management responsibilities from the local council to a Registered
From today the Riverside Housing Association will take over as
tenants participated and 96.7% voted in favour of the transfer under
the government's Large Scale Voluntary Transfer Scheme (LSVT). The
association acquired the stock from Macclesfield BC for
Housing minister Nick Raynsford said that many of the properties on
the Colshaw Farm estate had not been improved since they were built
and there had been some structural deterioration.
'The new landlord intends to invest£30m to provide such
things as double glazing, re-wiring and new back and front doors,
which I am sure everyone will welcome.
'By working together, Manchester City Council, Riverside Housing
Association and the tenants have now provided an excellent
opportunity to repair homes and provide a real improvement in
tenants' living conditions.'
LSVT forms an important part of the government's commitment to
providing decent homes and thriving communities. Tenants benefit from
housing transfers because, as private sector organisations, RSLs are
not bound by the same financial constraints as local authorities.
This means repairs can be carried out more quickly, rents remain at
affordable levels, and tenants have a greater say in the management
of their homes.
Since 1988, 101 local authorities have transferred all or part of
their housing stock to new landlords, involving over 390,000
dwellings. More than£6.5bn of private finance has been raised
through purchase and investment in housing stock and have generated
over£3.2bn in capital receipts.
1. LSVT is one option that councils are free to adopt. Transfer is
voluntary is can only go ahead with the support of tenants. A
housing transfer involves the disposal of all or part of an
authority's stock to an RSL. Increased investment means that any
backlog of repairs can be carried out more quickly than if the
properties had remained in local authority ownership. Rents will
also remain affordable and tenants normally benefit from a
guarantee that rents will not rise more than 1% above inflation
for the first five years after transfer.
2. 86.6% of tenants on the Colshaw Farm Estate voted on the
transfer and 96.7% of them were in favour of the move. The ballot
took place from 1-29 October 1999.
3. The Riverside Housing Association is an existing RSL and
currently owns about 22,000 properties throughout the country.
4. RSLs are regulated by the Housing Corporation, a government
body that ensures RSLs meet performance standards in areas such as
housing management, tenant consultation and rents.