Brighton Housing Trust has gained its independence.
The trust has been part of a bigger group – Affinity Sutton – for the past five years but has demerged with effect from today (Friday 1 April).
The demerger has been approved by the housing regulator, the Tenant Services Authority.
And Affinity will continue to manage 157 homes owned by Brighton Housing Trust (BHT).
Andy Winter, chief executive of the trust, said: “There has always been a very positive relationship between BHT and Affinity Sutton, particularly in the overall commitment to the provision of community investment which is at the heart of BHT’s work.
“I am extremely grateful for the support we have received from Affinity Sutton during our five years of membership.
“BHT has gained a great deal from this association in a variety of areas.
“We will continue to work very closely with Affinity Sutton but on a different legal basis.”
Mr Winter added: “We will continue on our mission to tackle homelessness, create opportunities and promote change.
“We have taken steps to strengthen our financial viability.
“We have achieved our strategic objectives of diversifying and expanding our service base, thereby increasing income streams while at the same time controlling our cost base.
“BHT is now in the right shape to tackle the challenges and opportunities before it as a standalone, independent organisation.
“This provides BHT with the best opportunity to thrive for the benefit of our residents.”
Mark Perry, group commercial director for Affinity Sutton, said: “We have really enjoyed working with BHT over the last five years and are looking forward to continuing our relationship with them in the future.
“BHT is a well managed and well governed organisation and we believe its specialist housing and legal services and ambitious yet achievable growth aspirations will best be achieved as an independent organisation.”
The trust works with more than 10,000 people, mostly in Brighton and Hove, providing practical and preventative services, advice and legal representation.
It became part of the Affinity Sutton Group in September 2005.