Resonance is delighted to announce its latest housing provider partnership that will see our new partner, Notting Hill Genesis, take over the management of a number of existing Resonance properties in London.
Notting Hill Genesis (NHG) is one of the largest housing associations in the country, with more than 67,500 homes owned or managed across London and the south-east. They provide homes across a range of tenures and are committed to delivering housing that is affordable for all, building and maintaining quality homes, creating diverse and thriving communities.
Notting Hill Genesis are taking on an initial 100 homes where families are already living as tenants, this number will rise to almost 600 later this year.
While these homes will be a vital lifeline for many families who wouldn’t otherwise have a home, the support provided by NHG goes beyond bricks and mortar. They will be working with tenants to sustain their tenancy and make positive plans in other areas of their lives, such as tackling mental health and addiction issues, and finding employment, training and education. And because the tenancies granted by the fund are longer than traditionally offered in the private rented sector, tenants benefit from this stability, are able put down roots in their community and plan for their future goals.
NHG will provide regular social impact reports to Resonance showing how they are helping residents to gain greater independence and to eventually move into the private housing sector. We expect to be able to share tenant stories and updates in our annual social impact report.
Rebecca Brennan, assistant director of temporary housing for Notting Hill Genesis, said: “It’s really exciting to be adding so many homes to our portfolio. We generally have around 3,000 temporary homes at any time, mainly leased to us by private landlords. This market is harder than ever to access, while demand for stable homes within our communities is very high so an extra 590 homes is a huge boost for us.
“Being able to offer these homes to families in need is something we are extremely proud of and working with an organisation like Resonance which shares our strong social purpose will be of benefit to everyone involved. We look forward to meeting our new residents in the coming weeks.”
John Williams, managing director of property funds at Resonance, added: “This partnership is ground-breaking. It’s vital for us to partner with exceptional like-minded housing partners like Notting Hill Genesis, who have an outstanding record of supporting tenants and providing them with specialist support services as required.
“This partnership represents one of this fund’s largest portfolios of housing and is a great opportunity for us to continue to tackle the housing crisis in London. I am particularly pleased that in transferring the initial tranche of 100 properties we already own to Notting Hill Genesis, we are providing the tenants who live in these homes with continued stability and peace of mind. And I look forward to seeing the successful transfer of additional tenanted properties - plus the new properties the fund is purchasing and refurbishing for Notting Hill Genesis - during the coming year.”
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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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