The Young Foundation

Funding at a glance

Programme: Nurturing Ideas to Change the Housing System
Amount: £238,142
Approved: 2017
Timescale: 30 months

A supported programme working with innovative initiatives that are tackling the problems of affordability and decency in the private rented sector.

Why we are funding this project

To support the development and scaling up of affordable private rented sector housing innovations.

Strategic purpose

More ideas exist on how to protect and increase the supply of decent, affordable homes.

Project summary

The Young Foundation believes that innovation can play a significant role in improving the experiences of tenants in the private rented sector. Using funding from the Nationwide Foundation, it has launched Reimaging Rent; a unique programme working with innovative initiatives that are tackling the problems of affordability and decency in the private rented sector.

Reimagining Rent supports these innovations to make the private rented sector work better for vulnerable people and those on low incomes. It strengthens the innovations’ models, demonstrates their social impact and grows their potential to scale. Organisations each receive a tailored package of mentoring, financial coaching, workshops and access to potential investors and funders.

The Young Foundation is also building alliances and networks with housing stakeholders to increase attention on housing innovation and attract investment, so that ultimately more people have access to safe, secure and affordable homes.

The first cohort of innovations into the Reimagining Rent programme are:

  • Homeless Rooms – A website to match empty rooms, primarily in exempt supported accommodation flats and houses, to homeless people and sofa surfers.
  • Cambridge House Safer Renting – An innovative crisis intervention model to provide specialist advice, advocacy and support to the most vulnerable tenants, including those who are victims of criminal landlords and are least likely to know their rights or access advice.
  • RentSquare – An algorithm that predicts affordable rent prices and uses technology to let properties quickly, reducing void periods down to 10 days and passing those savings onto tenants.
  • 50K Homes – Developing the employer housing pledge, which encourages employers to assist their employees to meet their housing costs and is part of a business-led campaign to double housebuilding in London by 2020.
  • Rent Profile – Technology to enable landlords and tenants to self-background check, create a unique profile and demonstrate credentials and good rental history.
  • Community Sponsors Homes – The UK’s first residential impact investment fund investing in wheelchair accessible properties to rent.
  • Kineara – A social enterprise working to keep private tenants in their homes by preventing eviction and resolving rent arrears issues, including addressing the causes of rent.

The Young Foundation

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