New rental housing bird (4)
I believe the answer is:
wren
'bird' is the definition.
(wren is a kind of bird)
'new rental housing' is the wordplay.
'housing' indicates the answer is hidden within the clue (part of the clue houses the answer).
'WREN' is hidden within 'new rental'.
(Other definitions for wren that I've seen before include "one leaving evidence all around London monument" , "Navy girl" , "Small brown bird 'hunted' on St Stephen's Day" , "Bird - former British servicewoman" , "flier" .)