The challenge
In London, many people ready to leave homelessness remain trapped in temporary housing. Without deposits, references, or tenancy histories, they are shut out of the private rental market, blocking pathways to stability.
Our approach
The Fund, managed by Resonance, purchases homes and leases them long-term to housing partner, Notting Hill Genesis. These are sublet to individuals as stepping-stone tenancies, helping them build skills and confidence to re-enter mainstream renting.
The Fund
The Real Lettings Property Fund was developed by Resonance and homelessness charity, St Mungo’s. The Fund provides homes for people 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. The housing partner also provides personalised coaching and support for tenants to prepare them for a successful and planned move into independent accommodation.
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Fund size
£57 million -
Better Society Capital commitment
£15 million
Key information
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Geography
London -
Investment type
Property -
Fund manager
Resonance -
Investment status
Current -
Investment date
2013 -
Term
22 years
Impact
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Number of households supported
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Number of tenants that are children
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Percentage of positive or neutral move-on tenants
Sustainable development goals
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1: No Poverty End poverty in all its forms everywhere -
3: Good Health and Well-being Ensure healthy lives and promote well-being for all at all ages -
10: Reduced Inequality Reduce inequality within and among countries -
11: Sustainable Cities and Communities Make cities and human settlements inclusive, safe, resilient and sustainable
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Other investors
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Key partners