Key features of an ALMO are:
- Ownership of the housing stock remains with the local authority.
- The local authority remains the legal landlord.
- Tenants remain secure tenants of the authority and there is no change in their rights, such as the right to buy, right to repair and right to manage.
- An Arms Length Body may manage all or part of an authority's stock.
In London £268 million has been made available to seven Arms Length Management Organisations covering over 90,000 tenanted dwellings, with a further four applications under Round 5 of the programme.
Beyond these requirements, it is for local authorities to devise arrangements which best suit their circumstances, encouraging a business-like and innovative approach to the management of the housing stock.
The next round of ALMO bids for conditional allocations of resources (Round 4) is due to begin in 2005-06. The criteria and information requirements are the same as for previous rounds, except that option appraisals supporting the ALMO option will need to be completed and signed off by the Government Office.
