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Encouraging innovative solutions to the housing crisis

We were delighted to participate in the Young Foundation’s Reimagining Rent programme following the success of our Employer Housing Pledges. The Young Foundation tackles social problems by working alongside communities, using the tools of research and social innovation.

The programme supports initiatives that tackle some of the most pressing challenges in the private rented sector in London, with plans to expand to cities across the UK. Ventures working to support low income essential workers took part in the programme, gaining access to sector expertise, collaboration and networks, pro bono support, and advice on social finance.

The course ended last week with a presentation to potential funders on our idea for extending the tenancy deposit scheme across London, which would help millions of low-income working Londoners avoid debt as they contribute to the economy of the capital. In London, a job does not equal a home – and an employer covering a deposit up to £3000 has a great impact not only for those already in the capital, but in particular those moving to London for the first time. London First presented alongside Cambridge House, Kineara, RentProfile, The Rent Square, Homeless Rooms and Community Sponsor Homes.

Going forward, London First will follow up with the group to foster innovative solutions to the housing crisis. With the lack of housing supply posing a significant risk to recruiting and retaining the people that the capital needs to stay competitive, we will continue to encourage business to act where it is able to.

If you’d like to know more about our Employer Housing Pledges, please contact nryan@londonfirst.co.uk.

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