Perth & Kinross Share Repair Scheme a Success!

An innovative pilot scheme that supports people living in shared ownership properties to carry out essential maintenance and repairs has delivered successful results, a Perth & Kinross Council report says.

The Missing Shares Scheme, launched in 2021, aims to make it easier for people who live in tenements or blocks of flats to organise essential repairs to communal areas, where one or more of the owners cannot or is unwilling to pay.

Issues like water leaks, wet/dry rot, and crumbling stonework not only affect the lives of homeowners and tenants but also pose safety risks like falling masonry, slipped slates, or unsafe stairways if left unresolved. Ignored repair issues can lead to enforcement action, which is costly for both homeowners and the council.

Essential repairs can often be difficult to authorize when permissions are needed from all owners. In such cases, the Missing Shares Scheme steps in to pay a missing share, which is then recovered from the owner through a flexible monthly repayment plan or a repayment charge attached to the property’s title, recouped at the point of sale, allowing the essential work to be carried out.

The report presented to the Housing and Social Wellbeing Committee highlights the success of the two-year pilot program:

• Out of 180 enquiries regarding communal repair issues, 70% have been resolved by the Missing Shares Officer, allowing repairs to progress without financial intervention from the council.
• £800,000 worth of communal repairs have been completed without using the missing shares process, reducing the need for intervention by other council services.
• Only 14 missing share applications (6 complete, 8 pending) have been required, involving 125 properties and a total missing shares funding of £144,000 from PKC.
• The total value of works achieved by property owners due to this financial intervention is well over £1,070,000.
• The level of communal repair improvements has only incurred a small council spend of £40k for staffing, with the £144,000 in missing shares being recoverable income through a repayment process.

Councillors will be deciding whether to extend the scheme for another three years, with a future decision on the long-term viability of the service.

Extending the scheme will allow for a comprehensive review using five years of data to assess the long-term benefits, financial impacts, and funding structure for the service moving forward. This continued support aims to improve the quality of living for shared ownership property residents and ensure the safety and maintenance of communal areas.

Join us in supporting initiatives like the Missing Shares Scheme to create sustainable and inclusive communities for all. Stay tuned for updates on the decision from the Housing and Social Wellbeing Committee as they strive towards a brighter future for all residents in Perth & Kinross.