new models in the financing and provision of social housing · new models in the financing and...
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![Page 1: New Models in the Financing and Provision of Social Housing · New Models in the Financing and Provision of Social Housing Irish Council for Social Housing 17 th September 2009. Mr](https://reader034.vdocument.in/reader034/viewer/2022042217/5ec1d56788f0bb05957082e3/html5/thumbnails/1.jpg)
New Models in the Financing and Provision of Social
Housing
Irish Council for Social Housing
17th September 2009
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Mr Sean O’Connor
Director
Helm Housing
Biennial National Social Housing Conference 2009
Playing our Part
Leasing: A Housing Association
Perspective
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“May you live in interesting times”
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Two roles for VHAs
� Managing Agent (HAMA)
� Leasing Agent (HALP)
3 Key Issues:
�Public Relations
�Financial
�Legal
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Financial Considerations
� VFM ethos – not for profit
� Unsold affordable (HAMA) - shared risk basis
� HALP - rent paid to lessor by VHA / reimbursed by DOEHLG
� Service Charges paid by lessor
� VHA deduct service charges from rent (if lessor defaults)
� Differential rent for tenant / low differential service charge
� M&M fee’s optionaldfchNotNNoNot for profit but nr loss
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Legal Considerations
� Lease / Availability Contract / SA contracts – Consistency!
� Tenancy agreement (non-secure)
� 100% noms from LA waiting list / Choice based lettings
� Council Consents & Standing Orders
� Tenant / Incremental Purchase / VHA Purchase Options
�Defects / Collateral Warranties / Dilapidations
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Housing Association Managing AgentRelationships between Partners
LOPERHELM
LOCAL AUTHORITY TENANT
Eventual Re-housing Responsibility
ServiceAgreement
Tenancy Agreement
DOEHLG
Finance
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Council Tender – D&B Scheme
� 70 apartments� Mix of RAS & Social units� Qualitative/Quantitative competition� Service level agreement� Tendering/cost transparency/VFM� Helm manage at cost / low M&M fee� Differential rental income� Resident Caretaker
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Westmeath County Council Affordable Housing Management Pilot
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Offaly County Council TenderDispersed Part V Stock & Possible Private Leasing
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Part V Linkages
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Permanent ‘conversion’to Social Housing
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Private Leasing: Key Messages
� PPVP: Public, Private, Voluntary Partnership
� 3 key strands to proposal:
1. Procure properties from open market
2. Property owner enters lease with VHA (10 – 20 years)
3. VHA manage properties via an SA with Council
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What is HALP?
� HALP: Housing Association Leasing Programme
� Split repairing lease; developer external/structural: VHA internal
� Developer insures building: VHA - PL/EL insurance
� For tenants it offers quality homes, quality service and choice
� Scheme will help to build mixed and sustainable communities
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HALPRelationships between Partners
LANDLORD/DEVELOPERHELM LANDLORD/DEVELOPER
LOCAL AUTHORITY
Lease
ServiceAgreement
TENANT
Tenancy
DOEHLG
Availability Agreement
Nominations
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Castlepollard Private Leasing – Family Scheme
� 22 terraced and semi-detached houses
� Lease Term: 20 years - Split repairing lease
� Market Rent Comparable: 20% below
� Differential rent to tenant
� Scheme Type: RAS/Social Housing
� Purchase option for all units
� Part V purchase option via VHA / private finance
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AthyPrivate Leasing – Sheltered Housing
�30 bungalows
� Lease 10 years - Full repairing lease (Developer)
�Open Market Rent 22% below OMV min
�VHA income : Differential rent
�Small service charge to tenant (€5 pw)
�Option to buy for VHA
�Nursing home services - optional
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County LouthPrivate Leasing – General Needs
� Dundalk
� 10 houses (incl. 2 Part V)
� Drogheda
� 12 x 2-bed apartments
� Carlingford
� 10 x 3-bed houses
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Additional Delivery
� Build & Lease Back (VHA)
� Build & Lease Back (Developer)
� Buy & Lease Back
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3 essentials for success
� Partnership
� Planning
� Communication
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Irish Council for Social Housing
Biennial National Social Housing Conference 2009
Delivering Housing Solutions for a New Era