The Social Rental Housing Guarantee Fund

The Social Rental Housing Guarantee Fund (CGLLS), whose interventions are financed by two contributions paid by social housing organisations, plays a key role in regulating this sector. Its support mission, which has so far focused on supporting organisations in difficulty, is expected to undergo significant developments in the context of ongoing reforms. Its mission to guarantee loans, which has increased significantly since 2016, presents a controlled risk. Its mission to finance housing policy, the most recent, is growing so that it devotes only a small part of its resources to its historic missions. With limited room for manoeuvre to evolve its organisation and management mode, the CGLLS must focus its resources on its founding missions. The rapid adoption of a target and performance contract with its line ministries would clarify its objectives and clarify its means. The Court makes six recommendations. This report is available on [the Court’s website] (https://www.ccomptes.fr/fr/publications/la-caisse-de-garantie-du-logement-locatif-social). The published files correspond to the data used in the preparation of the report.