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ALMO meaning in Business ? |
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Answer» What is Arms Length Management Organisation mean? In the United Kingdom, an arms-length management organisation (ALMO) is a not-for-profit company that provides housing services on behalf of a local authority. Usually an ALMO is set up by the authority to manage and improve all or part of its housing stock. Ownership of the housing stock itself normally stays with the local authority. As of July 2008, seventy ALMOs were managing over half of all UK council housing, consisting of more than a million properties. This number has since reduced as local authorities have taken services back in-house or stock has been transferred, of 2016 there are 37 ALMOs who manage nearly a third of local authority housing, approximately half a million council and ALMO homes. reference
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