Weslo Housing Management (including its subsidiary Weslo Property Management) has recently completed an in-depth strategic review of Weslo. This appraisal has now been completed and I now wish to let our social tenants and other customers (factored owners, Mid-market and Market renters, and private landlords) know about the findings.
The stock condition survey carried out in 2019 identified that our social rented properties require a large amount of investment over the next 30 years. We also know from our recent tenants satisfaction survey that many of our social tenants are unhappy with the condition of their homes. The review found that Weslo cannot afford to make these improvements and continue to keep rents at an affordable level.
We looked at a range of options for the future to ensure that the homes and services can be improved whilst keeping your rents affordable. The Board reviewed these and after careful consideration it was decided that the best option for Weslo and Weslo tenants is to transfer all the Weslo homes and services to another financially strong, stable, experienced social landlord who can deliver the improvements needed. This way we can guarantee that the homes and the services provided will be improved in the long term. We are now seeking an established social landlord as a partner for the transfer. We will be working with the chosen partner over the summer to develop a detailed Business Case.
For our social, mid-market and market rent tenants this option means that all their rights and security remain exactly the same, and Weslo will make sure there are legal agreements with the new social landlord to deliver the property and service improvements needed. Because Weslo is a Registered Social Landlord, the social tenants have the final say on the proposal – there will be a period of consultation over the Autumn so that tenants can shape the Business Case, and then a secret ballot later in the year so that Weslo social tenants can decide if they wish to transfer to a new social landlord.
It is important to stress nothing is yet agreed with any proposed new landlord. Only Weslo’s social tenants can decide the future of Weslo.
The Board have been working hard with the staff to secure the best possible future for Weslo and your homes and firmly believe that this decision is the right one for Weslo and your homes. Together we can look forward to brighter times ahead for the Weslo community.
In the meantime, please let us know if you have any questions through firstname.lastname@example.org
Kate Dewar, Chair, Weslo Board