Resonance recently launched its Supported Homes Fund and it’s an investment that really has the potential to make a huge difference to the lives of people living with a learning disability, autism and/or mental health problems.
At the moment, many people with a learning disability, autism and/or mental health problems live in unsuitable and outdated accommodation, unable to live the lives they choose, access the right support networks and engage with their communities. Despite the clear and long-standing evidence that living independently with support in the community has a positive impact on health and wellbeing, for both people with these conditions as well as their families, many initiatives have stalled.
The need for this type of accommodation is only expected to grow in the next ten years due to demographic changes and improvement in health outcomes. More than ever, solutions are required to help providers of housing and support in this sector shift and scale existing provision, even more so given the delays and difficulties arising from the COVID-19 pandemic.
However, many providers are caught between the options of leasing properties on suitable terms with a few well-intentioned landlords, or at scale with long and inflexible terms which has led to significant financial difficulties and failures which, in turn, have led to well-documented criticisms from the housing regulator.
This Fund provides a solution. The Fund will purchase and lease properties to best in class housing and support providers in the sector, starting with Reside Housing Association and United Response. Both organisations have co-designed the solution with Resonance as part of a broader sector engagement process, and this co-development is absolutely essential in order to appropriately address the needs of the sector and create solutions that work for all stakeholders.
With a mission-aligned landlord and investors, the Fund aims to address this by providing fairer and more flexible lease terms, at scale. We expect more providers could benefit from this innovative approach, supporting their mission and helping them scale their impact. We hope this approach can influence broader sector standards, creating wider systemic change beyond just this investment and further support individuals to live with independence and choice.