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In search of profit: housing association investment in private rental housing

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  • A. D. H. (Tony) Crook
  • Peter A. Kemp

Abstract

The traditional mission of housing associations in England is to provide non-profit housing let at sub-market rents to low-income and disadvantaged households. And yet in recent years, large ‘property developer housing associations’ have begun to invest in for-profit private rental homes let at market rents. Despite long waiting lists for their accommodation, these housing associations are mainly letting their for-profit rental homes to middle-income tenants rather than their traditional low-income clientele. Drawing on a ‘historical institutional’ conceptual framework, and combining structural and ‘agency’ explanations, this paper explores the reasons for this new trend. It argues that investment by large developer housing associations in for-profit and more upmarket rental homes will become increasingly important relative to their non-profit social housing. Over time, this ‘partial recalibration’ of their landlord role is likely to gradually transform the institutional rules, everyday practices and norms that shape their behaviour.

Suggested Citation

  • A. D. H. (Tony) Crook & Peter A. Kemp, 2019. "In search of profit: housing association investment in private rental housing," Housing Studies, Taylor & Francis Journals, vol. 34(4), pages 666-687, April.
    • Handle: RePEc:taf:chosxx:v:34:y:2019:i:4:p:666-687
    DOI: 10.1080/02673037.2018.1468419
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    Cited by:

    1. Chen, Jie & Wu, Fulong & Lu, Tingting, 2022. "The financialization of rental housing in China: A case study of the asset-light financing model of long-term apartment rental," Land Use Policy, Elsevier, vol. 112(C).
    2. Raco, Mike & Ward, Callum & Brill, Frances & Sanderson, Danielle & Freire-Trigo, Sonia & Ferm, Jess & Hamiduddin, Iqbal & Livingstone, Nicola, 2022. "Towards a virtual statecraft: housing targets and the governance of urban housing markets," LSE Research Online Documents on Economics 114315, London School of Economics and Political Science, LSE Library.
    3. Cody Hochstenbach & Richard Ronald, 2020. "The unlikely revival of private renting in Amsterdam: Re-regulating a regulated housing market," Environment and Planning A, , vol. 52(8), pages 1622-1642, November.
    4. Yiru Jia & Nicky Morrison & Franziska Sielker, 2023. "Delivering common property in Chinese contractual communities: Law, power and practice," Urban Studies, Urban Studies Journal Limited, vol. 60(16), pages 3272-3293, December.
    5. Dunning, Richard J. & Moore, Tom & Watkins, Craig, 2021. "The use of public land for house building in England: Understanding the challenges and policy implications," Land Use Policy, Elsevier, vol. 105(C).

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