Matt And Paul: Their Stories Of Homelessness
the story behind the fund
Resonance launched Real Lettings Property Fund 2 (RLPF2) with leading homelessness charity St Mungo’s Real Lettings in January 2017. This followed the success of our pioneering impact property fund Real Lettings Property Fund 1 (RLPF1), which launched in 2013 and raised £56.8m to buy a portfolio of 259 homes across London, and National Homelessness Property Fund 1 (NHPF1) which raised £43.6m to purchase 229 homes in Bristol, Oxford and Milton Keynes following its launch in December 2015.
RLPF2 raised £98.5m and purchased 335 homes all of which, following refurbishment by Resonance, were handed over to St Mungo’s Real Lettings team to house and provide support to tenants. These are families and individuals who had previously faced housing crisis, living in emergency and temporary accommodation, such as B&Bs and hostels.
The homes purchased by RLPF2 are providing much-needed stability for tenants, enabling them to take positive steps forward in other parts of their lives, for example finding and securing employment and training, putting childcare in place, tackling addiction and other health and wellbeing issues and importantly, improving their resilience against homelessness. Tenants are also supported to become financially resilient and to save for a deposit so that when they are ready they can move on into the private rented sector, other social housing or their own home.
In early 2023, the first of most of RLPF2’s tenanted properties started transferring from Real Lettings to Notting Hill Genesis (NHG), one of the largest charitable housing associations in London. Almost all the fund’s properties are now managed, and tenants supported, by NHG.
To date across all Resonance’s impact property funds, around 3,600 people have been housed in over 1,140 homes.
