Monday, February 06, 2012
Boston Mayflower
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Policies and Performance

 

Policies:

 

We have 2 main policies which outline how our income management service works:

Rent setting and service charges

Income management (Rent collection and arrears)

 

These policies are reviewed on a regular basis. Copies are available on request.

 

Performance:

 

We are continually striving to help our customers stay out of debt and to drive down rent arrears. Our performance over the last 5 years can be seen in the table below.

 

Financial Year

Arrears

 as % of rent due

 

2006-2007

 

2.11%

 

 

2007-2008

 

1.54%

 

 

2008-2009

 

1.36%

 

 

2009-2010

 

1.00%

 

 

2010-2011

 

0.9%

 

 

 We have achieved these figures through introducing:

- a wide range of payment methods

- benefit and debt advice

- a floating support service for particularly vulnerable customers

- a debt recovery team

- a firm but fair approach to arrears

 

We aim to continue developing and improving our income management service  for the benefit of our customers and so this year we have:

  • started quarterly prize draws to reward those paying by Direct Debit and those who pay their rent promptly in advance
  • set up a Money Matters Service in partnership with Boston Citizens Advice Bureau and Linc-up Credit Union to provide our customers with guidance on money management and access to saving schemes and loans.