Controversial plans by a private for-profit company to take control of a housing estate in Myatt’s Fields have been condemned by Lambeth council’s housing chief.
Rents are likely to rise if Vision Homes, a for-profit company, succeeds in taking over properties on the Lothian estate, according to Cllr Maria Kay, Lambeth’s cabinet member responsible for homelessness and better homes.
In a strongly-worded letter to residents, Cllr Kay says says people who live in the area risk higher rents and service charges if they vote to accept the proposal from Vision Homes which, she claims, has no registered employees and no track record of managing properties.
Vision Homes, working alongside Pacca TMO, which used to run the estate, intends to ballot residents on the proposal in the near future — although no date for the vote has been revealed by the company.
In her letter, Cllr Kay, who has been talking to residents alongside local Councillors Annie Gallop and Paul Gadsby, said Vision Homes has “no registered employees and no track record in owning, developing, or even managing social housing.
“The proposals from Vision Homes could mean you pay more: from your rents and service charges to the repairs and maintenance activities to your homes, as Vision Homes would charge VAT on top of these costs,” she said. “If Vision Homes were to also sell your homes to another company in the future, they will not be required to ballot or obtain consent from the Housing Regulator.”
“It is unclear to me how they will fund the promises they are making to you and your neighbours. Vision Homes’ plans don’t add up, and they do not make financial sense.”
You can read Cllr Kay’s letter here.