Cabinet Of Ghana Approves Draft Rent Bill Which Is Expected To Be Passed Into Law In Parliament
- The Cabinet of Ghana has given their assent for the draft rent bill to be deliberated on and seriously considered in Parliament to be passed into law
- The bill states that landlords that require rent payments in advance for periods longer than one month in monthly leases or leases that are more than one year in length are breaking the law
- The bill is anticipated to be discussed by the Parliament of Ghana soon to become a law that will ease the rent burdens of Ghanaians
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The Minister for Works and Housing, Francis Asenso-Boakye, said that Cabinet had approved the draft rent bill and suggested that Parliament take it up. The measure is anticipated to be discussed by Parliament soon to become law.
Source: UGC
On November 13, Mr Asenso-Boakye said at a press conference that property owners who require rent payment in advance for more than one month in a monthly tenancy, or a tenancy that is shorter than one month, or for longer than one year in a tenancy that is longer than one year, commits an offence that is stated explicitly in the bill.
The present rent law, he said, was adopted fifty-nine years ago and is today no longer necessary. He claims that the assessment aims to eliminate fundamental barriers and incentivise private sector investment in the rental accommodation market.
As Parliament is ready to evaluate the draft law, he urged all Ghanaians to take a keen interest in the review engagements and help it be adopted by conveying their opinions and expectations to their respective Members of Parliament.
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Why Landlords In Ghana Charge 1 Or 2 Years' Rent Advance Instead Of Charging Monthly Rent
YEN.com.gh previously covered the issue of why Ghanaian landlords want one or two years' worth of rent upfront. While other countries merely pay a monthly charge, Ghanaian landlords insist on lengthier lease agreements and frequently demand one or two years' payment upfront. To ensure that the rental market is more favourable to Ghanaians, the government has to enact strict rules. This is what the draft rent bill seeks to solve.
Source: YEN.com.gh
