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Early Impacts of Welfare Reform on rental income and arrears. Kirstie Corbett 17 Feb 2014. Methods and Measures. Quarterly online survey All Scottish Registered Social Landlords (RSLs) and local authority landlords Rental income for financial year 2013-14 - PowerPoint PPT Presentation
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Early Impacts of Welfare Reform on rental income and arrears
Kirstie Corbett17 Feb 2014
Methods and Measures• Quarterly online survey• All Scottish Registered Social Landlords (RSLs) and
local authority landlords
• Rental income for financial year 2013-14• Arrears as a percentage of rental income• Challenges • Actions
• Seasonal variations (March, June & Sept)• Changes over time (2011, 2012 & 2013)
Arrears – all landlords at September
Arrears – seasonal pattern for RSLs
Landlords’ estimates of impact
Cash value of impact
Total cash value of direct arrears = £4.86 million (for 113 landlords)
Over 80% of landlords have
reviewed their budgets or revised their business plans
Over 90% of landlords are working to identify and engage
directly with vulnerable tenants
Over 60% of landlords have
appointed new staff specifically to deal with Welfare Reform issues
All landlords are focusing on actions to
advise and support tenants
Existing financial
constraints
Concerns over rental income and financial
health
Pressure on staffing, IT
systems and resources
Increasing Arrears
Key FindingsJune 2013 Sept 2013
Overall % arrears = 3.97% Overall % arrears = 4.43%
Total arrears = £63.1 million Total arrears = £72.6 million
77% landlords estimate up to around 10% arrears from Welfare Reform
66% landlords estimate up to around 10% arrears from Welfare Reform
Local authority landlords report higher % arrears and estimated impacts arising from Housing Benefit reductions
For individual RSLs – 64% saw increase in % arrears from March 2013 levels
For individual RSLs – 49% saw increase in % arrears from march 2013 levels
Landlords broadly confident in their estimates of Welfare Reform impacts