Explaining Stock Transfers
Stock transfer describes the process where a council or local authority hands over the ownership and management of a large number of their homes to another organisation.
L&Q has been working with many councils on successful stock transfers in recent years, and we aim to continue doing so in the future. We work to bring all homes that are transferred to us up to the government's Decent Homes standard.
What is the Decent Homes standard?
In 2000 the Government set an ambitious target that all social housing should be of a 'decent' standard by 2010. To be classed as 'decent', homes must meet high standards of insulation, weatherproofing and modern facilities.
Why do councils transfer their housing stock to L&Q?
Many councils that own a lot of social housing do not have the money to upgrade all their homes to meet these standards.
One of their options is to transfer the ownership and management of some of their homes to housing associations that can guarantee the necessary investment.
Do I get a say in this, as a resident?
Residents get the chance to vote on whether or not they want their homes to transfer from the council to the housing association.
If residents vote in favour, and the transfer is agreed by our regulator, the Homes and Communities Agency, the stock transfer is complete.