Ethical business: PH4L – Plymouth Homes 4 Let

By PRSD, on Thursday, May 7, 2009

PH4L (Plymouth Homes for Let) is a professional property management service social enterprise. They got in touch to explain a bit more about what that means

Explain your business.
Path helped to set up a social enterprise Letting Agency called Plymouth Homes4let (PH4L).

This is a property management agency which seeks to manage properties on behalf of landlords charging them a competitive fee to do so. The agency specialises in working with tenants in receipt of Local Housing Allowance, and seeks to prevent and reduce homelessness by accommodating people in housing need.

What’s your background?
Our background: We are a homelessness charity which has been operating in Plymouth for the past 15 years. We provide a range of services to people who are vulnerable to homelessness, helping them to access and maintain appropriate accommodation.

Why do your ethics play such a strong role in your business, and how does it apply to what you do?
PH4L exists for two reasons. One to provide a quality lettings service to landlords, the other is to help house homeless households.

What have you achieved with what you do?
Plymouth Homes4Let is very busy taking on new properties all the time. In time is will help to prevent and reduce the number of homeless people in Plymouth.

What was harder to implement than you thought it would be?
Some of the most difficult things in setting up has been the registration of the company at Companies House, and the delays in setting up bank accounts. This delayed our start of trading date. But we get a steady stream of both landlords and tenants, so the lettings side works very well.

What has been the unexpected benefit, if any, to you, your business or the community?
The Economic Downturn! The property market slump has led more owners to consider renting out properties rather than sell them. With this increased number of properties on the market available for rent, PH4L has had a very busy time.

What have you learnt and what advice would you give to others thinking of starting a social enterprise?
Make sure you know you market before taking the plunge. We spent years researching our model before setting up, and knew it could work. We had a lot of people doubt that we could make it work – and had to work hard to prove that it could be a success – and it was worth it.

How do you view the future?
We are confident that PH4L will continue to grow and will become a well established professional lettings service in Plymouth.

Anything else you’d like to say?
Have a look at our website: www.plymouthhomes4let.co.uk