to be let at social rent levels. During the course of the year we continued to maintain our stock and
replaced 30 kitchens, 20 bathrooms, 6 boilers and windows at 38 of our homes. We also carried out a full roof replacement to one of our large schemes. The new UPVC windows we have installed become effectively maintenance free as they don’t require painting like the old wooden ones and also help reduce heating bills. 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.
Due to successful tender processes, staff have ensured that the best price has been paid for all these property components, in order to obtain best value for our tenants. The tendering and improvements were an excellent achievement given the testing and challenging times of Covid 19. Following the rent cut announced in 2016, we have tried where possible to maintain costs at similar levels, 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 reduced in 2020/21 to £3,375 per property which is significantly below our peers’ costs of £3,824. We constantly work to improve our value for money and we have plans to do this over the course of the next year. A copy of our full value for money statement for 2020/21 is contained within our 2020/21 statutory accounts and can be found here.
At 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.
View our Performance information for 2021
Customer Satisfaction Survey October 2019
View our Financial statements for:
Arawak Walton Key Performance Indicators
The following table identifies where Arawak Walton are performing in key areas of the organisation in relation to our targets.
|Values||Key Performance Indicator||Dec-20||Mar-21||Jun-21||Targets|
|Financial Strength||Operating Margin||21%||25%||19%||>18%|
|Rent arrears of current tenants as a percentage of rent||3.74%||2.54%||2.27%||<3.2%|
|General Needs (GN)||3.78%||2.78%||2.49%||<3.4%|
|Housing for Older People (Over 55) (HfOP)||3.52%||1.34%||1.18%||<1.8%|
|Percentage of rent collected as a percentage of rent due||100.79%||102.22%||102.57%||>100.9%|
|Compliance with financial covenants (%)||100.00%||100.00%||100.00%||=100%|
|Rent loss dues to voids||£11,936||£12,499||£12,429||<£19,896|
|Rent loss due to voids %||0.23%||0.24%||0.24%||<0.40%|
|Number of days taken to let a property||28.87||24.57||23.13||<18.5|
|Growth and Innovation||Number of Months Left Available Loan Facilities||25||25||33||>24 Months|
|Percentage of properties acquired compared to Growth Plan||80%||130%||%||>100%|
|Open and Accountable||Overall Cost Per Unit||£3,589||£3,367||£4,149||<£4,114|
|Percentage of properties that require a gas safety record which had a gas safety check and record completed by the anniversary date||100%||100%||100%||=100%|
|Percentage of tenants with Customer Profile Survey completed||99.63%||99.63%||99.45%||>99%|
|Overall satisfaction with the responsive repairs service||99.8%||99.8%||99.6%||>96%|
|Value People||Average Staff Sickness||10.42||6.31||6.18||<9 days|
|Overall Staff Satisfaction Rate||2||2||2||<1.8|
|Overall tenant satisfaction with services provided||92%||92%||92%||>91%|