London landlords highlight £530m in ‘social value’ contribution as cost of living bites

The amount that G15 members invested in community projects also fell year-on-year to £30.3m, compared to £35.2m in 2022. 

The report showed that nearly 9,000 people engaged with a total of 75 ‘food provision’ projects – backed by G15 members. 

Out of 48 ‘employment support’ projects, 8,483 people engaged, according to the report.

As a result, G15 landlords helped more than 6,000 people into work and training. These projects contributed the lion’s share of the ‘social value’, around £427.4m. 

In addition, 23,000 residents received money guidance and more than 30,000 older people took part in social activities, the report said. 

Writing in the introduction to the report, Fiona Fletcher-Smith, chair of the G15 and chief executive of L&Q, said: “This year has been a difficult one – the cost of meeting life’s essentials has increased, and it’s affecting everyone. 

“Social housing residents, who experience higher rates of poverty on average than those living in other tenures, have been disproportionately affected by this.”

But she added: “These programmes make me feel hopeful about the future of the G15 – and our continued ability to be significant levers of change for our communities.” 

The report comes amid continued heightened scrutiny of the sector – including many G15 members – over the quality of some homes and treatment of tenants.

Last summer, housing secretary Michael Gove ‘named and shamed’ a number of landlords – including Catalyst, Hyde, Metropolitan Thames Valley and Notting Hill Genesis – over poor practice. 

He also summoned Ms Fletcher-Smith to a meeting after claiming the landlord had “failed” residents.