Rich landlords could help the homeless

A new property fund has been launched to in the words of it's founder Daniel Brewer  "deliver real social impact by helping individuals build their resilience to prevent a return to homelessness, progress towards being work-ready and building confidence to eventually move into fully independent private tenancies – all social impacts that will be measured,"

The Real Lettings Property Fund is looking to raise £15m to £20m to start with. This first round of funding will be used to buy up to 100 one- and two-bedroom flats in London in the first year that will let out via its subsidiary company.

The fund will generate an annual income of about 4% including charges, plus a share of the capital growth – expected to be about 3% a year – when  sold. Investors' money will be tied up for seven years, with an optional extra year.

One stumbling block is the minimum £500,000 investment required but the fund is hoping to reduce this on further funding rounds.

Read more in the Guardian

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