2026 National Two Sessions | National People's Congress representative Richard Yu: Promote the rental market from "having a place to live" to "having a quality living" through professional institutionalized housing rental enterprises

China National Radio reported from Beijing on March 12 (Reporter An Yan) that this year's government work report proposed "implementing city-specific policies to control increments, reduce inventory, optimize supply, explore multiple channels to revitalize existing commercial housing, and encourage the acquisition of existing commercial housing primarily for affordable housing," as well as promoting the construction of "good houses." This marks a shift in the real estate industry from "scale expansion" to a new development stage of "quality improvement." In this context, what changes will the housing rental market undergo? How can the concept of "good houses" be deeply integrated into the housing rental market? (National People's Congress representative and President of Liaoning University, Yu Miao Jie, provided by the interviewee, China National Radio) Yu Miao Jie, a representative of the National People's Congress and President of Liaoning University, pointed out in an interview with China National Radio that the government work report has indicated two key upgrade directions for the housing rental market. One direction is that the industry's core focus shifts from "incremental construction" to "revitalizing existing stock"; the other direction is that housing rental shifts from meeting "basic housing needs" to "providing quality housing." By institutionalizing professional housing rental forces, it is possible to achieve long-term high-quality operation of affordable rental housing (hereinafter referred to as "affordable housing") and transform a large number of scattered idle housing resources in cities into high-quality rental products that meet modern living needs. In response to the challenges faced by affordable housing, such as low rental rates and high operational pressure, Yu Miao Jie believes that it is necessary to encourage the introduction of institutionalized professional housing rental forces to further achieve long-term high-quality operation. In the initial phase of projects, the "data-driven judgment" capability of institutionalized professional housing rental can accurately identify target groups, avoiding supply-demand mismatches; during the operational phase, leveraging mature product development and lease service systems can promote the transition of affordable housing from "being built" to "being well-managed and stable." Data shows that currently about 90% of rental housing sources are individually rented, generally facing issues of low quality and lack of services. To meet the new demand for "quality housing," Yu Miao Jie stated, "It is essential to cultivate a batch of strong and reputable institutionalized professional housing rental enterprises." Institutionalized operations can not only provide standardized renovations and smart home experiences but also build a comprehensive service matrix covering the entire lifecycle of renting, from pre-rental to during and post-rental. Regarding policy support, Yu Miao Jie called for the implementation of precise support measures, such as providing temporary tax rate reductions for professional institutions to lower operational costs; establishing special support funds and financial subsidies to focus on supporting institutions in the renovation and large-scale operation of idle assets; and encouraging institutionalized professional housing rental to deeply participate in revitalizing existing housing and operating affordable housing projects through methods such as franchising. The precise drip irrigation of policies will help promote the rental market's genuine transition from "basic housing needs" to "quality housing."