The Future: Our 2020 Vision
To make the very best use of our resources so we can provide new affordable homes and a fair deal for existing residents.
Paradigm exists to help people who are not getting a reasonable deal in the housing market. We are a charity, so we don’t distribute profits. We re-invest every penny we make in housing.
We operate in high-value markets where average house prices are up to 14 times average earnings, and options in the private rented sector are expensive and insecure. As a result, a large and growing proportion of the population is not adequately housed. This is reducing life chances, and puts at risk the economic success of the area.
We already support around 14,000 households with offers that include social and affordable rent, shared ownership and schemes that prevent homelessness. We will continue to offer these residents a fair deal, providing good quality and responsive services tailored, when necessary, to the needs of the vulnerable.
In return, we expect residents to meet their side of the bargain. This means paying rent on time, behaving responsibly (and with consideration for others) and looking after our property. Most residents behave well, and this means that Paradigm can keep down costs so we have more resource to help others. Where they do not, we will take swift and decisive action, and recover costs where at all possible.
In the areas we serve there is an acute housing crisis. As a result, it is absolutely imperative we make the best use of our resources, to help those that need our support. This means that:
- We will stay financially strong: We know that without a stable financial position we will not be able to help new residents – and we will not put the homes of existing residents at risk.
- We will run an excellent business: Using commercial disciplines, and continually striving to deliver efficiency improvements. We will attract high quality staff, invest in their skills, and hold them to account for effective delivery.
- We will make the very best use of our existing asset base: We will have a clear asset management strategy, and sell or convert stock as and when we can get better value in doing so.
By managing our finances well, and driving value in the business, we will be able to invest in new homes. We will continue to offer a range of tenures, including shared ownership and some social and affordable rented housing. To adapt to new and more challenging funding conditions we will also explore building homes for rent outside of the social sector, and when it makes commercial sense, outright sale.
Our financial strength will also enable us to support our customers and invest in local communities, through the Paradigm Foundation. Through the Foundation we will help residents into work, education and training; invest in community projects and support those facing hardship, working with and through our partners.