The role of housing associations in the rental sector

A housing association is a not-for-profit organization which owns, lets and manages rental housing. As not-for-profit organization, revenue acquired through rent is reinvested back into the acquisition and maintenance of property.

housing associations and Leasehold information

Leasehold information
Housing associations now build properties for shared ownership. This is where you buy a share of the equity and become a leaseholder. A residential lease is a tenancy agreement for a minimum term of 21 years but can also be for longer. The lease grants the leaseholder the exclusive right to occupy a property for a set term as defined by the lease contract. Most leases set the term at a maximum of 99 or 125 years. A lease contract outlines that the repairs to the building, cleaning, gardening, insurance and other communal services will be paid separately through a monthly service charge. The lease also states that a leaseholder must pay for and carry out all repairs within their flat.

The Tenant Services Authority and the Housing Corporation