Landlord Explains Why He Demanded 2 Years' Rent Advance Despite Knowing The law: "I Needed Cash"

• A landlord in Ghana defended his decision to collect two years' rent in advance from tenants, which defies the country's rent laws
• He explained that he knew the law but that following it would hurt him deeply since he needed money
• The landlord stated that the country's rent laws might frown upon taking two years' rent in advance, but what mattered most was finding a tenant to agree to his terms

A landlord in Ghana defended collecting two years' rent in advance from tenants and acknowledge that he is aware of the law but that following it will hurt him.

In an interview, the elderly landlord admitted to receiving two years' advance payments from prospective renters about a year ago, knowing that if discovered, he may go to jail for breaking Ghana's rent law. However, he claims the legislation is irrelevant after the tenant agrees to pay the two-year advance rent.

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He explained during the interview:

I was taking two years. I needed the money. I know (about the law), but I needed the cash. The tenant came, and I said I would take two years for my room. They say, okay, I’m prepared to take it. I bring the contract, and we sign.

The elderly landlord revealed that he had to deliberately cease collecting two years' advance payment and switch to one year, with intentions to cut it to six months to prevent a scenario where the money loses value before the lease expires.

Watch the interview below.

According to Ghana's rent law, every property owner must take up to six months' rent up front from tenants. However, due to a lack of enforcement, the law is constantly broken to the detriment of renters.

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Real estate expert explains why the National Rental Assistance Scheme will not help Ghanaians

The government of Ghana launches National Rental Assistance Scheme to help solve rent problems in Ghana.

In an earlier story, YEN.com.gh wrote about how the current government has formally launched the National Rental Assistance Scheme to address Ghana's rent issues. The program's objective is to make renting more accessible and affordable for all Ghanaians. Adult Ghanaians with a valid national ID card and a verifiable source of income are eligible for the program.

Source: YEN.com.gh