More than 100 neighbours who rent their homes from Reading Borough Council could be facing eviction.

Homes for Reading is a council-owned housing company, to consider options for the future of the company.

A tenant called Patryk Bozek fears that him and 100 other households is at risk of eviction as the company could go into administration.

He said: "Unfortunately, as a consequence, Reading Borough Council is considering terminating or not renewing all contracts with the hard working tenants residing in these properties, outlining potential unexpected removal from all  101 properties.”

Mr Bozek who has been a tenant for more than five years, argued that the tenants are 'law-abiding citizens who diligently pay on time their rent bills and taxes'.

He said: “Despite our responsible behaviour, they now face the prospect of unexpected removal, which could have devastating consequences for them and their families.

“The termination of these contracts could potentially render these families homeless or force them to move out of the Reading area.

“This not only disrupts their lives but also poses a risk of job losses and further economic strain on families who are already facing financial challenges.”

He added that the decision will be "devastating", and urged people to sign a petition on to stop the council evicting Homes for Reading tenants.

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The council administration has admitted that it aims to make changes to Homes for Reading.

Its preferred option is to transfer the properties to the council’s mainstream housing stock.

The council stated changes in lending rules, the housing market, interest rates on borrowing, and other factors have affected the viability of the company in the long term.

To transfer the properties to the council’s housing stock, there is a legal requirement for vacant possession, which it is aiming to do once the current tenancies expire.

All 101 tenants will have received the consultation documents and letters explaining the situation, and will offer advice and assistance to all affected tenants to help them find alternative housing.

Ellie Emberson (Labour, Southcote), lead councillor for housing, said: “The difficult financial circumstances all councils now find themselves in mean we have a responsibility to look after our finances to support the provision of services that residents rely on.

“This is one of those difficult decisions but we are not in a position to absorb significant financial losses or significant delays in repaying loans.

“We fully appreciate this is unsettling for affected tenants, but it is important to emphasise that all tenants will be able to remain in their properties until their tenancies expire, some of which run up to 2026.

“The Council is fully committed to working with all affected tenants at the appropriate point to help them find their next home, should they require assistance, and if a decision is made following consultation for the company to cease trading.

“In those circumstances, there is the potential for the provision of more than 100 council tenancies properties at affordable rent levels to help tackle the chronic shortage of affordable housing for key workers in the borough.”

Homes for Reading was set up as an independent but wholly owned Council company in 2016 to buy properties on the open market for rent.