PI's: Rent VFM
Satisfaction: Rent Value for Money
STA 004 GN: Percentage of tenants satisfied with the value for money for their rent – GN
STA 004 OP: Percentage of tenants satisfied with the value for money for their rent – OP
Rationale, Definition & Worked Example
Below you can find information regarding the rationale, definition and formula for this performance indicator. This includes a worked example to demonstrate how this indicator should be calculated.
Rationale
Definition
This indicator is to measure the percentage of tenants who say they are very satisfied or fairly satisfied with the value for money for your rent. The data source will be the latest STAR tenant satisfaction survey.
“Tenants” are defined as general needs, housing for older people and supported housing tenants of the landlord, but excludes leaseholders, shared owners and commercial tenants.
Respondents will have the choice of five response categories. These are usually very satisfied, fairly satisfied, neither satisfied nor dissatisfied, fairly dissatisfied, or very dissatisfied.
Sometimes a numeric equivalent or other scale is used.
If no survey was carried out in the current financial year, please enter results from the most recent survey, but be sure to enter the year of the most recent survey into the profile information for your organisation.
Formula
Where A = The number of respondents who stated they were either very or fairly satisfied with the value for money for their rent.
And where B = The number of valid responses to the question. Valid responses include; ‘very satisfied’; ‘fairly satisfied’; ‘neither satisfied nor dissatisfied’; ‘fairly dissatisfied’; and ‘very dissatisfied’.
Worked Example
Percentage of respondents very or fairly satisfied with the services / overall service provided = ((233 + 513) / 1,092) * 100 = 68.31%