Leading build-to-rent portal LovetoRent says a new ‘minister for renting’ would improve tenants’ conditions and raise landlords’ game.
Founder and CEO Anne-Marie Brown (pictured, above) believes that it’s currently overseen by the same housing minister – with a focus on increasing rates of home-ownership – this can be to the detriment of the rented market.
In a letter to Boris Johnson, she and other build-to-rent players including Arcadis, Folio and Hera, explain that the formal appointment would oversee and raise standards for millions of people currently in rental accommodation, much of which is not fit for purpose.
“It would enforce standards on landlords who do not comply and encourage and play a part in the growing build-to-rent sector which has the ability to improve lives for the future,” says Brown.
They point out that build-to-rent is soon expected to be worth £550 billion, while the percentage of the population living in private rented accommodation is projected to rise to just under 40% by 2025, overtaking owner-occupiers for the first time.
“As the number of people renting rises and the profile of renters changes, with more families and older people choosing to rent, we need to refocus the agenda, placing more emphasis on improving conditions for renters, including holding landlords to account for poor performance, and promoting longer more secure tenancies,” says Brown.
Richard Jones, head of residential and regeneration at planning and design giant Arcadis, adds: “The Government should recognise that providing appropriate places to live should be their focus with the growing rental market being a key element, not just home ownership.”