We are making significant reforms to the private rented sector. These include increasing supply through the £1 billion Build to Rent fund and £10 billion guarantee scheme, and providing £6.7 million to address rogue landlords.
The regulatory regime for private sector housing will go some way to protecting tenants, but also give investors in rented housing the confidence and security to invest. Will he provide an update on the consultation process and confirm that additional protections for landlords and tenants could be included if a well streamlined form of regulation could be found?
First, may I reassure my hon. Friend that the £1 billion Build to Rent fund is over-subscribed by £2.8 billion? There is a confidence to participate in that, but it is right that the Government ensure that we protect both landlords and tenants. There is a redress scheme that will become law soon and a tenants charter, and we are really encouraging councils to go out there and pursue those rogue landlords, a small number of individuals, who are undermining this part of the sector.