But under the co-owned model, tenants are central: enterprises provide greater security through long-term lets (although tenants can leave when they want), and affordability, through rents benchmarked to lower market levels and or income levels. Co-owned housing could be the answer to London’s escalating housing crisis. In a model that has already been successful in Sweden and Switzerland - and is being trialled in Wales - co-operative enterprises would manage the properties, offering long-term rentals to tenants at the lower end of the wage spectrum. The idea was first proposed by the Co-operative Housing Association (CHA) as part of its “Building for Lives” campaign, which aims to build more affordable homes across Britain.
Co-owned housing could be the answer to London’s escalating housing crisis. In a model that has already been successful in Sweden and Switzerland - and is being trialled in Wales - co-operative enterprises would manage the properties, offering long-term rentals to tenants at the lower end of the wage spectrum. The idea was first proposed by the Co-operative Housing Association (CHA) as part of its “Building for Lives” campaign, which aims to build more affordable homes across Britain.