The Executive Director of the Ghana Real Estate Developers Association (GREDA), Samuel Amegayibor, has thrown his weight behind the government’s proposed Rent Bill, which caps rent advance payments at one year.
In comments on the heated debate over rent reforms, Amegayibor called the one-year limit “fair.” He pointed out that landlords often demand two years’ advance or more when they can putting immense financial strain on tenants.
“For me, I think the one-year rent advance is fair,” he said. “Landlords normally take two years’ advance now and more if they have the opportunity. But they have to appreciate that it doesn’t come easy for people to raise those huge funds just to settle rent.”
Amegayibor highlighted the struggle for many Ghanaians, especially young professionals starting out, to scrape together lump sums for multiple years’ rent. “It’s a mutual consideration between parties,” he noted. “If they understand the need to limit or not demand too much at a time, it will go a long way to help, especially the young ones who have just started life.”
He broke it down further: monthly rents in the thousands of cedis, multiplied by 12 or 24 months, create totals that are “a bit on the high side for people.”
The remarks come as the government advances its Rent Bill to restrict advances to one year, impose penalties for breaches, and tighten rental sector regulations. While opinions remain divided, Amegayibor’s support underscores rising backing from real estate developers for tenant-friendly changes that foster a fairer housing market.
Story by: Mercy Addai Turkson#ahotorfmonline.com