A unique Teesside housing company is calling on the region’s business community as it looks to buy more properties for locals with a housing need.
The Ethical Housing Company (EHC) is an innovative new company established to provide long-term, affordable, privately rented homes across Teesside.
Redcar-based EHC is largely buying one-to-three bed properties, up to the value of £76,000, and can buy homes empty or tenanted, and in bulk. There are no fees to sell to EHC, while the company has surveyors and solicitors in place to ensure quick completion times.
EHC has a clear social mission to provide homes to those in housing need, including homeless people and families.
Around 20% of Teessiders rent privately, with almost 50% of these on low incomes and needing to claim benefits to help pay their rent. These figures are much higher than the national average, reflecting the high numbers in low paid and insecure work or unemployed.
EHC director Carla Keegans founded the company earlier this year after running The Ethical Lettings Agency (TELA) since 2015 and seeing the scale of housing need in the Teesside area.
Carla said: “Many people are excluded from getting a rented home because they don’t have perfect credit scores, don’t have enough money to pay up-front, or simply because they are in receipt of benefits.
“Many are forced to live in unsuitable properties – often damp or unsafe. We believe everyone needs a decent home and we’re working to achieve that in Teesside.”
Carla worked with Bridges Evergreen Holdings – one of the UK’s largest impact investors – to secure an initial £5m solely for the purpose of purchasing properties in the Teesside rental market. It is envisaged that as more properties are acquired, more investment will follow.
All properties owned by EHC are let and managed by The Ethical Lettings Agency, a social enterprise agency, also based in Redcar.
If you or your clients have property to sell, please get in touch with Carla Keegans on 01642 484845 or email firstname.lastname@example.org.