Teign_Annual Report 2018

18 19 Providing opportunity / Annual Report 2018 Economic Charge rent in line with the standards set out by the Government’s direction. We will provide cost-effective, efficient and good quality services and homes and show how we are using our finances to provide good value for money. Universal Credit Universal Credit comes into force in September 2018 for everyone of working age claiming benefits in Teignbridge. When someone’s circumstances change, such as moving home, having a new baby or new care or health needs, they will need to apply for Universal Credit. As of the end of the financial year 2017/18, we had 25 customers who were claiming Universal Credit. There is a five-week waiting period between a successful claim for Universal Credit and the first payment. So, we’ve been working hard to ensure affected customer are prepared for this delay. The best way to prepare is to start paying rent now in advance; 69% of customers now do this. Rent collection rate As a not-for-profit organisation, rental income is ploughed back into building new homes, maintaining existing homes and delivering services. It is vital that we collect the rent due to us. This year we collected 101.46% of rent due, this is over 100% because we had collected a significant amount of rent arrears on top of the ongoing weekly rent charges. We also ensured that any resident who had made an historic overpayment received a voluntary repayment back to them. In 2018/19 we will: Launch a new technology system, Civica CX, to make us more efficient in how we work, and also offer greater opportunities for customers to use digital tools to access our services. This will also boost our mobile working Reduce our office space to reflect moremobile working, therefore saving rent and other costs which will be reinvested into homes Launch paperless Direct Debits, offering customers more choice on how they pay their rent and greater flexibility on payment dates £ At a glance We collected 101.46% of rent 69% of our customers pay their rent in advance 25 of our customers are claiming Universal Credit We are preparing to launch a new housing management system £ £ For more information on how we provide value for money, read our statement online