What is the Ethical Housing Company?

We are a new company set up with a very clear mission, to provide decent quality and affordable housing to those who need it over the long term, in many cases preventing homelessness and ultimately resulting in a higher quality of life for vulnerable people.

Why are we here?

Put simply, we want to ensure people have access to decent and affordable homes for as long as they need them. By providing our homes we know that many people and families will have a better foundation in life. We particularly want to ensure those who are, or have faced, homelessness is included in what we do.

How will we achieve our mission?

We will buy properties, let them at affordable rent levels and maintain them to decent standards. We aim to own properties for up to 20 years thus providing long-term housing solutions for people who currently often have very little options open to them.

Where will we be buying properties?

Across Teesside.

Do we have a blank cheque book to buy properties?

Unfortunately not! We have a very tight financial formula for buying properties. This means that we will buy properties only at a price point that can sustain a sufficient level of gross rental yield at affordable rent levels. This is crucial to serve our mission and scale the model to support more people over time. The yield model takes into account the Local Housing Allowance rate, acquisition costs alongside any capital costs for refurbishment.

Where has the investment come from?

Bridges Evergreen Holdings, which is a permanent capital vehicle managed by Bridges Fund Management, the specialist sustainable and impact investor. Unlike standard private equity funds, Evergreen has no requirement to exit in a finite period – allowing it to provide financial and operational support to the Ethical Housing Company over the long-term.

Bridges has extensive experience in homelessness and property – it has funded 6 Social Impact Bonds aiming to reduce homelessness in partnership with public sector commissioners across the UK and has raised £500m across four Sustainable Property Funds, two of which have made significant contributions to affordable housing in Greater London.

Teesside Pension Fund have invested £5 Million alongside £2.5Million from Big Society Capital.

I have a property to sell. What is the process?

Please contact us on at our office 01642 484845.

Is there a fee for selling my property to you?

No. There is no charge when you sell your property to us. 

Who will let and mange the properties owned by EHC?

The Ethical Lettings Agency CIC (TELA) will let and manage all our properties. TELA operates professional and affordable tenancy and property management services based on many years of housing practice and experience.

How do I rent a property with you?

Please contact our sister company The Ethical Lettings Agency (TELA) if you are looking for a home to rent. You can phone us on 01642 484845. or email us at [email protected]. 

I have a client that needs somewhere to live. How do they contact you?

For all support agencies, community organisations, and local authority teams with potential tenants, please contact The Ethical Lettings Agency on 01642 484845, or at [email protected]. 

What support do you give to tenants?

​TELA does not provide support services directly to tenants but works closely with local and other organisations to access specialist support when this is needed by tenants. TELA provides professional housing management services meaning it ensures tenants can afford a property and understand their responsibilities before letting to them, carries out regular home visits, and assists with housing benefit problems. This all helps to prevent evictions and homelessness.

How long are the tenancies?

We will issue six months Assured Shorthold Tenancies (ASTs) for all tenants initially. Before the six months comes to an end, we will review with the tenant if they want to stay and if so whether they want another tenancy agreement, for how long, or whether they are happy to stay on a rolling monthly tenancy. In TELA’s experience, most tenants are currently happy to be on a rolling tenancy.

How do you evaluate your success?

We have a set of robust indicators for the social impact we deliver. Annually we publish a social impact report detailing our successes, learnings and activities. This will particularly include the numbers of people we have helped who are affected by homelessness.