The conversion course must be too easy if they have enough time to do that. Also remember that new joiners had the option of renting while those already in the company didn't. Lots of new joiners were opting to rent, while those already employed had to buy a house to move out company accommodation. It wasn't fair, but those were the rules.
There is no rule that states you can't sell your property and then rent. So still think this conspiracy theory is flawed.