Acquired off-market
01A three-bed semi-detached house secured for £176,486, off-market, at genuine municipal pricing — refurbished to the UK Government’s Decent Homes Standard before completion, with freehold registered in the owner’s name at HM Land Registry.
Leased under pass-through
02A Registered Provider signs the lease and claims the rent from the local authority — with terms contracted per property, in writing, before you commit; this product carries no fixed headline term. The pass-through design re-claims against current government thresholds, avoiding the fixed-rent decay of older social models.
Shielded by structure
03Maintenance, utilities, tenant support and lifecycle repairs come out of the gross claim. Service-charge surplus builds toward a ~£9,300/yr sinking fund, and the operator’s fees stay tied to occupancy — maintenance never knocks on your door.
Stress-tested first
04Your income is not contracted — it moves with occupancy, so the bad year is modelled first. At 48% occupancy the same house still pays £1,404/mo — the scenario where the maths still breaks even at 10% net. At the 70% target it pays £2,153/mo; the operator’s fees fall with yours, and the partner’s wider portfolio runs at 99% historical organic occupancy.
The modelled asset — a refurbished three-bed semi in the Northern corridors. Illustrative.
“Maintenance never knocks on your door.” The service charge shield · lease terms



