Governance
The apartments or "sets" are individually owned, with the owners known as "Proprietors". Around half are owned by Peterhouse, Cambridge, a college of the University of Cambridge. A "set" that came up for sale in 2007 had an advertised guide price of £2 million. The Albany is governed by a Board of Trustees on behalf of the Proprietors. The annual rent of a "set" can be as much as £50,000 and perspective tenants are vetted by a committee before being allowed to take up residence. However rents can be below commercial levels and sets are rumoured to be allocated on the basis of social connections.
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Famous quotes containing the word governance:
“He yaf me al the bridel in myn hand,
To han the governance of hous and land,
And of his tonge and his hand also;”
—Geoffrey Chaucer (1340?–1400)