There are a number of specialist private rented sector (PRS) lettings schemes which act in a similar way to ‘High Street’ lettings agencies.
A lettings agency acts as a broker for rented property between a landlord and prospective tenants. They will charge a fee to the landlord and often to the person who takes on the tenancy (but they are not allowed to charge a fee simply for joining the agency).
Most High Street lettings agencies will not provide a service to homeless people - partly because of the high demand for rental property, particularly in London, and partly because of perceptions about unemployed people (the ‘No DSS’ culture still prevails).
This is why specialist ‘social letting’ agencies have emerged over recent years. A social lettings agency operates in a very similar way to a High Street agent, in that they broker tenancies between landlords and tenants. But they differ in a number of ways:
- They are normally run by charities, and therefore are not there to make a profit.
- They are specifically targeted at individuals and groups who would not normally be able to use a High Street service (such as homeless or unemployed people). As such, they aim to provide a person-focused service.
- They are often linked into other services or support, either run by the host charity or by a partner agency.
- To offer an attractive and competitive package to landlords, they would normally charge lower management fees than a High Street agent.
- They will try to develop good working relationships with, and provide support to, landlords that let their properties through their scheme.
You can look at our database of
PRS schemes in London to find out about the social letting agencies that operate in London.
We are funding two schemes, at
Broadway and Threshold as part of our
PRS grants programme.