Black and minority ethnic associations need twice as much subsidy to survive rent restructuring, a chief executive has said.
Munir Ahmed, chief executive of Rochdale-based Ashiana Housing Association, said the Housing Corporation's £15m fund for landlords affected by restructuring must be doubled to make good the losses it will cause.

Council and housing association rents are being restructured in a 10-year programme ending April 2012 so they are closer.

Rents will be fixed at lower levels in areas of low demand. As a result, BME landlords could lose up to a quarter of their rental income.

"If they doubled the subsidy, it would be a realistic start," said Ahmed. "£15m is not sufficient." He expects the North's seven major BME landlords alone to bid for upwards of £3m. He would not reveal Ashiana's bid but said it was "significant".

Source

Housing Today