What are Housing Associations?
A group of people get together with the aim of providing good quality low cost houses for rent and for sale. They elect a committee of volunteers, and the committee employs staff. Using government grants and loans from banks they build some houses and improve others. That’s a housing association.
Because there is a shortage of affordable housing, associations let to people in the greatest need. Any money they make is ploughed back into maintaining the houses they have, or providing more.
Many housing associations have tenants on their committees. Housing co-operatives are much the same, but every tenant is a member.
That means the tenants jointly own and run the co-operative.