England’s largest tenant body made a loss of more than £26,000 in 2014/15, reducing its reserves by more than a third.
The Tenants’ and Residents’ Organisations of England (TAROE), which in March warned it is at risk of closing, revealed the extent of its financial problems in its annual report for 2014/15.
Accordingto Inside Housing:
“The report shows TAROE’s reserves fell from £66,060 in 2013/14 to £40,047 in 2014/15. Its deficit for the year was £26,013 and follows a £33,288 deficit the previous year.
TAROE warned last month that it may have to close by the end of March due to a lack of funds.
It has struggled for a number of years now, due to government funding cuts and a reduction in paid speaking engagements from sector organisations.
In his foreword to the report, Michael Gelling, chair of TAROE, appealed for donations, saying it is “up to the sector” if TAROE can continue.
Mr Gelling said: “If every landlord registered with the regulator was to gift TAROE £100 a year, a representative accountable tenant voice could add value… So much for so little. One has to ask why isn’t this happening?” ”