1. Conditions
Sarah Rowe – Senior Policy Officer
How can we access PRS properties which are affordable but are also of a high standard?
The private rented sector – A home for all?
Wednesday, 02 November 2016
#ahomeforall
Ben Beadle – Tenancy Deposit Scheme
Rachel Chiu / Dominic Bradley – Spring Housing

2. Crisis Private Renting Conference 2016
Presentation By: Dominic Bradley, Rachel Chiu
Date: 2 November 2016
Registered office: Spring Housing Association, 16 Commercial Street, Birmingham, B1 1RS E:
Web:

3. About Spring
Spring Housing Association is a newly formed Housing Association. We are coming up to our 2nd Birthday. The purpose of Spring is to go back to the original ethos of the housing association movement and work with those most in housing need.
Aims and Mission Statement
To provide high quality accommodation for people in housing need
To prevent and reduce homelessness
To assist people on a journey away from housing need towards a future of stability, happiness and independence
Mission Statement
"To create long term prosperity by investing to prevent homelessness and Social Isolation”

4. About Spring
Set up as a housing charity to work with people who are homeless or at risk of homelessness.
We have 374 units of accommodation, from HMO’s to 5 bedded homes.
The accommodation is a mix of new build and refurbished stock.
Based in West Midlands (started in Birmingham).
89% of our accommodation is sourced from the private sector.

5. West Midlands Landscape.
Population of 4m with 1.7m homes.
Average annual earnings of £23,936
Average House Price £187,000
Income required for an 80% mortgage is £42,800.
9.3%unemployment in metropolitan areas.
Huge variation in private rented market- rents and quality.
Over 260,000 housing association rented homes.
Some councils have a house building programme.

6. The Birmingham Position
150,000 additional people and 89,000 additional households by 2031.
New Homes completions in Birmingham have fallen from 4,000 in to 1,809 in
Insufficient supply from Registered Providers and the PRS sector.
Housing Waiting lists at 21,000 with over 1,500 households in temporary accommodation.
Young City should be an advantage but welfare reforms very challenging for under 35’s.

7. Spring offer to Tenants
Quality accommodation, the majority of which comes fully furnished.
We provide tenancy sustainment support which includes social, health, economic wellbeing
Mobile IT training suite
Support with Move on into either our accommodation or other providers.
Rent relief fund for people who gain employment/ who are employed.
No deposit
We will consider peoples personal circumstances including rent arrears.

8. Engagement with the private sector
Our sector can often demonise the private sector.
We engaged with perspective landlords for 18 months before we started trading.
We talked business to business. Gained a clear understanding of their financial requirements. Returns are their primary focus, not our charitable aims.
Worked on individual business plans with landlords.
Landlords understood our requirements and specifications for HMO’s

9. Landlord incentives The receive a guaranteed income every month.
We manage all voids and income collection.
Maintenance is managed by us including all building safety checks and annual servicing.
After lease period is over the property is handed back in its original condition. Thus they can be confidently invest in the refurbishments knowing this.
The financial modelling demonstrates that is just as profitable to rent to us using this model as their other ways of working.

10. Examples
Adam and Eve

11. Rookery Rd

12. New Leaf Partnership

13. Conclusion Don’t compromise on quality.
Be flexible in terms of leasing arrangements.
Show perspective landlords around your current properties it builds confidence in you and establishes your standards.
Important that landlords see a return on their investment.

14. Any Questions?

15. End of Presentation