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Value for Money

Achieving Value for Money

Achieving Value for Money (VFM) and continuous improvement is a fundamental business strategy for irwell valley homes. We are committed to getting the most out of the money our customers pay in rent and service charges and we are focusing on improving the VFM of our services and making savings wherever possible for re-investment.

We regularly assess the services we provide to see whether we are getting value for money for the goods and services we buy or getting better value for the same cost. We do this while taking customer views into account.

In addition to this, we regularly compare our costs and performance with other housing associations to find out if and how we can improve further.

The Summer Budget in 2015 fundamentally changed our operating environment. The annual 1% reduction in rents over four years means a huge 12.3% reduction in the income factored into our business plan. This is over and above the potential decreases in rental income from the changes in the way benefits are paid and any adverse financial impact of the extension of Right to Buy.

We have reviewed our costs further and have identified £1,166k of savings on revenue and £2,736k on capital that have been planned into the 2016/17 budget.

How is irwell valley homes achieving VFM?

View our Value for Money Strategy

View our 2017 VFM Self Assessment

Our Housemark Peer Group

How can Customers get Involved?

We welcome feedback and suggestions for improvements from our customers to help us measure VFM services. You can:

1. Submit a suggestion:

Any irwell valley homes resident or group of residents can submit a VFM suggestion at any time, by either email to:

Complete the suggestion form below.

All ideas that are recognised as being creative and beneficial to the Association and its customers receive either a cheque payment or rent account credit of £50.00. In order to qualify for the reward, your idea should not have been submitted before and needs to demonstrate:

  • Improving customer service/satisfaction;
  • Eliminating inefficiencies, waste or duplication;
  • Saving money, resources or time;
  • Increasing safety, promoting health or improving morale.

2. Take part in the VFM questionnaire

We adapt our services to meet the changing needs of our customers, while at the same time always aiming to deliver improved Value for Money services, increased performance and customer satisfaction.

To do this effectively, we need to collect customers’ views. If you would like to help us, please complete the form below.

Alternatively you can contact your Neighbourhood Manager who will forward your comments to the VFM team.

Value For Money suggestions