Capital Letters is being established by 13 London boroughs initially, with the support of the MHCLG and London Councils. It is intended that more London boroughs will become members of the company in future phases, so that Capital Letters will become the main source of private sector accommodation to prevent and relieve homelessness in London. The company enables the London boroughs genuinely to act together in procuring accommodation for renting, rather than competing with each other for accommodation across London.
By pooling resources and sharing expertise, Capital Letters will provide a better service to both Private Sector Landlords and Tenants. It will make more efficient use of resources and become a more significant participant in the London Housing market.