£2.2m Investment in Tenant Homes
The Association plans to invest £2.2m in tenants homes during next financial year.
Included in the above sum is £143,701 earmarked for heating and boiler upgrades; £281,093 for external works; £238,398 for kitchen replacements and £145,026 for new windows.
Other budget highlights for financial year 2021/2022 include:
- restriction of the annual rent increase to 0.7%
- annual income of £7.4m
- increased turnover by 1.1%
- a projected year end surplus of £912,090
The Association’s Director, George Tainsh said;
“Balancing the income generated through rents, which is required to provide the management and maintenance services to existing tenants and trying to keep rents as affordable as possible is always a difficult task and this year has been no exception particularly in light of the financial difficulties faced by many tenants as a result of the pandemic.
We are particularly pleased that we have been able to restrict the rent increase to 0.7% which allows the Association to deliver its ambitious investment plans and to continue to provide excellent value for money for tenants whilst ensuring a financially robust organisation”.