This summer marks five years of The Ethical Lettings Agency, a social enterprise letting agency based in Redcar.
The agency lets and manages properties for private landlords across Teesside and has a unique housing management operating model that strictly controls rent arrears and voids and delivers a value for money repairs service, combined with supporting tenants.
Over the past two years the numbers of homeless people housed by the agency has grown significantly, reflecting challenging socio-economic conditions across Teesside.
The agency now has a core team of four staff, and by proving its operating model in 2018, Carla Keegans successfully raised £5m of social investment via Bridges Evergreen Holdings to establish a sister company, The Ethical Housing Company.
The property company is socially driven and the money raised is solely to purchase properties that are then let and managed by the agency for people in housing need.
After a successful two years, the housing company is now set for growth and has recently appointed a business development manager to help grow the portfolio, a senior operations manager and a part-time finance director from a ‘big four’ background.
During lockdown, Carla has been working with authorities and local voluntary and community sector organisations to help develop solutions for the many homeless people who were placed into emergency accommodation at the start of lockdown. As such, the housing company is now actively building a pipeline of properties to provide move-on accommodation to help people get back on their feet and prevent homelessness recurring.
Looking ahead to a post-Covid world, Carla says: “The economic recession that is predicted will hit hard on Teesside because we had worse conditions pre-Covid. Landlords considering starting or expanding their portfolios should weigh their options very carefully, as the risk and costs will only increase in the coming months and years.”
If you have property to let or manage please contact the agency on 01642 484845 or email firstname.lastname@example.org.
If you have property to sell, please contact Louise Gilbey on 07555 946853, no fees are charged to sellers.