The Councils create Housing Associations that buy the housing stock from the councils and manage it claiming huge Government and EU grants to do so. These "new" housing providers borrow money against the value of the properties to carry out the improvements, rent the properties to the tenants who have been in them all along, charging them higher rents for the improved properties and giving them forms to claim their rent rebates from ....... the local council who sold them the houses.
It is worthy of note that the displaced Housing Officers from the councils who no longer have a housing stock to manage are normally employed by the Housing Associations.
I think it's called Swings and Roundabouts
