Magazine article Public Finance

RSLs in Financial Difficulties Might Be Exempt from Rent Cuts, Says TSA

Magazine article Public Finance

RSLs in Financial Difficulties Might Be Exempt from Rent Cuts, Says TSA

Article excerpt

Housing associations that can show their financial viability is at risk might be able to avoid cutting rents next year, It was confirmed this week.

But Peter Marsh, chief executive of the Tenant Services Authority, doubted whether many association boards would choose to claim they were in such a serious situation that a 2% rent reduction threatened their future.

Last week, the government disregarded calls from the National Housing Federation for a rent freeze in 2010/11 and, depending on the retail price index in September, said rents might faff by as much as 2%.

'It's clear that a board's fiduciary responsibility overrides all other responsibilities,' said Marsh. 'It's not a dodge. It simply acknowledges that viability matters.'

Marsh was speaking as the TSA launched discussion papers on governance and viability ahead of this autumn's wider consultation on the new regulatory framework for social landlords and other providers of affordable housing. …

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