Page last updated at 14:28 GMT, Sunday, 15 November 2009

Council considers homes transfer

Thousands of council tenants on Teesside could find themselves with a new landlord.

Stockton Council is considering handing over ownership of its stock of 10,500 properties to an outside organisation.

The new owners, Tristar Homes, would become a not-for-profit housing association, which would own as well as manage the homes.

Tenants will be balloted in 2010 on the move which the council said would unlock funds for improvements.

The transfer will only go ahead if the majority vote in favour.

It is estimated that over the next 30 years millions of pounds would be needed to repair, improve and maintain the homes.

The council said that almost a third of every tenant's weekly rent had to be passed to central government to subsidise housing in other parts of the country.

As a housing association, Tristar Homes would be able to keep all the rent and invest it back into the property stock.



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