The average age of Eildon Housing's stock is 11 years. For the past 20 years Eildon has been developing new projects each year and as they reach 20 years old require to be modernised as basic components like heating systems and kitchen units need replacement. The cost of modernising the stock is met through our Major Repairs Reserve which is funded from tenants' rents.
In order to ensure sufficient funds are available to replace components during the lifetime of each house, 10% of Eildon's stock is surveyed each year and feedback from these inspections are fed into our Life Cycle Costing model that estimates when each component in each house is likely to require replacement.
Eildon already has a cash reserve of over £4 million in its Major Repairs Fund which is increased each year by the amount needed to fund our long term commitments and requirements.
The Association's Modernisation Programme is currently based on the requirements to fully maintain the housing stock at a level to meet the Scottish Housing Quality Standard.
Replacement cycles are reviewed annually and current cycles for major components are as follows:
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REPLACEMENT CYCLE
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COMPONENT
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YEARS
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Kitchens including rewiring and replacement of base and wall units.
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20
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Central Heating including boilers, radiators or storage heaters.
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20
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Bathrooms
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30
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Partial Rewire
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20
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Full Rewire
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60
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Windows Upgrade
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30
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Window Replacement
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60
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Click here for more information on properties due to be included in the Modernisation Programme for 2011-2013.