The tenants of Inverclyde have voted overwhelmingly in favour to transfer approximately 7,900 houses, from the Council, to the not-for profit housing association called River Clyde Homes.

The Treasury will now write off the council’s housing debt (that’s the money spent on building and improving homes in the past). At the moment 37p in every pound of tenants’ rent goes towards paying off this debt.

Because River Clyde Homes will not carry this debt it can use the money saved to pay for improvements – and ensure that rents stay affordable.

Existing tenants’ rights such as the Right to Buy will be protected in the new organisation. Employees currently working with council housing will transfer to the new organisation.

A further benefit of Community Ownership is the chance it gives for tenants to really influence what happens to their homes by sitting on the Board of River Clyde Homes and being involved in making all the major decisions.

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