Our seven residential homelessness property funds provide life changing homes and solutions for people facing housing crisis. Since 2013, around 3,000 people, including over 1,000 children, have been housed by these funds.
However, thousands more people need a safe place to live too. In 2022, the numbers of people living in temporary accommodation increased to the highest level in 18 years:
We improve homes and change lives
Our property funds purchase one-bed and family properties in local communities across the UK, chosen in conjunction with the funds’ expert housing partners. Once purchased, the experts in our property teams refurbish the properties to a high standard, including improving their energy efficiencies and EPC ratings, and once refurbished, hand them over to our housing partners to find the right tenant for the right property and then manage the tenancies and provide ongoing support to tenants.
Having a decent and affordable home to live in provides tenants with stability and to feel settled and secure, able to rebuild their lives.
Creating high-quality homes
In line with the government’s recommendation that all private-rented homes should have an Energy Performance Certificate (EPC) rating of C from 2025, Resonance’s property fund renovation teams work with expert contractors to enhance the environmental credentials of every property during post-acquisition refurbishment, and on an ongoing asset management basis through reinvestment and retrofit innovation and grants.
One of the properties Resonance’s National Homelessness Property Fund 2 purchased in late November 2022 was a two-bedroom, terraced house in Wigan, Greater Manchester.
Whilst this property already had loft and cavity walls insulation – which incredibly meant it had already achieved an EPC C rating - it was nonetheless in a dilapidated state when purchased. It had suffered from water damage, general neglect, rodent infestation and vegetation overgrowth in the garden.
The kitchen had been poorly maintained and just like the master bedroom had had severe water and mould growth and the back garden was overgrown with an unstable brick outhouse.
Works to make the property decent, clean and energy efficient included a new roof, new boiler, windows, internal and external doors, new kitchen and bathroom, rewiring, plumbing and tanking. In just six weeks, thanks to the fund team’s established and trusted partnership with local contractors, the property was transformed into an unrecognisable and beautiful family home.
Watch our short tour of the refurbished property here.
Having undergone extensive refurbishment and being made more energy efficient, the upgrades our expert team made to the property mean that this once-eyesore in the local community, is now back in a habitable state with a significant amount of value added to it. The pest problem that was also affecting neighbouring properties has been addressed, and the roof works and damp proofing now benefits adjacent properties, stopping any potential transference of water from our property to theirs. This property is now clean, bright, welcoming and warm – thanks to its energy efficiencies – helping to reduce energy costs for its new tenants.
Resonance Property Development Manager, Alexander Reeve, said: “The project was a great experience from start to finish and showed the positive impact we as a business can have when we engage with the right people and collectively focus our efforts.”
NHPF2 is currently buying properties in, and partnering with housing partners, across the UK, including Greater Manchester, Bristol, Oxford and Liverpool City Region, delivering both a risk-adjusted return and social impact to investors. With ambitions to expand across the UK, the fund aims to raise £300 million from institutional impact investors such as pension funds, foundations and local authorities. This will enable it to acquire around 1,500 homes and to house around 16,500 people over its 15-year lifetime.
FIND OUT MORE ABOUT NATIONAL HOMELESSNESS PROPERTY FUND 2 HERE.
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Resonance Limited is a company registered in England and Wales no. 04418625
Resonance Impact Investment Limited, a subsidiary of Resonance Limited, is authorized and regulated by the Financial Conduct Authority (FCA). Firm number 588462.
Disclaimer: This website does not contain, constitute, nor does it form part of, an offer to sell or purchase or a solicitation of an offer to sell or purchase, any securities, investments or financial instruments referred to herein or to enter into any other transaction described herein. Resonance is not providing, and will not provide, any investment advice or recommendation (personal or otherwise) to you in relation to any securities, investments or financial instruments or transactions described herein. Whilst all reasonable care has been taken to ensure the accuracy of the information contained in this website, neither Resonance nor its officers accept any liability for its contents or for any errors or omissions.
