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August 2023 - Housing

A third of housing associations are introducing hardship funds for tenants: A survey of housing associations has delivered insight into the pressures facing the sector, with a third revealing that to help with rent arrears they are introducing hardship funds for tenants (32%). 

The survey by data analytics company, Mobysoft, which has more than 170 housing association clients, polled 100 senior housing association executives, also finding that more flexible payment plans or other supportive incentives such as temporary pauses or 'holidays' from rent or service charges have been introduced (33%), with 29% also revealing they are in partnership with foodbanks to help support tenants who are struggling financially. 

The research revealed that two-thirds of respondents reported there being more tenants currently in arrears than there were during the Covid-19 pandemic. Associations have also been supporting tenants in other ways including providing financial guidance (46%) and helping people to develop skills and prepare them for job opportunities, which they connect them with (36%). 

When asked about the key challenges facing tenants currently due to the cost of living crisis, income collection and rent arrears were both cited by respondents, as well as the social housing rent cap and the wider economic picture for the country. 

Two-thirds of respondents said that in the coming year they will be building more homes than they did pre-pandemic, with accessing land for development and meeting housing needs the top priorities cited. However, the report suggested that based on the investment plans of housing associations for the year ahead, managing existing properties was far more likely than building new ones. Repairs and maintenance, supporting residents and tackling mould were mentioned more as top investment priorities than building new affordable housing, found the survey.

Strategic director at Mobysoft, Julie Lorraine, said: “Housing associations are under mounting pressure to invest in improving existing homes, including sustainability upgrades, while also continuing to deliver more new homes.

“At the same time, the cost-of-living crisis is putting their main revenue stream – rent collection – under pressure  as increasing numbers of financially vulnerable social housing customers start falling behind on their payments.”

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