The Case for Active Asset Management in Social Housing

Friday, April 16, 2021

The problem with the term ‘asset management’ is that it can feel a bit passive. It implies ‘keeping an eye on things and dealing with whatever comes up as efficiently as possible.’ The world of social housing is too demanding and dynamic for that to be the right approach.

Today’s registered housing providers need something much more active – a service that reflects the value and reassurance that well-run asset management brings.

The biggest priorities at the moment are Fire Risk Assessment (FRA) works and decarbonisation of the housing stock. It almost goes without saying that there are significant risks and costs associated with each one. They are probably near the top of every registered provider’s risk register.

These priorities sit alongside all of the other requirements from property services. These include enhancing the value of the stock through scheduled upgrades, running efficient reactive maintenance services and minimising voids.

‘Routine’ but Still Vital

Emerging priorities don’t make the ‘routine’ items any less important. An efficient repair service and the quality of homes are major drivers of resident satisfaction. And no housing provider can ignore the reality that some legal firms see disrepair claims as an important revenue stream.

A responsive, efficient and well documented repair and maintenance service is probably your best defence against the time and potential costs of defending claims. It’s always better to stop potential claims at source so that residents are happy in their homes and more resources can be directed to expanding and improving the housing stock.

Asset management has to be active and strategic. The list of requirements and expectations is too long and demanding for anything else to be sufficient.

Part of the solution is to make the service increasingly digitally-enabled. Technology can streamline the reporting of repairs, communication with residents, workflows and logging of completed works. Technology is also the key to compiling detailed asset condition data in a way that is easier to share and use.

With so much to be done, we need a clear picture of where we’re starting from so that budgets and resources can be properly focused.

Osborne sees its role in property services as being a proactive partner; helping to deliver the strategic priorities of registered housing providers. This involves much more than the word ‘management’ implies.