ELM Group is celebrating the significant savings it has negotiated for the gas contract at one of its retirement properties located in Barnes, London.
Last month, the retirement property management company secured a 65% saving on its previous annual contract costing residents over £92,000. The new figure equates to a saving of over £60,000 over the course of the next two years.
The not-for-profit company has released this information as part of its regular estate review which it uses to identify opportunities to cut costs for residents wherever possible in line with its mission to create affordable retirement housing for people of retirement age.
In 2022, the company saved customers across its estates almost £36,000, so with the latest savings, 2023 is off to a strong start.
Gill Birch, ELM Group’s Business Co-ordinator, who oversees the estate review process, said: “Along with the rest of the country, our estates and residents have been affected by the ever-increasing energy prices. The way we operate by understanding our estates, recognising individual circumstances and being willing to do ‘something different’ if the need arises, has put us in a strong position to be able to find the best outcome for our residents during uncertain times.
With regards to our Barnes property, we worked with our ARMA-partnered energy broker to find a way to remove the gas supply from our usual corporate structure and negotiate a contract for a shorter timeframe when markets were at their worst. As the markets started to recover, we were then able to renegotiate at a much-improved unit rate and secure this significant saving.
Lorraine Collis, Chief Executive at ELM Group, said: “With the cost of living higher than ever, value for money is at the forefront for us and we are always looking for ways to make retirement living affordable for our residents.
When we started in 1971, our vision was to pioneer the concept of affordable retirement communities which continues to underpin our operations. Our customer-focused ethos sees our employees strive to achieve the best possible outcome for customers, treating their money as if it was their own; and we never take commissions, which really allows us to maximise customer savings across the board.”
ELM Group manages retirement communities across the South of England and has become one of the UK’s leading retirement leasehold management companies. The company originated in 1971 as Retirement Lease Housing Association (RLHA) a charitable organisation founded by a group of volunteers with a shared vision - to pioneer the development of sheltered housing for sale to people of retirement age. Sheltered housing for rent was already widely available, but the founders wanted to introduce the concept to those who valued owning their own property and saw the benefits of a purpose-built Estate, with onsite support from an Estate Manager.
Having built upon their enviable reputation in the independent retirement living sector, RLHA are proud to be one of the South of England’s leading leasehold property management companies.
