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Right To Buy


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  [Right To Buy] - Posted: 12 May 2015 - 02:14 pm GMT
Nik Wood

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The new Government's proposal to grant a right to buy at a discount to tenants of housing associations is being opposed by them all including Peabody. Their case is that the reduced income from such forced sales can't finance building replacement homes for less than market rent. Can't argue with that.

The problem is that Peabody don't set a good example. Their use of voluntary sales (two on Victoria Park in 4 years) is taking homes out of the controlled market for key workers. They are also defending market level rents by suggesting that they go towards subsidising rents for the deserving poor. So it isn't the philanthropic charity that provides subsidy, but the slightly less poor people who rent from it.

So it must be very attractive to people who see buying as turning a home into an asset and ridding themselves of rent and the obligation to use the shambles that is Axis for maintenance.

Those of us who are concerned at the loss of homes for affordable rent that the RTB would cause do have our work cut out to convince our neighbours. Any thoughts on this thorny topic welcome.



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  [RE: Right To Buy] - Posted: 19 May 2015 - 12:26 pm GMT
adorno

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This can only end badly for Peabody and their tenants. Peabody will continue to increase rents to unaffordable levels, thus forcing people out of their homes. Then those empty properties will be sold off. People wanting to buy their property will get a discount but will be completely unaware of the implications of buying a leasehold property. They'll only realise what's going on when they're hit with a bill for communal repairs. By then, it will be too late.



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  [RE: Right To Buy] - Posted: 19 May 2015 - 12:26 pm GMT
adorno

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This can only end badly for Peabody and their tenants. Peabody will continue to increase rents to unaffordable levels, thus forcing people out of their homes. Then those empty properties will be sold off. People wanting to buy their property will get a discount but will be completely unaware of the implications of buying a leasehold property. They'll only realise what's going on when they're hit with a bill for communal repairs. By then, it will be too late.



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