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Investing in Communities
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It is important that resources are targeted in the most cost effective
way at the housing stock. An Asset Management strategy greatly assists
this process.
It is no longer viable to assume that improving stock is the only, and the best way of dealing with property that is difficult to let.
A number of options may need to be considered in formulating the most appropriate action. For example:
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Going ahead with major repairs or improvements
Demolishing
Selling the site or building
Changing the building's use
Spending only minimal sums of money on the building
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Progress is successfully adopting asset management strategies to help
in the appraisal of these sometimes difficult decisions.
A number of different factors are considered in the strategy.
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Physical Condition
Costs of repairs
Major improvements required
Asset Value
Open market value
Potential uses and purposes
Current outstanding debts and grants
Functionality
Letting difficulties
Future investment requirements due to legislative or regulatory changes
Complaints from tenants or client requests
Location
Transfer rates
Past and future changes impacting on desirability
Political factors
Image of Housing Association
Stakeholder views
LA priorities
Social factors
Vandalism
Nuisance complaints
Tenant Association views and community development
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Wade Hall, Leyland - before and after redevelopment
Cyclical maintenance in action - painting contractors at a property in Penwortham
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