Barking and Dagenham council’s housing company, Reside, now has a new board and recently appointed a Managing Director to take forward the ambitious plans to provide even more affordable homes for local people.
Since its launch in 2012, Reside is now a significant landlord in the borough with almost 900 properties, with over 70 shared ownership properties on its books. Over the next five years there is an opportunity to increase the number of homes by a further 3,000.
Most of the properties are rented at 80 per cent of market rent, with a small number at 65 per cent. Priority is given to local people who are in employment, with the aim of helping people who can’t afford a deposit to get onto the housing ladder, but are also not able to qualify for council housing. Some of the homes are also available at 50 per cent of market rent, and these are allocated in the same way as council housing.
The new board members are; Sonia Davidson-Grant (Chair), Brian Ham, Jeremy Grint, Fiona Penhallurick and Symon Sentain.
The new appointments mark a new phase for Reside as it continues to take forward the council’s ambitious plans to improve access to affordable housing of a range of tenancies for all of our residents and to encourage strong and resilient communities.
"The Reside schemes that are available widen the housing choice for residents - making sure no one is left behind."
Cllr Cameron Geddes, Cabinet Member for Housing and Regeneration, said:
“We are committed to investing in good quality, affordable homes for all of our borough’s residents. Reside is helping us to deliver on this commitment and the new board will undoubtedly add to its success so far.
“Reside homes help to give security of tenure to residents who want to own their homes and are fed up with paying sky-high market rents. The schemes that are available also widen the housing choice for residents - making sure no one is left behind.”
Kristian Melgaard, Managing Director of Reside, said:
“I’m confident the new board will bring to the table a wide range of expertise to benefit the great progress Reside is already making.
“We know there is an appetite for even more affordable rents and hope to increase our portfolio to over 3,000 good quality homes over the next four years, for the benefit of local people in the borough.”
Sonia Davidson-Grant, Chair of Reside, said:
“I’m delighted to be appointed Chair of the Reside board. With our combined experience and expertise, I have no doubts that Reside will go from strength to strength.”