Large Scale Voluntary Transfer (LSVT)
The process by which a local authority (council) transfers the ownership and management of its housing stock to a not–for-profit Registered Social Landlord.
(Before the transfer can take place, a vote is usually conducted to see if tenants are in favour of it. If they are not, the local authority cannot go ahead with the transfer).
The new landlord takes over the responsibility for managing properties, rent collection, repairs, maintenance etc. The local authority continues to manage all non-housing related services (such as refuse collection, street lighting etc.)