Redcar-based The Ethical Housing Company (EHC) has completed the acquisition of its first portfolio comprising 27 homes in the Stockton area.
EHC was established in early 2018 as a socially responsible landlord. It is buying properties across the Teesside region in order to provide decent and affordable rented homes and aims to be a long-term presence in the region.
All EHC properties are managed by The Ethical Lettings Agency CIC – a social lettings agency that also lets and manages properties on behalf of other local landlords.
Demand for private rental housing in Teesside continues to outstrip supply. By building up a portfolio of quality affordable homes to rent, EHC hopes to help meet this demand – while also acting as a force for long-term stability in the local housing market.
EHC founder and director Carla Keegans said: “We’re delighted to have completed on our first portfolio acquisition.
“Buying properties off-market and in bulk is a great way for us to quickly increase the number of properties we own – which allows us to help more people in housing need.”
Teesside-based law firm, Archers Law, advised EHC on the acquisition. Associate solicitor Emma Foxley said: “We were delighted by the opportunity to work with EHC on its first portfolio acquisition.
“EHC’s strong commitment to Teesside aligns very closely with Archers. The transaction required a strong team, familiar with managing large scale portfolios and the issues facing private landlords.”
EHC is now actively seeking to make further acquisitions, with a focus on private landlords who are looking to sell, possibly as a result of new regulations and tax cuts affecting the PRS.
Carla added: “For anyone wishing to sell their residential property in the Teesside area, EHC is a compelling option.
“We are backed by a socially motivated institutional funder called Bridges Evergreen Holdings, which has a simple and transparent buying process, with fair prices and no fees.
“We make initial offers quickly, so landlords can decide whether or not to proceed, and can complete purchases within a two-month period.”
For private landlords interested to find out more, EHC is hosting an event on Friday, September 27, at TunedIn on Redcar’s seafront (12-2pm), when these issues will be discussed in more detail.
Anyone who has residential property to sell in the Teesside area can contact Carla.