Affinity Housing: SPV Management

Affinity Housing is responsible for c1300 residential units in North Whitley, Reading across houses and medium rise blocks. Vercity has provided management services since 2006.

Proactive Financial Management

With the submission of contractual reports and forecasts at the appropriate time the contractual standard, Vercity’s proactive approach to communication ensures that the lenders have confidence in this information and are kept advised of project developments ensures that the relationship is positive and productive.

With an intelligent approach to key expenditure areas including programming the replacement programme for kitchens and bathrooms Vercity ensures astute financial management while complying with the requirements of the contract and the regulatory environment, including the Decent Homes Standard and the Homes (Fitness for Human Habitation) Act 2018. This approach has delivered the expected returns to investors while achieving tenant satisfaction scores of 92% for homes being well maintained and 93% for homes being safe.

Social Housing Expertise

The compliance of housing services is critical to project success and tenant satisfaction. Vercity’s in-depth knowledge ensures that informed conversations can be held with the housing manager and the Council housing team about the management of tenancies and the enforcement of conditions. Management of voids and recovery of arrears to maximise Council income is a focus area, and by working in partnership with the contract parties to ensure these areas are prioritised while remaining sensitive to the needs of the tenants.

Vercity work closely with the maintenance contractor (Wates) and the housing manager (a joint venture between Abri and Southern Housing) particularly where there are points of interface around void management and tenancy changes, arrears limitation and recovery, addressing vandalism and anti-social behaviour and ensuring access for statutory gas and electrical inspections.

Understanding the regulatory environment of social housing is another key area for Vercity’s continued success on the project. Delivered by the Vercity compliance team the Risk Based Monitoring (“RBM”) tool ensures that any delay in gas safety or electrical testing is rapidly identified and escalated. The RBM functionality also ensures compliance for communal areas and overarching responsibilities including asbestos, lifts, emergency lighting and fire doors. Armed with this information the Vercity team can provide assurance to all stakeholders that compliance is being ensured.

Project Impact

The project continues to create a positive impact for the local community, providing thousands of people with homes, while maintaining investor returns.