On 23 March 2008, I received information that Loughborough TMO, the principal component of United Residents Housing, whose accounts have recently come under scrutiny, had been put into liquidation on Thursday 20 March 2008, and that the properties that it manages would now come under direct management by URH.
This was not correct. This TMO has, indeed, experienced serious management problems, and were it not for the intervention of Lambeth Council would be insolvent. Through mismanagement it had incurred debts in the region of £400,000, but arrangements have now been made for the Council to advance funds to cover this deficit. There is apparently no question of any money having been stolen, the funds have merely been wrongly applied, and not properly accounted for.
URH estate is composed of 2514 properties, of which 141 are freeholds. It manages 1910 tenancies and 463 leaseholds.
Loughborough contains 1262 properties, of which 39 are freeholds. It manages 1015 tenancies and 208 leaseholds.
Post updated 15/04/08
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2 comments:
We tenants have known for a long time that something was not right on our estate. Perhaps it will now be sorted. does liquidation mean that their will be a report into what has gone wrong? How is this goin gto effect our homes?
Has anyone heard anything more about what is happening here.
I have not seen anything on lambeth.gov.uk.
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