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Rooftop Housing Association

Tailored Financial Review

The Organisation

Rooftop Housing Association (formerly Evesham and Pershore Housing Association) was formed in May 1993 to accept a transfer of 4,020 homes from Wychavon District Council in South Worcestershire that took place in October 1994. In 2003, Rooftop Housing Association sponsored the formation of the Rooftop Housing Group. Their stock of homes has grown by 50% and all meet the Government’s Decent Homes Standard or above.

Rooftop now have approximately 7000 homes. They enjoy high levels of satisfaction from their residents and key stakeholders value their success at finding solutions for complex housing issues.

The Requirement

Rooftop wanted to review their performance and analyse what areas of the business were doing well and where they could drive further improvements to ensure financial resilience, customer satisfaction and that they were on target with their corporate plan.  Alongside an individual financial review, the process serves as a reflection exercise and facilitates a comparative insight for the executive team, chief executive and the board.

Rooftop commissioned Vantage to undertake the analysis work based on their sector knowledge and consultancy skills, utilising their online peer analysis tool and tailored financial report service. 

The Benefit

“We commissioned Vantage to help us with our VFM reporting and peer analysis.  Gaining access to data is always problematic and time consuming but Vantage were able to turn this around in a matter of days.  They produced an intelligent tailored VFM report and valuable insight into our performance which prompted many discussions on sector best practice.  The analysis work has shown us that our performance levels are really strong, and we are on the right track to meet our corporate plan.”  

Caroline Dykes

Finance Director, Rooftop Housing Association

Project In Detail

The Analysis:

With an aim of driving further improvements, Rooftop commissioned Vantage for their online peer analysis tool and tailored financial report service. 

Vantage used their sector knowledge, consultancy skills and online peer analysis tool to select Rooftops peer group based primarily on geographical location, applying parameters of stock size range up to 10,000 units, and a stock similarity range of >80%. This narrowed their peer group to 6. 

The Vantage peer analysis tool mapped Rooftop against its peer selection across headings including Headline Social Housing Cost Per Unit, Operating Margin and Repairs & Maintenance spend. 

Within the Headline Social Housing Cost Per Unit review, Rooftop ranked in 2nd place with an average of £3,000 per unit. 

Rooftop ranked 1st place for Operating Margin at 46.7%, achieving one of the highest margins in the sector, alongside just 14 peers in the top 140 providers.  

The analysis also shows VFM metric comparisons against the 6 peers and against the top 150 RPs in the sector.