Abstract
The rental sector had been neglected in government housing policy as well as in the local government's resource allocation, though it apprehended a large number of urban dwellers and which will undoubtedly continue in the future. The objective of this study is to examine the rental housing affordability and its implication for low-income households. Specifically, it tried to critically evaluate the characteristics of rental housing, examined how affordable rental housing is and identify the legal and regulatory frameworks governing the rental housing market and finally based on the findings tried to devise a possible alternative that can enhance rental housing affordability. Questionnaires were distributed to 1162 rental households and officials were interviewed to capture their experience on regulatory and administrative issues. Global and local experiences on government housing policy and strategies revealed that the rental housing was less emphasized or in some cases, it was totally ignored. However, inter-census results population of confirmed that rental sectors had contributed a lot in addressing the residential needs of the urban poor and the contribution of the sector in addressing the housing needs are raised from 45percent to 54percent and the reverse is true for the case of home ownership. Results from the survey report confirmed that the rental levels in the sample cities were at the threshold levels. However, this does not mean that rent is affordable; rather the lessee had compromised with the adequacy of housing in order to avoid high rental price. Therefore, government should devise alternatives to promote rental sectors through regulation and policy interventions. Among the possible measures, getting rental housing on the larger urban policy is the first and most important intervention. Government should regulate the rental market through regulatory and policy measures by making balance the interests of both landlords and renters. Keywords: Rent, need for a rental housing, private renters, affordability measures DOI : 10.7176/JPID/50-05 Publication date :June 30 th 2019
Highlights
1.1 Background of the studyHousing is one of the basic necessities for humans and it accounts for the largest share of household consumption expenditure
1.3 The objective of the study The objective of this study is to examine the rental housing affordability and its implication for low-income households
Where there are lots of home choices related to socioeconomic backgrounds, probably, but not definitely, the youth who recently joined the labor market, traveling workers, and the city-based poor are expected to live in the rental housing where home ownership is the prior choice in the housing policies
Summary
Housing is one of the basic necessities for humans and it accounts for the largest share of household consumption expenditure. Though their motives vary, the private sector, the public sector, and civil societies are already producing housing. While the incidence of renting varies considerably across the world, rental housing accommodates a significant proportion of urban residents. Figures from the United Nations Population Centre indicated that an estimated 1.2 billion of the world's population are accommodated in rental housing. The proportions of rentals are higher than that of owners in developing countries than in developing countries, though the size is significant even for the less developed countries. For example, from 1994-2001, 63% of housing tenure in Cairo, 82% in Kisumu, 63% in Addis Ababa, 49% in Lagos, 42% in Johannesburg and 41% in Bangkok were rentals
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