For the vulnerable and those on low incomes, the failure of the housing system is widespread, with the social and economic inequalities perpetuated by the private rented sector being particularly acute. Poverty among renters has doubled in the last decade, leaving millions trapped in insecure, expensive housing. In addition to a shortage of supply, issues with regulation, affordability, access, quality and security pervade this dysfunctional market. As rents continue to rise, the need for change – especially in high-cost areas – is urgent.
There are many innovations in our communities that are tackling the issues presented by a challenging Private Rented Sector including social lettings agencies, homeshare schemes and ventures working to improve specific barriers like credit histories or large deposits, but we need many more.
The Young Foundation believes that innovation can play a significant role in improving the experiences of tenants in the private rented sector. We have been inspired by initiatives like Dot Dot Dot and Homes for Good in Scotland to launch Reimagining Rent; a unique new programme working with innovative initiatives that are tackling many of the challenges presented by the Private Rented Sector, funded by the Nationwide Foundation.
Reimagining Rent will support these innovations to make this sector work better for vulnerable people and those on low incomes. It will strengthen the innovations’ models, demonstrate their social impact and grow their potential to scale. We will also build 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.
Reimagining Rent launches in London in autumn 2017 and will be delivered in other areas of the UK in subsequent years. Applications are now closed, however, if you have any questions or would like to know more about the programme please contact the team on email@example.com
The Young Foundation’s Reimagining Rent programme is being funded by the Nationwide Foundation, a charitable funder aiming to increase the availability of decent affordable homes for people in housing need.