£3.5m loss for North Lincolnshire Homes – but net assets up by £15m
The region's biggest social landlord, North Lincolnshire Homes, made a trading loss of more than £3.5 million last year after the cost of managing its household stock soared by almost £6 million to £36.05 million.
But the good news for the 9,838 tenants and leaseholders was that the net assets of the non-profit making association increased from £75,295,000 to £90,486,000.
Chief executive Andy Orrey also reported £2.6m worth of savings had been made in 2011-12 – more than double the original target for the year.
Mr Orrey said: "The year 2012 is a big year for us because it marks the end of our first five years as your landlord and gives us a great reason to celebrate some of our achievements so far. Myself and all the team here feel immensely proud of some of the things we have been able to deliver in the past five years.
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"I believe North Lincolnshire Homes is a better landlord because of the committed work that our tenant and leaseholder groups put in to help shape our services.
"As we grow and develop the company in the next five years, tenants and leaseholders will always remain at the heart of the business."
During 2011-12, rent collected from tenants, who pay an average of £71.19 a week, amounted to around £34.3m and arrears accounted for 1.8 per cent of the total bill.
The association tackled antisocial behaviour head-on by increasing the size of its specialist team to six officers.
During the year it dealt with 3,159 complaints, resulting in 25 eviction orders and notices of seeking possession being issued to offending tenants.
A record sum of £13 million was also spent last year on improving the environment, including resurfacing footpaths and roads and building new walls, fences and gates.
More than £4 million was spent on carrying out more than 40,000 repairs in the homes of tenants.
A survey revealed 4,880 of the trust's tenants are aged over 55 and women outnumber men.