For full details read our newsletter here or read the following summary:
The decisions we make about your rent, and how we spend the money we collect, are extremely important. There are several issues we need to consider in setting rent levels. We need to:
- ensure sufficient funds are available to help us deliver our obligations to you under your tenancy agreement
- invest in and maintain the quality of our houses, your homes, meet Health and Safety Standards, our own Homes Fit for 21st Century Living Standard (HFF21CLS) and Scottish Government standards
- ensure our services perform well, meet your needs and are improving
- meet our legal, financial and regulatory obligations so the business thrives
- consider how we can balance all of that with making rent as affordable as possible to our tenants
We continue to prioritise the delivery of our HFF21CLS programme and we are still planning to deliver the remaining phases of work, at a total estimated cost of £8million, over the next few years. We are seeking additional loan funding to make this possible but we think that investing in improvements in tenants’ homes is the right thing to do.
Inflation has risen sharply in recent months, affecting the cost of food, gas, electricity and other household costs, and it may remain high for some time to come. As landlord and social business, Atrium is not exempt from the effects of inflation and we are seeing our own costs rise, particularly those related to investment in your homes.
We control our direct costs where we can and we have made savings in some of these areas. We have made adjustments already in our Business Plan and will look to make more to keep costs as low as we can without compromising on service standards and investment. Unfortunately, we can’t control or influence all our increasing costs but we have absorbed as many of these costs as we possibly can.