Value for money
We have set ourselves the target of being among the best performing housing associations in the country with a reputation for delivering a top quality service with at least an average cost base, by the time of the London Olympics in 2012. Making sure we provide a value for money service in all that we do, will play a large part in determining whether we achieve this goal.
If we operate efficiently, it will mean that we can spend more money improving our homes and services for our residents and building more affordable homes to meet some of the rising housing demand. Providing good value for money is one of the key areas that housing associations are inspected on by the Audit Commission.
Why is value for money important?
We want to spend as much as possible on improving our services to residents. And we can do this by making sure that we are an efficient and cost-effective organisation.
For example, reducing the time it takes us to re-let vacant properties, means we can maximise the income we collect. And improving our income collection performance will mean we receive more money, which means we can spend more on improving our homes and services. If we can help you to manage your finances efficiently, then you will see benefits to this as well.
When assessing how efficient we are, we ask the following questions:
- Can we get the same results using fewer resources?
- Can we get better results using the same resources?
- Can we pay less for something but get the same result?
- Will putting in more resources provide a better result?
How our residents can help
Our residents can help us run an efficient and value for money service by:
- Keeping to the terms of your tenancy agreement or lease
- Reporting repairs as soon as they arise and take your own responsibilities for looking after your home seriously
- Helping to looking after the local environment
- Reporting acts of vandalism