The outlay is broken down into £9.6m of capital investment, £3.9m in reactive repairs and £1.7m of planned maintenance.

Following tenant consultation, the Association is also committing a £1.5m investment over the next five years in external neighbourhood improvements. A repairs contingency of £300,000 has also been introduced as well as £100,000 to improve the Association’s letting standards.

The Association’s Board approved a £1m investment over the next four years for a new housing management IT system as a platform for improving services, efficiency and performance. The budget also commits £4m to go alongside contributions from the Scottish Government and Argyll and Bute Council to deliver ACHA’s plans for 240 new build homes by 2021.

Alastair MacGregor, ACHA’s chief executive, said: “This budget does three things: it invests in our existing housing stock; it identifies and funds priorities coming back from tenant consultation like the neighbourhood improvements; and, through the new housing management system, gives a modernising commitment to service improvement.”

He added: “It also gives a multi-million pound input to the local economy supporting jobs and communities the length and breadth of Argyll and Bute.”