The National Homelessness Property Fund LP

The challenge

People across the UK at risk of homelessness are trapped in temporary accommodation like bed and breakfast. This is often of low quality, delivered at a high cost for local authorities, and produces poor social outcomes. The Real Lettings Property Fund was established in London to tackle this issue in 2013 but required funding to scale into new areas.

Our approach

We worked with Resonance to secure local authority funding for new areas. To catalyse first-mover local authorities, we offered to match £15 million of funding for the first three local authorities who offered to invest. Oxford, Milton Keynes and Bristol came forward, and the model has grown from £16 million to over £250 million of funding across the country.

The Fund

The fund provides homes for individuals and families in temporary accommodation or at risk of homelessness, helping them become more independent and enabling them to make positive developments in other areas of their lives. St Mungo’s and DHI lease the homes from the fund, manages the tenancies and supports the tenants to move into more permanent rented accommodation.