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VATGPB8330 - Other local authority activities: housing and community projects: third party management of housing stock As part of their statutory housing obligations local authorities must ensure that their properties are kept in good repair. Most now delegate the management and maintenance to a tenant management company. Tenant Management Co-operatives Tenant Management Co-operatives (TMCs) approved by the Secretary of State for the Environment were the first vehicle for putting tenants in charge of their own estates. TMCs can be companies or charitable trusts. They enter into standard agreements with local authorities that can be tailored to meet the particular needs of either party. ....