In answer to the above, Troutman, on paper your idea sounds great.
Except that the HA sector is so badly run that Government, understandably, does not want to shower them with money. Only 4 HA's in the country were AC 3 star rated. We hear nothing but complaints about poor management and overcharging from tenants of HAs on the pages of this forum. Normal working people would not choose to live in a HA property and it's quite understandable to see why. They are perceived quite rightly as just another extension of council housing, the same as an ALMO or retained stock LA except even more badly run and less accountable as you cant vote the management out every four years. HA management come and stay forever, North Korea style. Who would want that?
If HA's want to make themselves attractive to normal people they need to break from the past. No more taking tenants from the council's priority "needs" lists, run themselves efficiently in the manner of a private landlord, open waiting lists available to anyone, acceptance on the basis of merit, actual enforcement of terms of tenancy with all new tenancies to be AST not assured so that possession no longer costs £30K of court, solicitor and barrister time. Then, HA's could provide some serious competition to the private sector. But until that happens, they will remain no more than the bastard son of the local council's housing department with about the same level of attraction to the average working private sector renter...