Investment in the new financial year, funded entirely from rental income, will see the replacement of 245 central heating systems, bathrooms and kitchens as well as paying for new roofs and doors.
A breakdown of Melville's £1,645,635 planned maintenance budget for 2023/24 shows:
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• £512,924 on roofs
• £322,289 on 80 heating systems
• £316,603 on 79 bathrooms
• £299,938 on 86 kitchens
• £193,881 on 123 doors
"Despite rising costs caused by a number of factors, we are pleased with our home improvement programme for the coming year," said Rich Murdoch, Melville’s Head of Asset Management. "Our investment plans are paid for through the money we receive from rents and this year’s 2% increase, while in no way matching inflation, allows us to continue improving homes at a sustainable rate.
"Conditions continue to be challenging and are likely to remain so for some time to come, however sensible but at the same time ambitious plans will help us get through this tough period and continue to provide ever-improving homes at affordable rent levels."
