The majority of our income is generated from rent and service charges payable by our tenants. This income is used to cover the costs of managing and maintaining our housing properties. We also have a small amount of income from our Factoring activities, this amounts to approximately £2600 per year.
We are allocated grant funding from Glasgow City Council to fund medical adaptations for tenants who require alterations for medical reasons. These adaptations could be to provide a walk-in shower or external handrails in the garden. Our medical adaptations allocation for 2019/20 is £60,000.
We have previously received Housing Association Grant to partially fund the building of new properties. We received £3,259,778 of grant towards the cost of funding our latest development of 48 new homes which were completed in April 2019. The total cost of the development was £6,841,995.