- Renting an apartment in Ghana is a very big headache for many people because of the one or two years of advance rent charged by landlords
- Some companies have made it possible for people to take loans to rent properties and make repayments on a monthly basis
- This will ease the accommodation burden on a lot of people and make it easier for more people to afford decent places in Ghana
PAY ATTENTION: Click “See First” under the “Following” tab to see YEN.com.gh News on your News Feed!
Landlords have refused to accept monthly payments even when the law states that rent advance should be 6 months at the most. They typically take either 1 or 2 years' rent advance. Some companies in Ghana have heard the cries of citizens in demanding the ability to pay rent on a monthly basis as is done in most parts of the world. Below is a list of such companies compiled by Yen.com.gh.
Renmo: Rent & Pay Monthly
Renmo is a platform that allows tenants to make monthly payments on their apartments. They allow you to either find your own house or look for houses on their website. Either way, they will cover your rent for both alternatives. They charge no hidden fees and they also offer rewards for their most loyal customers who stay with them for a long time.
Rent Masters pay the rent advances of people who are looking for an apartment or a house to rent. If your application with Rent Masters is approved, they will arrange with your landlord and pay the rent advance directly to them. You will then be required to pay back the monthly instalments to Rent Masters on the first of each month.
Download YEN's news app on Google Play now and stay up-to-date with all major Ghana news
Republic Bank is typically known for house financing. They help people obtain loans to buy houses as well as rental apartments. The loans given by Republic Bank to rent homes are done between the bank and your employer. You must be a salaried worker to benefit from this loan scheme. Their rent loans range between GHS 500 - GHS 15,000 and cover items such as land purchases, furniture and medical bills.
Speaking of loans, in an earlier article, Yen.com.gh wrote about the 10 best online loans in Ghana without collateral. Such loans are a lifesaver for many people especially when they need them for an emergency.
Our manifesto: This is what YEN.com.gh believes in