No. Privatisation involves the sale of a public utility (e.g. gas, electricity) to a private company which trades for profit and pays dividends from these profits to its shareholders. By contrast the transfer of council housing is always to a housing association or charitable housing trust which does not operate to make a profit or pay dividends to its members.

Organisations of this type are registered, hence the term Registered Social Landlord (RSLs), with the Housing Corporation who monitor and regulate the organisation to ensure that it meets certain standards.

Tower Hamlets Community Housing (THCH) is a not-for profit housing association and a registered charity. Any surplus money will be used to benefit residents.