PRS INITIATIVE OF THE YEAR – Real Lettings Property Fund
PRS INITIATIVE OF THE YEAR
Real Lettings Property Fund
Resonance developed the fund with homelessness charity St Mungo’s Broadway, in response to the lack of transitional accommodation for homeless families and individuals in London. A better option than B&B, it brings stability and new beginnings.
The fund sources and purchases two-bedroom properties in the Greater London area and once refurbished (where necessary), leases them to St. Mungo’s Broadway’s Real Lettings team, which rents them at affordable rates to suitable families and individuals.
It’s a new solution to the housing crisis involving the public, private and third sectors and has for the first time got local authorities directly involved in social investment.