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Social Lettings Agency Model

22/02/2016 - Social Lettings Agency Model

Matter for Decision

The Council had been piloting a social lettings (Town Hall Lettings) agency for two years. The report built on the report presented to Housing Scrutiny Committee in March 2015 and aimed to inform Members of the proposed direction of travel for Town Hall Lettings beyond April 2016. The report detailed the outcomes delivered by the social lettings agency to date, covered the proposed role for THL in managing the intermediate market and outlined the business plan moving forward.

 

Decision of Executive Councillor for Housing

  i.  Noted that the proposed role for Town Hall Lettings in managing the ‘intermediate market’ properties as set out in the officer’s report and appendix 1

  ii.  Noted the 5 year business plan for Town Hall Lettings as detailed in appendix 1

Reason for the Decision

As set out in the Officer’s report.

 

Any Alternative Options Considered and Rejected

Not applicable.

 

Scrutiny Considerations

 

The Committee received a report from the Housing Advice Service Manager regarding the Social Lettings Agency Model.

 

Members questioned the 7 year subsidy included in the plan and asked if this had been a factored in to the pilot projections.

 

The Housing Advice Service manager stated that:

 

  i.  An assumption of tenant turnover in the first three years was in line with the experience of the private sector and had little financial impact on the project.

  ii.  Tenant deposits would be held in line with the legal requirements of letting arrangements.

  iii.  Agency fees of 2 to 3% were considerable less that high street agencies that typically charged 10 to 11%.

 

The Committee resolved unanimously to endorse the recommendation.

 

The Executive Councillor approved the recommendation.