Liverpool Mutual Homes (LMH) have created efficiencies, driven down arrears and helped reduce the impact of Universal Credit (UC) on their residents by investing in Mobysoft’s RentSense application.
LMH have around 15,000 properties in Liverpool and they were being impacted by welfare reform which was affecting their tenants’ ability to pay their rent. This had also been compounded by the transition to Universal Credit, as residents were having to wait up to seven weeks for their first UC payment, meaning many went into arrears in the intervening weeks, as they were unable to pay their rent. Moreover, for the LMH income team this meant a rising workload and greater case complexity.
To counter these issues the Liverpool based social landlord invested in RentSense, a predictive analytics solution. As they were keen to ensure that their income officer’s caseload was accurate and also flagged cases for action at the earliest possible stage, as their existing systems was both missing cases and recommending cases that needed no action.
“It (RentSense) is really important, as it is improving rent collection and we are picking up cases at a much earlier stage, so we get them before the debt is unmanageable for the tenant and are in a position to resolve the issue, at the earliest possible stage,” explains Elaine Ball, income manager at LMH.
By catching cases early it means that LMH does not tie up additional resources as the case does not become more complex, and according to Elaine:
“This is helping us sustain tenancies as well as freeing up capacity with the team.”
After just nine months of using RentSense LMH have achieved some stellar results, as Elaine testifies:
“There has been a reduction in current tenant arrears and an increase in rent collection.”
Since investing in RentSense LMH have achieved their lowest ever rent arrears and increased their collection rates by around 2%, rising from 98.25% to 100.12%, and in that time their arrears have fallen by 15.9% which is £588,336.
According to Elaine “RentSense has improved our rent collection performance by reducing waste and inefficiencies. The implementation process was straightforward, the product is easy to use. In addition, there is continued support with use of the product to maximise performance.”
To find out more about how RentSense has helped Liverpool Mutual Homes read their case study by clicking on this link