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What is rental housing?

The most unaffordable basic necessity is undoubtedly a roof over the head. Leave aside owning a house, even taking a small house on rent in most metros is unaffordable. Things get more difficult for those who move to bigger cities from smaller towns for education and employment. Though the government has ambitious plans of providing “housing for all by 2022”, it is not easy to buy a house. To supplement the need of housing, the government has been planning to bring in “rental housing”. According to the National Urban Rental Housing Policy (Draft) 2015, issued by the ministry of housing and urban poverty alleviation, rental housing refers to a property occupied by someone other than the owner, for which the tenant pays a periodic mutually agreed rent to the owner. The need for rental housing was first mentioned in National Housing Policy 1988, but not much has been done so far. In January this year, the Punjab cabinet approved a policy on rental housing for students, corporate professionals, senior citizens, migrant labourers and others in the state.

Source : Mint