168. Deputy Aisling Dempsey asked the Minister for Housing, Local Government and Heritage if he will consider reviewing the legislation around the approved housing bodies' ability to sell properties to tenants; and if he will make a statement on the matter. [38038/26]

Approved Housing Bodies (AHBs) (also called housing associations or voluntary housing associations) are independent, not-for-profit organisations. They provide affordable rented housing for people who cannot afford to pay private sector rents or buy their own homes; or for particular groups, such as older people or homeless people.

Under the terms of the various Departmental funding schemes supporting the delivery of social housing by AHBs, AHBs are the legal owners of the properties and must make them available for social renting for the duration of the mortgage / the availability agreement. Subsequent to the completion of the terms and conditions of any State funding, the AHB is the sole owner of a property.

AHBs are not generally precluded by legislation from selling properties to tenants on completion of the funding terms, but any sale of an AHB property must be in compliance with their Memorandum and Articles of Association. Further, as not-for-profit organisations, AHBs are limited in their ability to sell any property on the open market at a value which is less than the market value of the property and AHBs should engage with the Charities Regulator on any disposal of assets.

Tenant Purchase Schemes provide for the purchase by eligible tenants of local authority properties which are available for sale under the terms of the particular scheme. All applications for the schemes must satisfy the requirements outlined in the relevant legislation. However, the schemes only provide for the purchase of local authority properties and do not extend to properties legally owned by Approved Housing Bodies (AHBs). My Department monitors schemes on an ongoing basis to ensure that they remain effective and sustainable. However, consideration is not being given to extending the tenant purchase schemes for the reasons above.