A social housing company that acquires newly built affordable homes from developers before leasing them to registered providers has entered administration after failing to meet its financial liabilities, with administrators moving quickly to reassure tenants that their arrangements remain unaffected.
RPA1 Limited, a subsidiary of Rentplus-UK Limited and registered at an address on North Fourth Street in Milton Keynes, confirmed it had entered administration following “financial challenges resulting in it being unable to meet its liabilities.” The company has been operating since 2014, according to business information provider Endole, initially registered in Devon before moving to its current Milton Keynes address in July 2023.
Joint administrators Jim Tucker and Steve Absolom of Interpath have been appointed to oversee the process. Their immediate priority is maintaining continuity for tenants and housing providers connected to the company. Tucker said: “We would like to reassure tenants and the underlying occupants of properties connected to RPA1 that it is business as usual. Occupants do not need to take any new action as a result of our appointment, and all existing arrangements remain in place. We are committed to ensuring continuity and minimising disruption throughout the process.”
RPA1’s parent company Rentplus-UK Limited, which describes itself as aspiring to be “the UK’s leading housing provider” and is registered at the same Milton Keynes address, confirmed it is not affected by its subsidiary’s administration.
The collapse adds to a growing list of businesses in the social and affordable housing supply chain to have encountered financial difficulties in recent months, as rising costs and funding pressures continue to put strain on the sector, according to the Express.
