Residential Secure Income becomes registered social housing provider

Residential Secure Income announced on Monday that, through its wholly-owned subsidiary ReSI Housing, it has become the first publicly-listed investment fund to become a registered provider with the Regulator of Social Housing.

The London-listed firm said ReSI Housing provided a “unique proposition” to housing associations, being a long-term private-sector partner social housing landlord who would keep assets within the social housing regulatory environment.

Thus, it claimed housing associations could 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,” the board said in its statement.

“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, thus expanding the range of opportunities available to ReSI.”