Sticks and bricks,
But you can get your kicks
In the house of bamboo.
Also can you advise re Magenta Living being a Social non profit org. starting up a subsidiary called Bamboo Lettings which is a joint venture with Torus Group (St Helens – Graham Burgess) which will increase the returns on some formerly social-rented stock by letting them at market rates for a period of five years.At 31st March 2017, Magenta Living had transferred 5 properties into Bamboo Lettings, with the intention being that a further 95 properties will be transferred into Bamboo by the end of 2017-18. Magenta Annual Report 2016/17It might be legal but who decides property A is Social – Property B next door is commercial and charges more? 100 now ,how many in future years? Still classed as a Charity? Stinks to high heaven……………..
Bamboo Lettings is owned by Magenta and Torus. Magenta was the former council housing department of Wirral Borough Council, and Torus is the former council housing departments of Warrington and St Helens. It has offices in Wirral and even its own Facebook page here and there you can see the strap line Bamboo Lettings is a private lettings company, with properties in Wirral, Warrington and St Helens. Such contrived and opaque constructs are no longer needed reader!
LOSS OF SOCIAL HOUSING TO BAMBOO LETTINGS LLP (to be debated)
Proposed by Councillor Stuart Kelly
Seconded by Councillor Chris Carubia
Council notes the establishment of a private lettings company known as Bamboo
Lettings LLP between Magenta Living and a housing organisation called Torus.
Council notes that Magenta are planning to transfer under a lease arrangement up to100 social housing homes to Bamboo Lettings company for them to be let at full market rents.
Council notes that a three bedroom house offered for let by Bamboo in the
Woodchurch area will cost a prospective tenant £137 per week against the social
rent charged by Magenta of circa £97 per week in the same area (and against an
‘affordable’ rent level of £110).
In addition, Council is concerned that Bamboo Lettings also charge private sector
style ‘fees’; an example of these fees for a three bedroom house in the Woodchurch
Application fee – £50
Administration fee – £75
Guarantor fee – £50
Check out fee – £60
Additional deposit for a pet – £100
Council believes that these fees are not linked to the service provided, are
unacceptable and extortionate and requests a justification for this regime.
Council notes the Cabinet Member for Housing has told Magenta that Wirral Council would not want to see larger 4 bedroom accommodation, those for older people and those adapted properties being transferred; and has highlighted to Magenta concerns about a number of disposals occurring in the same popular locations, thus reducing availability of social housing stock.
Council notes that there are currently 9643 people registered on the Choice Based
Lettings System, of which 2348 have a housing priority need.
Council has objections to the use of social housing in this way and requests (through the Council’s Managing Director for Delivery to Magenta Living) that the relationship with Torus/Bamboo be suspended to allow the Council the opportunity to fully investigate the use of social housing stock as de facto private rented houses https://democracy.wirral.gov.uk/documents/s50042720/Council%20NoMs%20-%2010-7-17.pdf8