Registration as a provider of social housing
Residential Secure Income plc ("ReSI") (LSE: RESI), which invests in residential asset classes that comprise the stock of UK social housing providers, is pleased to announce that ReSI, through its wholly owned subsidiary ReSI Housing Limited (‘ReSI Housing’), has become the first publicly listed investment fund to become a Registered Provider with the Regulator of Social Housing.
ReSI Housing provides a unique proposition to Housing Associations, being a long term private-sector partner social housing landlord who will keep their assets within the social housing regulatory environment. Thus Housing Associations can free capital to fund new developments whilst maintaining responsibility for management, maintenance and letting.
The regulatory environment for social housing emphasises good governance and financial viability, which is embraced by ReSI’s existing strategy, and provides further assurance to ReSI Housing’s Local Authority and Housing Association partners.
Becoming a Registered Provider also allows ReSI Housing to acquire properties that are designated as affordable accommodation and those that are funded by government grant, thusexpanding the range of opportunities available to ReSI.