Resident Resilience Insight

Measure the impact of rent increases
on your residents amid the cost-of-living crisis

What if you could understand the impact of rent rises on your residents – as a group and at an individual level? And what if you could model the potential changes in arrears and service demand that those different rent rises would have? Our Resident Resilience Insight tool allows you to do just that, enabling you to identify those residents who might be in need of an intervention.

 

Model and understand the impact of different levels of rent rises on your residents

Now's the time to measure

The first iteration of the Resident Resilience Insight tool is now available.

The development of the tool has been accelerated following requests from housing associations to be able to model the impact of rent increases not only on their residents, but also how that results in increased interventions from more people falling into arrears and more people wanting to contact their landlord.

With Resident Resilience Insight, you simply upload your data and then use the tool to model different scenarios to produce a RAG rating of their level of resilience.  You can then request a report and use the outputs to:

  • Predict future demand
  • Inform financial planning and business decisions
  • Measure impact
  • Identify those residents most in need
  • Optimise resident experience

Model the impact of a rent increase

The tool focuses on the financial resilience of residents, so HAs can model and understand the impact of different levels of rent rises on their residents. As well as enabling social housing associations to understand the impact it will also provide critical information about arrears levels (and therefore rental income) and future service demand (and potential costs) so you can understand the potential increased interventions required.

 

After uploading your data, we will be able to map residents into a cohort created from the three factors shown below. Each of these cohorts has a different resilience rating which can be RAG rated. Using the tool, you will then be able to model the impact of different levels of rent increase on your residents through the movement of residents, you will be able to see:

Dependency on state benefits

The impact of different levels of rent increase on the resilience of your residents

Rent arrears

How many residents are moving into higher levels of arrears, thereby impacting your potential revenue stream

Frequency of contact with HA

How many residents are moving into higher levels of contact frequency, thereby providing you with forewarning about the impact on your customer contact centre

How much does it cost?

The annual subscription cost of for the Rent Module of our Resident Resilience Insight tool is £750+VAT which includes unlimited users in your organisation.

Your data and the Platform

Collecting your data

We know accessing this insight is time sensitive, but to ensure the data is effective you may need to collect more detail than you have to hand.

What will I need?
We know protecting your residents data is important and in this module of the tool you will be uploading household data such as rent type, arrears amount against a unique identifier which will create an anonymised file. The data you upload into the tool cannot be to personally identify residents. To help you collect the data required as soon as possible, here are the different data sets you will need for each individual resident in your customer population:

GUID - Organisation specific unique identifier linked to an individual resident/household.
Rent type – individual resident’s rent type
Arrears – individual resident’s current arrears amount (£).
Recovery percentage – individual resident’s benefit percentage
Contact frequency - total number of customer contacts from individual resident between 01.02.22 - 01.08.22.

Accessing the platform

We’re really proud to have turned this product around so quickly to help your organisation gain valuable insight into the impact on your residents’ resilience in a range of rent increase scenarios.

Once your payment has been made, you will receive a notification that your account has been activated within one working day. You will be sent and email of how to access your account via the HACT platform.

To ensure your data can be analysed in the tool you need to use a file template available in the platform to upload your data on residents

Once you have submitted your data, you can request your reports which will show the scenarios you have submitted. An excel download will also be provided for you to review individual resident data.

This is just the start

Working with partners from across the sector, we will develop further iterations of the tool that will enable organisations to measure the impact of different factors on the resilience of residents: basic needs; core self; health and wellbeing; education, training and skills; social connections; and access to services and support. Simultaneously, we will also be engaging with residents through social housing associations and other partners to test the veracity of the assumptions that we have made in developing the resilience model.

Find out how to get involved

Buy your subscription

Want to get access to the Resident Resilience Insight tool?

Simply get in touch with Lara

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