Interim CIC Six-Monthly Report (2024H2)

By Nige on January 7, 2025 at 10:53 am
Type: Post Category: Website
Tags: CIC Report

[This is an interim report – additional detail needs to be added into Next Period objectives and targets]

Company: Residents First C.I.C. (15859477)

Period: The 6 Months from 01/07/2024 to 31/12/2024 (2024H2).

Quick Links

• Introduction
• A Look Back at the Last Period
• A Look Forward to the Next Period
• Conclusion
• Appendix A – Declarations on Formation of a CIC

Introduction

In July 2024, Residents First (RF) was informally started, with a broad aim of providing support to residents living on an estate where there is an obligation to pay a service charge.

With little idea as to whether there was a significant need for such a service, RF started off with some low-key posts on relevant Facebook Groups to assess the level of interest from its potential audience.

Based on the positive response, Residents First C.I.C. was incorporated in late July 2024 with the Declarations on Formation set out in Appendix A. This sets the high-level objectives for RF.

A Look Back at the Last Period

Community Objectives for the Last Period

Although not formalised at the start of the last period, in general terms, RF was aiming to achieve the following:

• Establish an accessible support service that residents in need could access for help with freehold and leasehold property issues.
• Based on the clients that engage with RF, build up an understanding of the issues that residents face and a positive reputation for supporting residents in need.

Services Offered During the Last Period

RF’s primary service offering during the last period has been a free email support plan.

Achievements During the Last Period

During the last period, RF has:

• Engaged with a significant number of clients, developing bespoke strategies to help them achieve their desired outcome. RF ended up with 60 clients by the end of the last period. The latest scores can be found on the RF’s website: Our Scores – Residents First.
• The clients RF has engaged with have provided an opportunity to flesh out the ideas, tools and services that RF will need in order that it can fully achieve its community objectives.
• Rolled out this website, providing useful information for freehold and leasehold residents across the UK, and the opportunity to engage with RF: Services – Residents First.
• Developed contacts to help RF in achieving its objectives moving forward. This includes business partners, potential opportunities within the corporate sector and contacts within local and central government planning teams.
• Raised over £1,000 in donations to cover the cost of running its free email support service.

RF has set out an expanded list of services including a priority email support plan and a number of add-on services including:

• Assessment of Legal Documents.
• Digitisation of Legal Documents (S106, TP1, TR1, Lease).
• AI Analysis of Legal Documents.
• Telephone and Video Conference Calls.
• Supplier Selection.
• Information Request from a Local Authority.
• Residents’ Association and/or Management Company Website.
• Site visits and inspections.

All of these add-on services are available to clients for a small fee.

A Look Forward to the Next Period

Community Objectives for the Next Period

RF will have a focus on the following:

• Continue to support residents in resolving their freehold and leasehold property issues.
• Increased marketing to reach a wider audience.
• Drive change to the S106 planning guidance, to close the loophole allowing developers to transfer responsibility for maintenance to Management Companies, earlier than allowed.

Services to be Offered During the Next Period

RF will continue to focus on its primary service: a free email support plan. More focus will be placed on:

• Moving RF clients to the priority email support plan (charged at a small monthly fee).
• Selling add-on services and encouraging donations.

Targets for the Next Period

• Expand the client portfolio.
• Improve tracking of the status of RF’s existing client portfolio. For example, which clients are in an engagement phase, actively supported, delegated to business partners, on hold or closed?
• Expand into the corporate sector, offering related services that can be used to subsidise residential service offerings. For example, offering a Residents Liaison Service to developers.
• Look into the opportunity of grants to support business running costs.
• Develop a sustainable business model that combines a low-cost bespoke service to support residents, subsidised by services to corporates and donations or grants where appropriate.
• Develop a plan to expand the team based on the level of work being generated.
• Enhance RF’s online services – current functionality is relatively limited.

Conclusion

This has been an exciting first six months for RF. RF is already established as a supporter of residents needing help with their freehold and leasehold property issues.

The last period has also been a learning opportunity for RF. RF needs to use the next period to refine its goals to ensure it delivers services that best support the residents that are at the heart of its community objectives.

Appendix A – Declarations on Formation of a CIC

Community Interest Statement

Activities and Related Benefits