Social housing provides stable, affordable homes for those at the sharp end of the housing crisis. According to the Office of National Statistics, there are 4.1 million socially rented properties in England and Wales. With housing a top priority for Government to help secure the future of the country, major changes lie on the horizon.
The Housing and Planning Bill will breathe new life into the ‘Right to Buy’ scheme. Initially introduced in 1980, the scheme was designed to help council and housing association tenants in England buy their home at a discount. In April 2012, the maximum discounts were increased to £77,900 across England (£103,900 in London), causing a further 33,000 households to take up their Right to Buy.
Under the new Housing and Planning Bill, it would:
A report from the Department for Communities and Local Government indicates that the new legislation is driving more tenants to want to own their own home. Among social renters, 44% have expressed a desire to buy their home, increasing from 37% previously.
There’s no denying that extending the scheme will impact your operations. In our experience additional requirements will include:
So what can you do to minimise the impact of the changes, and maximise the returns?
Working alongside one of the housing associations in the current VRTB pilot, we have gained a deep understanding of the specific drivers in your industry and developed a tool to help you address the challenges.
VRTB Assessments is a system that enables online applications to be processed quickly and easily by applying rules to filter out applications that do not meet the qualifying criteria. Choose VRTB Assessments for:
Gather all the information you require to process a tenant application in just five steps.
Significantly reduce the time and resource required to handle each claim.
Allow for easy changes and updates to questions and information fields.
Data resides online, locked behind strict security protocols for greater protection
Export data via CSV to add it to your existing CRM system
When the VRTB pilot is launched nationwide this summer, you’ll want to be ready to cope with the demand. Contact us to relieve your impending administrative burden with VRTB Assessments.