The Client
A large managing agent and shared ownership provider. The client manages multiple developments, ranging in size and complexity. With a growing focus on building, the housing provider sought to outsource rent collection to ensure a more efficient, structured and smooth process.
Their Challenge
Rent collection had been handled in-house, which diverted focus from core business priorities. The client recognised the need for dedicated, specialist support to enhance efficiency and streamline operations. Prior to engaging with Innovus, the client had not implemented a structured credit control system. Previous rent collection efforts had been informal and ad hoc. This process gap left the client vulnerable to financial instability and inefficiencies in rent collection.
Our Solution
Innovus stepped in to provide comprehensive rent collection support. A tailored customer communication strategy was developed to strengthen customer relationships and increase awareness. The Innovus Rent Collection Team conducted in-person site visits at each development, hosting educational workshops to engage residents and address concerns directly.
To facilitate a smooth transition, the Innovus team established weekly meetings with the client, providing consistent updates and transparent reporting. This approach empowered the client to better understand their financial performance and make data-driven decisions. By implementing structured arrears recovery and consistent credit control measures, the proactive strategy improved cash flow and minimised risk.
The Result
With Innovus managing their rent collection, the client now collects over £3 million annually. Rent arrears have been reduced to an average of 1-3% across their portfolio, ensuring a healthier financial position. Additionally, 94% of rents are collected within 30 days, helping to maintain steady cash flow and minimise outstanding payments. Innovus also ensured full compliance for the issuing of demands and communication, reinforcing regulatory confidence and operational security.
Customers across the portfolio now understand their accounts and know they have the support of the Innovus Rent Team to respond to any queries directly, swiftly and thoroughly.
Feedback
Innovus’ approach has had a significant impact on our operational efficiency and financial performance.
"Working with Innovus has greatly improved our rent collection process. Their clear, regular updates and tailored support have made a real difference to our day-to-day operations."
