Affordable rents:
Download
1 / 18

Contents - PowerPoint PPT Presentation


  • 67 Views
  • Uploaded on

Affordable rents: WHG experiences so far Presented by Anthony Riley (Group Director of Development & Operations) Gurmeet Virdi (Director of Operations – East Midlands). Contents. Finance – how does the programme stack up for WHG Delivery - What does it look like for WHG

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about ' Contents' - lawrence-sanders


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript

Affordable rents: WHG experiences so farPresented by Anthony Riley (Group Director of Development & Operations)Gurmeet Virdi (Director of Operations – East Midlands)


Contents
Contents

  • Finance – how does the programme stack up for WHG

  • Delivery - What does it look like for WHG

  • Affordable Rents –contemporarydataon rents across the region for WHG

  • Affordable Tenancies – feedback from customers of WHG

  • Policy – what is next?



Finance the hca criteria
Finance: the HCA criteria

  • Up to 80% of market rents

  • Inclusive of service charges

  • Linked to new fixed term tenancy agreements

  • Must include some conversions

  • Rents to be rebased on re-let (or renewal of tenancy)

  • Can be increased by up to RPI +0.5%


Finance the whg criteria
Finance: the WHG criteria

  • New tenure: Renewable 5 year AST

  • Assessment of voids for conversion to affordable rent

  • Capping increase at +25% current social rent (re-lets only) and < £20 pw

  • < 95% LHA (re-lets and new build)

  • Used staff and local RICS Agents, not Zoopla, Savills

  • Target 200 conversions from Social to Affordable Rent per annum


Delivery total referrals sept 2011 aug 2012
Delivery: Total referrals (Sept 2011 - Aug 2012)



Delivery lettings oct 2011 to end aug 2012
Delivery: Lettings (Oct 2011 to end Aug 2012)

Q) Average length for a SR tenancy?

Q) % rental increase in real terms?

Q) Number of refusals?


Ar v the market rent an analysis of the market rents in leicester and nottingham
AR v the market rent:an analysis of the market rents in Leicester and Nottingham


Ar v the market rent an analysis of the market rents in leicester and nottingham1
AR v the market rent:an analysis of the market rents in Leicester and Nottingham


Ar v market rent additional costs on top of advertised rent and deposit
AR v market rentadditional costs on top of advertised rent and deposit

Schedule Of IndicativeCharges

Charge Description DetailsAmount

  • Extension Fee per tenantFor each fixed term extension £75plus VAT per tenant

  • Extension Fee per tenancyFor a periodic tenancy £150 plus VAT Check Out Fee deducted from deposit £75 plus VAT

  • Late Payment of Rent 1st offence !! £75 plus VAT

  • Late Payment of Rent all subsequent offences £150 plus VAT

  • Premature cancellation due if you cancel your instructionof Standing Order without landlord's permission £150 plus VAT


Ar v market rent more costs
AR v market rent……more costs

Schedule Of Indicative* Charges

Charge Description DetailsAmount

  • Amend Tenancy Fee to change tenants mid tenancy £300 plus VAT

  • to change tenants at end of tenancy £150 plus VAT

  • Add permitted occupier to existing tenancy £50 plus VAT

  • Early Vacation contact office for details 1months rent Late Return of Keys at the end of Tenancy daily rent rate

  • Maintenance Call Out User Error £75 plus VAT

  • Maintenance Call Out Non emergency out of hours** £150 plus VAT


Affordable tenancies feedback so far
Affordable tenancies – Feedback so far

  • Any negative responses to offers of an A/R  tenancy?

  • Have tenants queried why the rent is higher?

  • Have tenants queried the fixed term nature of tenancies? 

  • Have there been any post sign up queries about why neighbours (social tenants) pay less rent?

  • Are tenants generally happy with this tenancy type?

  • Has there been any raised expectations from A/R and if so, what have these been?


Affordable tenancies feedback
Affordable tenancies - feedback

  • Results of NLHT survey


Policy what happens at the end of the 5 year fixed term 1
Policy: What happens at the end of the 5 year fixed term? (1)

  • In the vast majority of cases a new fixed term tenancy will be issued.

  • Exceptions are:

    • Where it would breach charitable status (e.g where income is high)

    • Where property under occupied by more than 1 bedroom

    • Where breach of tenancy has been identified

  • Rent will be rebased to make sure it is no more than 80% of market rent at that time


Policy what happens at the end of the 5 year fixed term 2
Policy: What happens at the end of the 5 year fixed term? (2)

  • Tenancy would be formally reviewed at least 6 months before it is due to end. Usually at 4 years 3 months into tenancy

  • Aim to assess continued eligibility as outlined above

  • Report to be made to manager if as a result recommending termination of tenancy

  • If decision to end at least 6 months notice of termination needed and advice and assistance must be given to help tenant find alternative accommodation

  • WHG likely to resolve issue of downsizing

  • Appeal process is established in procedure


Policy where is it heading
Policy: Where is it heading? (2)

  • 30/3/12 Minister hints at Affordable Rents repeat

  • Montague review

  • Housing and Growth package stimulus


Affordable rents so far
Affordable Rents – so far (2)

questions or comments


ad