The promise of more affordable homes and better housing standards
On 1 December 2008 the Government launched the new "Homes and Communities Agency (HCA)" and the "Tenant Services Authority (TSA)" as a result of the report "The supply of Rented Housing".
The HCA will be responsible for regenerating communities and ensuring that affordable homes are readily available. In order to achieve their goals they will:
- work on regeneration schemes with English Partnerships
- provide new affordable housing (funded by social housing grants from the Housing Corporation)
- deliver housing and regeneration projects in areas of major housing growth
- deliver Private Financial Initiatives (PFI) for housing, and
- encourage capital investment for homeless projects, hostels and supported housing
The TSA will be responsible for:
- regulating social housing
- setting the management standard for both housing association and local authority social homes, and
- monitoring the viability of registered social landlords who find themselves in financial difficulties in the current difficult economic climate
The HCA and TSA will work together to maintain the delivery of affordable homes by looking at new forms of land purchase; providing "rent to buy" properties; converting unsold housing stock into social housing or "rent to buy" and supporting organisations that are financially vulnerable in order to protect tenant's homes.