Agenda item

Report of the Corporate Director (Housing and Communities) on an update on Now Housing Limited.

Report of the Corporate Director (Housing and Communities), which provided an update on the progress of Now Housing Limited, which was owned by the Council. The company provided housing across the Borough and provided housing accommodation for families and residents that could access Council housing but cannot afford market rent. The company helped facilitate people into accommodation that was affordable.

The following points were raised and discussed:

·         The company at present owned and managed only one block of 12 flats in Chequersfield.

·         There were 100% of rent collection collected with no debts due and no loss of monies through void loss either because all of the properties had been occupied since the tenancies had commenced towards the end of last year.

·         The company plans to increase the number of properties within the portfolio but it had been suggested that whilst stock numbers were low, the Council would bring periodic updates back to the Panel on a six months basis.

·         Members asked what changes were expected to be seen over the coming years, in terms of number of houses. Officers confirmed that in the business plan it states that the company plans increase the portfolio to over 300 properties over the next ten years. This will be delivered through an ambiguous programme of stock acquisition, new developments and possible joint ventures with developers to increase the portfolio numbers to enable a range of homes to be provided.

·         Members asked if there was a plan laid out for a number of flats, bedrooms or houses. The Officer stated that there was a business plan that was circulated and shared in September 2020. It set out the objective of what type of stock we would buy (1 or 2 bedroom properties) based on the assessment that was carried out on the demand for housing need.

·         Members asked what the length of a tenancy was. Officers confirmed that the tenancies were short hold and were for a five years fixed period.

·         Members asked if anything was on the horizon to acquire more properties in the next 12 months. Officers confirmed that there were a pipeline of property acquisitions and some properties were being built. The Head of Housing Operations to bring this information to Members.

·         Members thanked the housing department in their role supporting the residents of the Borough.

Post Minute Note: A note was circulated advising Members of the length of tenancy for a ‘Now Housing’ tenant, which is three years, not the five years, as advised at the meeting.  The information relating to the ‘Now Housing Business Plan’ had been circulated (CHP agenda pack of March 2021).

The Head of Housing Operations advised that the potential pipeline over the next 3 years is 350 properties, consisting a mix of one and two bedroom flats and studio flats. All opportunities are subject to viability assessments and the necessary formal approval from the Now Housing Board and the Council’s Cabinet.

RESOLVED:

(Unanimous)

The Cabinet Housing Panel noted the report of Now Housing Limited, which presented an update on the company’s progress to date.