Some housing associations have reported a shift in focus when it comes to income collection, especially those that have moved from a specialist to a generalist neighbourhood management approach.
With our Rent Arrears Prediction AI, frontline staff have the right information at their fingertips.
Over the last few years, we’ve noticed a shift in how organisations are delivering their services.
The most common change we’ve seen is a move from a specialist to a generalist neighbourhood role for frontline staff.
Instead of having separate teams focusing on one area – allocations, income collection, tenancy management, etc – they have neighbourhood officers covering a patch or community and acting as the first point of contact, sometimes with specialist back-up or a support structure.
This is usually about becoming more customer-focused and closer to tenants and communities so that they can identify issues and arrange intervention in a more proactive and informed way.
It can reduce the number of different people that tenants need to interact with making it a better customer experience. Instead, the neighbourhood officer taps into backup support teams when needed.
But because neighbourhood officers are juggling so many different areas, it can mean that priorities shift and things are missed.
So let’s say you’ve previously had a dedicated arrears team but your teams now manage neighbourhoods in a traditional, more general approach.
Rather than focusing on one specific area like rent or income collection, that’s now part of their wider role so it’s easy to lose focus on arrears.
Let’s be practical. You can’t prioritise everything but the more you prioritise rent, for example, the more you can manage rent arrears before they get out of hand.
But how do you do this with competing priorities and without losing focus on tenants and keeping them at the heart of this?
Answer… Artificial intelligence (AI) and machine learning.
With our Rent Arrears Prediction AI for housing, you can predict tenant arrears 3-6 months before they happen and identify which cases may become a long-term problem rather than a temporary one, giving neighbourhood officers the right information at their fingertips.
This allows neighbourhood teams to maximise time spent in their communities but also gives them the information to help prioritise which tenants may need pre-emptive support before it becomes a problem.
No matter how your organisation is structured, our Rent Arrears Prediction AI enables housing associations to make better use of their resources and mitigate persistent lost revenue.
We have trained our AI on tenancy data working with multiple housing associations to develop an accurate and reliable model to predict future arrears.
Our AI solution gives housing providers newfound abilities to see far over the horizon helping you:
Our technology delivers these unprecedented insights at under half the cost of other solutions providing a positive return on investment (ROI) within 5 months of implementation and an overall ROI of at least 5x the cost of the service.
Contact us using the form below for a free demo to see how we can support your frontline teams to spot potential long-term arrears BEFORE they happen.