Introduction to 8 Asset management For most housing associations and other social landlords, a high proportion of their homes could reasonably be described as core stock. The homes are of good quality design and construction, and there is strong demand for them now that is likely to continue into the foreseeable future. These are the successful homes and neighbourhoods desired by tenants and landlords alike and as assets they dominate the financial flows in the business plan. These properties need to be looked after as both assets of capital value and, of course, as tenants’ homes. They should be increasing in value to the housing association through being run as efficiently and effectively as possible while accommodating tenants’ needs. Because of their scale and the scope for value gains through efficiency, these are often the homes with the greatest potential for ‘getting more out of what you’ve got’ - for the benefit of residents, neighbourhoods and future customers. This approach requires a significantly broader data set than when assessing conditions. It involves an understanding of current and future demand, current operating performance, responsive repair costs, general costs and income at a granular level, socioeconomic conditions, resident aspirations and levels of expectation. In the course of this chapter we will be exploring the best way to get the most out of core stock and will be aiming: l To provide guidance on drawing up an active asset management strategy. l To offer advice on the factors to consider when deciding to keep or dispose of stock. l To provide case studies highlighting different approaches to management and disposal.
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