Missing Shares Service - Update on Progress and Next Steps
Perth and Kinross Council · 26 November 2025
Back to Finance and Resources Committee — 26 November 2025 and its agenda
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Our vision is a Perth and Kinross where everyone can live life well, free from poverty and inequality ___________________________________________________________________ Committee or Board: Housing & Social Wellbeing Committee / Finance & Resources Committee Date of Meeting: 26 November 2025 Report Title: Missing Shares Service – Update on Progress and Next Steps Report Number: 25/323 Report Author: Kirsty Steven, Principal Officer – Environmental Health EH@pkc.gov.uk Organisational Leads: Elaine Ritchie, Strategic Lead – Housing & Communities Scott Walker, Chief Finance Officer ___________________________________________________________________ 1. Purpose 1.1 This report provides an update on the progress made through the Missing Shares Service and seeks support to continue using the second homes budget to underwrite the value of predicted missing shares. 1.2 It also seeks support to increase the current maximum allocation per share and make the Missing Shares Officer post permanent. 1.3 Sections 1. Purpose 2. Recommendations 3. Background 4. Context and Main Issues 5. Proposals 6. Conclusion 7. Impact and Value Assessment 8. Appendices
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2. Recommendations It is recommended that Housing and Social Wellbeing Committee: 2.1 Supports the ongoing use of the second homes budget to underwrite the expected future Missing Shares until the applications approved within the pilot period are concluded. 2.2 Supports an increase to the current maximum allocation per share. 2.3 Supports the proposal to make the Missing Shares officer post permanent. 2.4 Acknowledges the continued success of the pilot, and the increasing service demand. 2.5 Recognises the existing, effective financial mechanisms in place to secure missing share recovery. It is recommended that Finances and Resources Committee: 2.6 Approves the ongoing use of the second homes budget to underwrite the expected future Missing Shares until the applications approved within the pilot period are concluded. 2.7 Approves an increase to the current maximum per share from £10,000 to £30,000, with Strategic Lead approval beyond this amount. 2.8 Approve the proposal to make the Missing Shares officer post permanent. 2.9 Acknowledges the continued success of the pilot, and the increasing service demand. 2.10 Recognises the existing, effective financial mechanisms in place to secure missing share recovery. 3. Background 3.1 The original committee report seeking the pilot of a Missing Shares Service was approved on 31 May 2021 for a two-year period, with an Officer, and £200k of recoverable funding to underwrite Missing Shares payments from the second homes budget. 3.2 Three years later in June 2024, with a successful service established and increasing demand, an extension to the pilot for a further 3 years was agreed at committee until September 2027, under the same financial arrangements and with the ongoing employment of the Missing Shares Officer.
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3.3 Since its inception, the service has grown from strength to strength, delivering clear benefits to users and generating savings across the Council and beyond. Highlights of its success include: • Handled over 250 enquiries, resulting in £4 million worth of communal repairs, with £1 million of these repairs successfully completed solely through the provision of support and advice to property owners Only 29 Missing Shares applications were required, of which 19 are now concluded. Notably, 5 required no payment due to prompt repayment following completion of works. • Delivered communal repair information sessions in partnership with organisations such as Perth & Kinross Heritage Trust, Under One Roof, and Novoville. These were complemented by building condition and maintenance tours in Perth City Centre and the establishment of a ‘Buildings in Disrepair’ working group. • Fostered collaborative working across PKC services, including Housing Repairs, PKC Lets, Vacant Properties, Building Standards, and Environmental Health, and with external partners, particularly Perth & Kinross Heritage Trust. These joint efforts have enhanced support, improved efficiency, and unlocked additional funding. 4. Context and Main Issues 4.1 The service receives an average of 50-70 enquiries per year. However, the rising cost of applications indicates that the funding required for missing shares is likely to increase significantly over the next 2-3 years. 4.2 Positively, all missing shares to date have been secured against the relevant properties. In many cases, recovery has been swift, either through timely payment or structured payment plans, typically over a maximum five years. 4.3 While most application demand is concentrated in Perth; the service provides advice and support across Perth and Kinross. Completed applications have also been delivered in Crieff and Muthill. 4.4 The service is now drawing on additional external funding streams to enhance financial support for owners who may not meet the standard missing shares criteria. This includes funding from Perth & Kinross Heritage Trust and UK Shared Prosperity Fund, with ongoing discussions underway with the Council’s External Funding team. 4.5 Efforts are also being made to promote proactive building maintenance, helping owners avoid large-scale repairs and associated costs, which can often be prohibitive to owners. 4.6 To ensure the missing shares funding allocation delivers maximum impact, priority is given to facilitating substantial repair works rather than temporary patch repairs. As such, the maximum allocation per share and timescales for pending and predicted works have been reviewed.
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Examples of pending works include full roof replacements, comprehensive building surveys and masonry rebuilding. 4.7 Spend to date, allocated funds, and recovery details are provided in Appendix 1. However, it is uncommon for the full application process, from submission to completion of works and final missing shares payment request, to fall within a single financial year. 4.8 As a result, there is a discrepancy between the total value of applications received and the combined total of missing shares paid or pending. In some cases, additional works are identified after commencement, or the missing share is repaid before completion, meaning no payment is ultimately required. 4.9 AIl missing shares are secured through a recharging order against the benefitting properties. Encouragingly, 22% have already been recovered, and 51% are in active recovery, indicating a strong repayment rate. 5. Proposals 5.1 As detailed in Appendix 1, approximately £207,000 of missing shares has already been approved, pending completion of works – most of which are expected to be paid within the next year. 5.2 In addition, there is a further projected demand of £300,000, which would support £670,000 worth of repairs across 12 buildings, comprising 65 residential and 15 commercial properties. 5.3 This brings the total expected missing shares requirement to £507,000 during the pilot period. 5.4 Given the rising demand, approval is sought to continue using the second homes budget to underwrite the recoverable spend and ensure the service can continue. 5.5 It is also recommended that existing procedures be updated to increase the maximum allocation per missing share from £10,000 to £30,000, reflecting the scale of repair costs in many cases. Applications exceeding this amount would require approval from either the Strategic Lead for Finance & Business Support (Chief Finance Officer) or Housing & Communities. 5.6 Given the ongoing and growing demand for the service, it is further proposed that the position of Missing Shares Officer is made permanent, using the second homes budget, to ensure continuity in service delivery. 6. Conclusion 6.1 The Missing Shares Service has become a vital tool in supporting property owners, particularly those in vulnerable situations, by helping to address inequalities linked to poor housing conditions.
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These challenges, often worsened by the cost-of-living crisis, have a direct impact on mental and physical wellbeing. The service directly supports the aims of the PKC Community Plan 2022–2032 by targeting resources where they are needed most. 6.2 The outcomes speak for themselves: improved living conditions, safer and more sustainable buildings, and the preservation of valuable housing stock. The service empowers owners to take control of essential repairs, often safeguarding their only significant asset and building confidence for future maintenance. 6.3 The increasing scale of works requested through missing shares applications highlights the urgent need to address severe deterioration of buildings across Perth & Kinross, a challenge this will only intensify with the impacts of climate change. 6.4 By continuing to underwrite Missing Shares through the second homes budget and increasing the maximum share allocation, the Council can remove financial barriers, enable critical repairs, and reduce pressure on other services. This will ensure the long-term sustainability of our communities and reinforce our commitment to fairness, wellbeing, and resilience. 7. Impact and Value Assessment 7.1 Link to IVA 8. Appendices Appendix 1 – Recovery Breakdown