Private renting should be first choice
Addressing delegates at the Westminster Social Policy Forum Keynote Seminar at Sixty One Whitehall, she added that in order for this to happen roguish elements of the sector need be stamped out, while it also needs “institutional investment”.
Hahn said: “We want to move away from PRS being seen as a second choice of tenure to the first choice.
“I know that colleagues in my division have been doing a lot of work to address standards and drive out rogue landlords.
“There’s the tenants redress scheme and we’re also empowering tenants to understand their rights and know what they are entitled to with the how to rent guide.
“In terms of the new developments these are where the new gains will be made as they will offer a completely different experience to tenants.”
On new accommodation she added: “[It] could be a well thought out communal space; a well thought apartment space with somewhere to put your bike, somewhere to drop Tesco shopping off.
“It won’t happen overnight, but gradually that’s where we will be.”
She said the government’s PRS Taskforce had given the market a boost with its Build to Rent Fund, which is investing £1bn for purpose built private rental accommodation.
According to Hahn 12 contracts are already in place with the commitment of £150m of investment, which will deliver 2,000 new homes.
She added that development groups who previously came to the government for assistance have gone elsewhere to secure finance.
She said: “We can be reasonably confident that the trend of PRS expanding will continue.”
“The market has really taken shape; confidence is booming.”