GREPA advocates enforcement of Rent Act

grepa advocates enforcement of rent act
GREPA advocates enforcement of Rent Act
GREPA advocates enforcement of Rent Act

Source: Graphic Online

Real Estate brokerage firms are losing out on their commissions as landlords fail to adhere to the Rent Act which requires rent advance payment of six months and not two years.

Currently, most landlords in the country are taking two years rent advance from tenants, something the brokers explain inure to their loss of commission.

The Head of Sales at Homes and More Ghana Limited, a real estate brokerage firm, Mr Narteh Tetteh in an interview confirmed this adding that the Ghana Real Estates Professionals Association (GREPA) was advocating for a change in what has become a regular phenomenon.

“In the law they are not supposed to charge two years. It should be six months but they are not doing it and it is affecting real estate agents and brokers. If the landlord takes two years it will be difficult for them to pay you commission,” he said.

Ghanas Rent Act (Act 220) of 1963 and Rent Control Act of 1986 were passed to protect tenants from arbitrary increases in rent and frequent evictions by their landlords.

Although the law clearly defines how landlords should relate to their tenants in terms of rent payment, the quest to get shelter makes it difficult for tenants to argue when landlords require them to pay for two years.

The brokerage firms, who act as intermediaries between buyers and sellers are therefore not able to get their commission because after paying for the two years, their clients claim they have no money to pay them for their services.

The remedy to this situation was therefore to push for the enforcement of the regulation so they can also reap some benefits for their services.

“The regulation is there but we are not enforcing it and therefore as a professional body, we want to advocate for it so everyone will know about it and then it can be enforced,” he said.

Share with a friend

Related posts

mortgage housing

Government to Partner BOG for Affordable Mortgages

  • 29 October, 2020
  • News

Finance Minister, Ken Ofori-Atta says government will work with the Bank of Ghana to introduced special-priced mortgages as part of efforts to bridge the housing deficit.

READ…

Share with a friend
Read More

Real Estate Agency Bill, 2020

Parliament Passes the Real Estate Agency Bill, 2020: What You Need to Know

Great news for the general public and real estate industry players: The Real Estate Agency Bill has been passed by Parliament!

The Ghana…

Share with a friend
Read More

borteyman affordable housing

Affordable Housing Scheme in Ghana to be revived with 200 Units annually

  • 23 October, 2020
  • News

The government has revived the affordable housing scheme to deliver at least 200 housing units for public sector workers annually in a…

Share with a friend
Read More

Comments

  • GREPA advocates enforcement of Rent Act – Business
    21 December, 2016 18:00

    […] post GREPA advocates enforcement of Rent Act appeared first on meQasa […]

Join The Discussion

Search

January 2021

  • M
  • T
  • W
  • T
  • F
  • S
  • S
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31

February 2021

  • M
  • T
  • W
  • T
  • F
  • S
  • S
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
0 Adults
0 Children
Pets
Size
Price

Compare listings

Compare