Research for the NFTMO has revealed the mixed experiences of TMOs involved in the Stock Options Appraisal process in council housing. The research has looked at how TMOs are faring in stock transfers, Arms Length Management Organisations (ALMOS) and Private Finance Initiative schemes.
Where good practice and government guidance is followed it is clear that established TMOs cannot only survive but can also prosper after a stock transfer. With that in mind the NFTMO has published detailed Stock Options guidance and good practice for TMOs, based on the research.
Several TMOs around the country are using the Stock Options process to examine the potential for their TMO to take ownership of its properties through some form of community based stock transfer. Government Tenant Empowerment Grant will now be available to help TMOs consider that option.
Of concern to the tenant management movement is that the research suggests that few, if any, new TMOs are developing after a stock transfer is complete. It is welcome news then that the Housing Corporation is currently developing good practice guidance to help Registered Social Landlords nurture and support new TMOs.
ALMOs are a recent innovation but the early signs are that their relationship with TMOs has not been properly thought through by the councils involved. Confusions about roles and responsibilities have been common and often to the detriment of the TMO.