RPA1 enters administration as Interpath seeks to protect affordable housing portfolio

RPA1 Limited, an affordable housing property company within the Rentplus group, has entered administration after financial pressures left it unable to meet its liabilities. James Tucker and Stephen Absolom of Interpath were appointed joint administrators on 29 June 2026. The appointment applies only to RPA1 and does not extend to its parent, Rentplus UK Limited.

RPA1 acquires newly built affordable homes from developers and leases the properties to registered housing providers, which manage the homes and grant tenancies to qualifying occupants. The structure forms part of Rentplus’ privately funded rent-to-buy model, under which tenants pay below-market rent while preparing to purchase their homes.

The joint administrators have taken control of the company and are working with housing providers, tenants and other stakeholders to maintain the existing arrangements. Interpath said the administration is not expected to affect the underlying occupants, who have been told that their tenancies remain in place and that they do not need to take any action.

RPA1 was incorporated in December 2014 and is registered as carrying on real estate acquisition and housing association property rental activities. Its property portfolio is subject to a series of security interests in favour of M&G Trustee Company Limited, acting as security trustee, with 15 outstanding charges recorded at Companies House.

Rentplus’ model uses institutional capital rather than government grants to acquire homes delivered through affordable housing obligations. Properties are leased to housing associations and typically offered at rents of about 80% of market levels, with tenants later given opportunities to buy and receive a gifted deposit toward the purchase.

The administrators have not yet disclosed the scale of RPA1’s liabilities, the number or value of properties held by the company, or their intended exit strategy.