HOMELESSNESS PROPERTY FUNDS SOCIAL IMPACT REPORT 2023/24
Esayas was one of the first tenants to be housed and supported by the Resonance Everyone In Fund (REIF) shortly after the pandemic. He moved to and settled in the UK with his mother when he was a teenager, and in his early twenties, after his relationship with his partner broke down, he found himself without a place to live. This led to years of homelessness, rough sleeping, drug addiction, poor mental health and the loss of family connections, resulting in him becoming stuck in the revolving door of homelessness.
In our short film, Esayas shares his experience of homelessness and the impact this had on his life and how the stability of his home – alongside specialist support from Nacro, the fund’s housing partner - has enabled him to tackle the issues that have affected him, rebuild his life and to recently move on into his own private accommodation, in Canary Wharf.
Moving On
Resonance’s Homelessness Property funds, including REIF, were originally created with two-year tenancies as the standard, something that has always been well ahead of the private market. This has provided valuable stability for tenants who, on average, stay in a property for just over four and a half years before they move on into their own private accommodation.
There are several reasons why Resonance’s tenants might not move on sooner, including a lack of suitable homes for them to move on to, needing more time to raise families, or having more complex support needs.
As tenants experience stability in their REIF homes, establish routines and build their confidence, independence and life skills, they are further supported by Nacro to plan for moving on into their own home and to continue making progress with other long-term goals such as securing permanent employment and deepening community integration. Importantly, to ensure that the move on is a positive transition, tenants can continue to access support services from Nacro during the first 6 months that they are in their new, permanent housing.
And by moving on, tenants create availability in their previous REIF property for others facing housing crisis and homelessness.
Angelina Bourne, one of Nacro’s RSAP Support Workers and working with Esayas, explains how his new move on property is already having a positive impact on him: “The property Esayas has found is in the Canary Wharf area. So, he’s now moved into the property which is a lifetime tenancy with a housing association. Having his own place has been a massive thing because his son has been able to come and stay with him for a couple of weeks and visit him which is great for their relationship. It’s such a big thing for him because he hasn’t had a relationship with his son up until recently.”
Esayas said, “I’m in the best place now, a better space. I can see the light at the end of the tunnel. It’s very, very important that you have your own key where you can go, lay your head.”
About the Resonance Everyone In Fund (REIF)
REIF operates in London and was launched in early 2021, following the pandemic as part of the government’s ‘Everyone In’ scheme. The fund is providing 56 safe, decent and affordable homes for people experiencing rough sleeping in the capital. As part of the government’s Rough Sleeper Accommodation Programme (RSAP), the fund partnered with Nacro, a national social justice charity, to provide tenants with a refurbished and furnished homes alongside expert and specialist wrap-around support services. This support is enabling tenants, like Esayas, to start tackling and recover from health and wellbeing issues such as trauma, addiction, mental and physical health issues and instead, to find stability and independence. With high levels of support provided over a minimum of two years, REIF tenants can gain the independence and financial resilience that enables them to move on into their own private and longer-term accommodation at the right time for them.
The fund is creating positive outcomes for tenants, including:
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Resonance Impact Investment Limited, a subsidiary of Resonance Limited, is authorized and regulated by the Financial Conduct Authority (FCA). Firm number 588462.
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