Newark and Sherwood Homes (which is owned by the council), carries out the main housing management functions such as:
The council remains the landlord and continues to provide services such as:
The reform of council housing finance, known as self financing, has allowed the council to keep all the rental income from its homes in exchange for a one off debt payment. The Council's Self-Financing Housing Revenue Account Business Plan shows how the council, in partnership with Newark and Sherwood Homes, will manage this debt, continue to deliver high quality housing services and investment in its properties.
Newark and Sherwood Homes board membership
Newark and Sherwood Homes is a non-profit making company that is owned by Newark and Sherwood District Council and so it does not pay dividends to any shareholders.
The organisation is managed by a board of 15 members, made up of
- Five tenants
- Five councillors covering all political parties
- Five independent people with professional skills to help run the service
The board members serve as volunteers and only receive out of pocket expenses.
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