Housing Revenue Account Business Plan

The Housing Revenue Account (HRA) Business Plan provides tenants, the Council and it's partners with direction and priorities for how it manages social housing in Cornwall.

The HRA Business Plan is produced in consultation with Elected members and tenants, and outlines the responsibilities of the Council, partners and landlord including:

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  • the way we finance landlord and tenant services.
  • financial advice to inform the Council's strategic housing role.
  • the way we manage housing and resources to meet demand, invest in new houses and maintain our existing housing stock to a high standard.
  • provides tenants with the standards we will meet on performance and value for money

Cornwall Council owns approximately 10,500 homes. In April 2012 the Council created Cornwall Housing Ltd (CHL) to manage these homes using the HRA budget. The HRA Business Plan provides CHL with the strategic direction for landlord services; enabling the company to deliver improvements to homes and services in accordance with the priorities of tenants and the Council.

The HRA's income comes from rent and service charges paid by tenants. The income received into the HRA must be managed to ensure the Council can provide tenants with well maintained and managed homes now and into the future.

The HRA Business Plan is the main tool to manage the housing landlord business, setting the priorities for spending and the plans and actions for the Council housing over the next 30 years. The Business Plan demonstrates that we can maintain our existing housing assets, build new homes and meet the tenants needs in providing quality services.

In April 2012 the Government ended the Housing Revenue Account subsidy system. This means Cornwall Council can now keep rental income and use it to fund housing stock (called 'self-financing'). The HRA Business Plan ensures that priorities for self-financing are affordable and deliverable.

The main priorities of the business plan are:

  • The delivery of the Cornish Housing Standard within 5 years.
  • The delivery of 188 new affordable homes.
  • The remodelling of olders persons accommodation.(changing existing accommodation to make it fit for purpose for our older people or where there is no longer a demand in an area, change the use for alternative need for example general needs accommodation) 
  • Services continue to be delivered to standards agreed with tenants.
  • To converge rents by 2014 (this is where similar rent will be charged for similar properties in similar areas, irrespective of whether the landlord is a council or housing association).
  • Mitigate some of the risks associated with Welfare Reform and the impact on income collection to the HRA.

Full documents can be downloaded: