The Real Lettings Property Fund² (RLPF²), run by the social impact housing investment company Resonance and charity St Mungo’s, has announced that it has received investments of £15m each from London Borough of Lambeth and Westminster City Council.
RLPF², launched in January 2017, is the second fund on the RLPF template, and invests in residential housing in Greater London.
The fund allows local authorities to select individuals or households who are homeless or vulnerable to homelessness to receive support from Real Lettings, a social lettings agency run by St Mungo’s.
Real Lettings helps its clients maintain their tenancies and move towards greater stability, including finding employment.
Cllr Paul Gadsby, Cabinet Member for Housing at Lambeth, said: “Housing homeless families in the borough is becoming ever harder because of rising demand. At Lambeth council we are determined to do what we can to tackle the local impacts of this London wide issue”.
Following the latest investment, Resonance now manages more than £190m in its homelessness funds, including in a third fund which runs properties across the UK.
