Last week, two years of hard partnership working reached a significant milestone.
Back in 2012, a private landlord and local developer asked Futures Homescape if we’d be interested in working with him to build 18 two bedroom apartments on the site of an old Royal Mail sorting office.
Unlike traditional partnerships between developers and housing associations, the landlord was asking us to lease the apartments for 5 years, paying a guaranteed rental income each month. He wasn’t asking for any capital funding or grant.
Aside from a guaranteed monthly rental income and the hassle free property and tenancy management service we provide, the landlord has benefited from a more competitive finance deal from his lender as a result of his lease agreement with us.
Last week the first tenants moved into their brand new affordable homes (we’ve set the rents in line with LHA to ensure they are affordable). And one of those tenants was our 100th tenant to move into a property leased from a private owner.
I’m thrilled that in just two years, we have built our private sector leasing scheme up from just an idea to managing over 100 properties, including new builds developed without any finance from Futures Homescape, the local authority or central government. What’s more, we’ve got plenty more in the pipeline, including more privately financed new builds.