The Transparency, Influence and Accountability Standard requires all registered providers to provide tenants with accessible information about their directors’ remuneration and management costs.
The CEO and directors manage Heart of Medway and all other entities within the larger mhs homes group. These figures cover all of these entities.
These are some of the terms we use:
Remuneration: The money paid to our directors (salary)
Social housing property: The number of homes we own/manage
Period of account - Refers to the financial year, which this year runs from 1 April 2023 to 31 March 2024
Please note: Each measure set out below is reported as a per-property figure.
Measures
The remuneration payable to the highest paid director, relative to the size of the landlord
£22 per property
How this is calculated: Remuneration payable to the highest paid director (excluding their pension and National Insurance contributions) in relation to the period of account, divided by total social housing properties owned and/or managed at period end.
The aggregate amount of remuneration paid to directors, relative to the size of the landlord
£83.66 per property
How this is calculated: Total aggregate (meaning total) directors’ remuneration (including pension and National Insurance contributions, payable to directors or former directors) in relation to the period of account divided by total social housing properties owned and/or managed at period end.
Management costs relative to the size of the landlord
£929 per property
How this is calculated: Total management costs (social housing lettings) in relation to the period of account divided by total social housing properties owned and/or managed at period end.
Value for money
Headline social housing cost per property calculation
Our latest financial statement can be found here: mhs-homes-annual-report-and-financial-statements.pdf