Erimus Housing reports 'excellent' results with Orbis Risk Management
Erimus Housing, the main provider of affordable rented accommodation in Middlesbrough, reports 'excellent' results from Orbis Risk Management for voids since it came in to operation in April 2005 under a new partnering arrangement.
The service, which is procured through the Northern Housing Consortium, provides insurance cover against damage to empty properties secured by Orbis. This helps to minimise the cost of vandalism and theft and removes the inclination to over secure.
Now if the security is breached and thieves take, for example, the heating system from a house, the Risk Management agreement would ensure that the cost to Erimus was minimal. The insurance policy would cover the cost of a new high specification boiler as well as the rent loss.
Erimus Director of Housing, Susie Thomas said: "The decision to move towards a risk management approach has been very positive. The reduction in voids in the first few months has been excellent."
An Erimus Housing Management Committee report highlights the achievements as:
- A 40% reduction in the use of steel screens on relettable voids - on target for a 50% reduction in the first six months
- A reduction in relettable voids from 228 in February to 126
- Re-let times halved
- A reduction in security costs and rental losses due to there being fewer empty houses
Two years on, and the performance is still improving. In its latest Operations Committee Report (2007), Erimus reported a 48 per cent reduction in visible security on properties, by using clear polymer screens and net curtains at the front instead of steel screens.
The scheme has been given a vote of confidence buy tenants, many of whom have already appreciated the decrease in the use of steel screens.