Building A Brighter Future For All
Westminster Community Homes (WCH) was incorporated in December 2009 as an Industrial and Provident Society (now Co-operative and Community Benefit Society) which is a company with charitable aims.
In December 2010 became a Registered Provider (RP).
WCH status has changed since last year as it moved from having an independent status and subsidiary of Westminster City Council (WCC), to being wholly controlled by WCC with effect from 2 May 2018.
WCH has 3 shares (1 held by WCC as a corporate body, 2 held by two individuals who are both WCC Officers who hold the shares in trust for the City Council). This is simply to comply with the Cooperative an Community Benefit Society rules that require any body to have a minimum of three separate shareholders. All members are nominated by WCC.
The amended rules which brought these changes into effect were registered by the Financial Conduct Authority on 2 May 2018.
Westminster Community Homes has two core competencies which enable us to provide the types of homes that meet the aspirations of residents and the City Councils needs
We use our local knowledge and specific skills in order to play a key role in the delivery of the Housing Renewal Programme and wider City Council housing strategy through the provision of additional affordable housing.
We understand the challenges facing residents and find solutions to the housing need demands facing the City Council
Value for money
Value for Money ('VfM') for Westminster Community Homes means that:
We are fulfilling our key role in support of the delivery of the Westminster City Council Strategic Housing programme
We have a large majority of satisfied customers
We are financially sustainable
In order to demonstrate value for money we have metrics which can show that we are achieving the above. We aim to ensure that we are making the best possible use of our assets to meet our objectives.
2. Mission and Corporate Objectives
Our mission is to support Westminster City Council in its delivery of the Strategic Housing programme and to provide quality homes at rents that tenants can afford.
We remain one of the last Westminster providers delivering affordable housing at social housing rent levels, rather than introducing affordable rents. This allows us to provide decant opportunities for tenants affected by regeneration as their new home will be on broadly the same rent levels.
The Board accept that charging social rent levels does not levy the maximum return for the properties but this is a deliberate startegy in line with our organisational aims.
3. Customer Satisfaction
WCH carries out a regular costumer satisfaction survey. The questions are based on the survey used by the City Council which allows WCH to directly compare results.
In addition to the Residents satisfaction survey we also measure a number of key performance indicators (KPIs) throughout the year. The KPIs include a measure of the number of repairs completed on time. Completing repairs on time means that value for money is delivered by reducing the number of visits and ensuring a right first time culture is embedded in the repairs team which benefits our residents.
4. Financial Stability
There are two main financial key performance indicators which are assurances for stakeholders that the organisation is financially sustainable and will continue to be so.
The average interest rate for loans must not rise above 6%. Interest cover must not fall below 125%. This is to ensure that WCH always has sufficient income to meet its lender requirements.