Longevity

Parties to a voluntary affordable housing agreement must consider how the public benefit of the provision of affordable housing or a contribution to housing affordability is retained. Will the affordable housing provided be secured in longer term (for example 20-25 years, perpetuity) or is it time limited? If the affordable housing is to be sold at a later date, will the proceeds be re-invested in affordable housing? There is no single method for securing affordable housing. One way is to direct the affordable housing to a Registered Housing Agency regulated under the Housing Act 1983.