Board Report

The board is pleased to report on the first 2 years of activity for London District Housing Association (LDHA).

Our first acquisitions in the London borough of Southwark were let in record time due to the high demand. Our decision to charge target rents contributed to us receiving approximately 40 applicants for each property. All our applicants were key worker/BME status. The leading themes that ran through the lettings process were the affordability and quality of homes being offered.

We have had zero rent arrears along with zero void periods. These high standards have been achieved partly due to the high quality of tenant our stringent selection process produces. Our unique management model has also played an important part in these successes. The target rents have been met and are genuinely affordable which has enabled a number of residents to save a deposit leading to them buying properties elsewhere. We have also engaged in a number of shared ownership sales. Enabling tenants to become homeowners was one of the main objectives for LDHA.

Having achieved all performance targets, provided housing for the intended key worker/BME demographic and given our tenants a means of furthering their home ownership prospects it is accurate to say we have fulfilled every aspect of the LDHA constitution.

We took great satisfaction in the results of a recent survey of our tenants. We were complimented on the way in which our properties are managed, the condition of the properties, and (perhaps most importantly) our prompt response when any problems arose.

Based on our consistent and continued ability to satisfy our commitments to our private financiers we have, in the last 12 months, secured further substantial funding. This has enabled us to place over 2,500 units under offer throughout London. Alongside this increased material activity we have been engaging more deeply with housing officers responsible for the inner London boroughs. We have also facilitated a number of meetings with leading figures including Nick Taylor of the GLA. Our unique approach to delivering affordable housing in an innovative manner has been widely welcomed.

London District Housing Association will continue looking for opportunities to grow and develop, forming partnerships with Local Authorities and other local organisations to deliver affordable housing which satisfies the needs of our tenants whilst utilising only private finance and fulfilling the objects of our constitution.