Southwark Agrees To First Self-Financing TMO

Last May Southwark Council had agreed in principle to the idea of Leathermarket Joint Managing Board becoming self-financing. Councillors have now gone a step further and given the green light for the TMO to becoming self-financing from 1 April. This means it will keep rental income from the 1,451 homes it manages on behalf of the council. Currently, TMOs do not keep rental receipts but receive an annual allowance from councils.  Read more on the Southwark Council website.