Value for Money
How our income is spent, our management costs and Directors’ pay
We define Value for Money (VfM) as producing as much social, financial and environmental value as possible from the resources we use to deliver quality homes and services, in neighbourhoods people choose, with the goal of improving lives.
We continue to deliver VfM by balancing investment with quality, so we can invest more in the services we provide to you. You can find out more information on our approach in our Value for Money Strategy 2025-28.
We use our three-year delivery plan to manage and measure our VfM objectives. We also publish a range of VfM metrics in our financial statements. You can find them on page 16 of our annual financial statements.
Glossary of terms
Depreciation is the amount recognised in our income statement for the reduction in the value of our housing properties over time.
Bed debts is the amount we have provided in the year to account for the cost of writing off unpaid rent.
Our management costs
The major items included in our management costs are staff salaries, administration overheads including insurance, and our Information Technology costs.
In 2024/25, our management cost per social housing home that we own/manage was £1,533.
Our Directors’ pay
The salary for the highest paid Director in 2024/25 was £14 per social housing home that we own/manage.
The combined salaries paid (including pension and national insurance costs) to all TCH Directors in 2024/25 was £48 per social housing home that we own/manage.
Further information on our Directors’ and employee costs can be found at pages 40 and 41 of our annual financial statements which can be found here.