Accurate financial appraisal of your scheme is vital to ensure best outcome whilst meeting local housing needs.
Viability by tenure, dwelling and scheme. NPV and long-term cashflow displayed instantly.
Assess land values and gross profit with minimal information.
Housing developers have a broad range of challenges that are often difficult to meet. There are complex internal and external processes that change as new regulations are introduced.
Our network of experts cover all areas of housing, offering consultancy, mentoring and training for both social and private development.
Effective project management will ensure that you monitor development cashflow, workflow and people.
Monitor your entire programme. Keep track of budgets, manage workflows and compare estimates to actual spend.
Industry standard procedures ensure you comply with all regulations.
Achieving best value is essential for your organisation. You must demonstrate continuous improvement and show how you compare with your peers.
Measure performance with online scheme reports. Annual written report indicates progress against a variety of Key Performance Indicators.
Social Housing landlords in today’s market must understand the economic value of their properties.
Analyse your entire portfolio to see which units are most valuable and which need to be considered for a change of tenure or sale.
With buyers and tenants eager to find homes, you need to find them the right property.
Associations can pool lists of prospects against available properties and augment with soft data to rank applicants for the best match.
Benchmarking is important to compare performance and review efficiency; it enables comparisons to be drawn between you and similar organisations. Using benchmarking to drill into the strengths and weaknesses of your organisation enables smarter decision making, improved efficiency and enhances lean processes by reducing anything that is not adding value.
Within the social housing industry, competitive advantage is not the key driving force; however, the intelligence gathered from benchmarking should be utilised to identify gaps in processes where the organisation is not performing as well as its peers. (G15 compared to small northern housing associations would not give an appropriate view as you will not be facing the same challenges).
To effectively benchmark, regardless of metrics, the organisations you are comparing your results with should have similar characteristics: a similar number of units, region, rent price etc to ensure a fair comparison.
Prior to 2015, entities regulated by the HCA had to demonstrate efficiency and found their benchmarking club reports very handy for this purpose. In the absence of that requirement these practices should not be neglected, as significant insight can be gained from these reports and efficiency should always be a key objective for housing organisations.
The key benefits from benchmarking include:
Identify opportunities to develop and adopt best practice
Review potential reasons for differences in performance in your peer group
Drive investigation into processes to improve efficiency
Set new standards
Provide evidence for implementing strategic change
The club must compare you with similar organisations that have similar development programmes as the conclusions drawn from the comparison will be used to give insight into business intelligence.
When making your choice, consider the method of data collection and input as some clubs offer online integrated solutions to remove some of the manual tasks, saving you time and reducing the risk of human error.
There is always the challenge of getting up-to-date data; you’ve got to enter the data to be able to create reports, and there needs to be enough of the relevant information submitted to get a valid benchmark.
To reduce anomalies most benchmarking clubs offer some form of data validation; without this any human errors or unusual numbers can dramatically alter the results, creating unreliable data which cannot be used to benchmark. The data would be submitted and checked by a validator for any irregularities and ask the submitter any questions if there are, once these are resolved this is marked as validated and becomes part of the benchmark. The more data submitted the more reliable and credible the benchmark.
Finally, the delivery of all this information needs to be in a usable format, to compare the data it must be manageable so data can be reviewed. These reports often end up in the boardroom, therefore, all data should be relevant and easily understood without any additional leg work from you!
Remember it's in your organisation’s best interest to be efficient, enable growth and sustainability, which can be maintained and improved through benchmarking.