Octavia, a London affordable homes provider founded by the social housing pioneer Octavia Hill, has reduced its arrears by over £220,000 with help from RentSense.
Octavia has around 5,000 properties, predominately in central and west London. They have used RentSense technology to embed efficiencies in the income collection process to help give their income officers more time for tenants that may need additional support.
Octavia Income Manager Dan Thwaites said: “RentSense enables us to better manage and keep on top of our rent payments status, which has helped the team. Alongside this we have improved our procedures and processes to prioritise rent payments and the team work hard to keep in communication with, and support, people living in our homes. This has helped Octavia achieve its best performance in the last 20 years.”
“Our first priority is always to do what we can to support tenants to sustain their tenancy but we also encourage them to understand that meeting their rent payment is a priority.”Highlights Income manager at Octavia, Dan Thwaites.
This approach has helped improve Octavia’s performance. In the 18 months to March 2019, Octavia’s arrears fell from 4.7% to 3.93%. By December 2019, arrears were reduced to 3.6%
“The unique technology that sits behind RentSense gives landlords an accurate arrears caseload in the priority order that suits their processes. In turn this has enabled the income team at Octavia to achieve some great results, it’s their hard work that has helped them reduce arrears and carry on sustaining tenancies,” commented Paul Evans, Director at Mobysoft.
“RentSense has helped us reduce arrears and it gives the officers the right cases in the right priority:” Concludes Dan.