Social landlords must enforce new ‘pay to stay’ rule
- 08 Jul
The government has confirmed that social landlords must force social tenants earning higher incomes to pay market rent to stay in their homes.
George Osborne has trailed the new measure that will mean that social housing tenants earing £40K in London and £30k outside of London must pay market rent or “at least something close to it”, reports Inside Housing.
The Treasury have said that this policy will be compulsory for housing association and local authorities.
The Treasury could not confirm if the policy would require legislation, however there will be a consultation on the measure, which is due to come into place by 2017/18.
It is believed that the ‘pay to stay’ policy will save £250m a year.
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Revenue Optimisation "We really appreciate the work that Support Solutions did for Home Group in securing significant additional revenue for our supported housing schemes. This really will make a positive difference to the way in which we support our vulnerable tenants". Dave Coope - Home Group