Thanks for those replies. the situation is obviously better than I thought it was. However I notice that, in the article, surplus is defined as income less outgoings (obviously), so it depends what's included in "outgoings". Is it just maintenance?
Maintenance and admin I guess. Possibly interest on loans taken to build, though as most housing stock is over 30 years old, I should imagine all the original loans have been repaid by now.
Therein lies the crux of the issue. All new tenancies are subject to the new rules which allow rents to be charged up to 80% market value. If you move existing tenants, they then have a new tenancy.
Comments
Maintenance and admin I guess. Possibly interest on loans taken to build, though as most housing stock is over 30 years old, I should imagine all the original loans have been repaid by now.
Right. Thanks.