I needed the cash – Landlord on why he takes 2-year advance from tenants

I needed the cash - Landlord on why he takes 2-year advance from tenants
Home owner

TV3 NewDay had a discussion with a homeowner concerning rent issues n Ghana. Most landlords in the country have refused to adhere to the 6-month rent advance limit. Instead, they charge an advance of two years’ payment before the tenant can move in.

He admitted he knows the laws governing home rentals but decided to go against them because he needed the money. He added that any tenant who refuses to pay is free to go since there is no shortage of people looking for roofs over their heads.

“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 will take two years for th my room. They say, okay, I’m prepared to take it. I bring the contract, and we sign.”

Now he reveals he has changed his strategy in compliance with the economic situation in Ghana. According to him, taking two years now will cause harm to his finances.

“It goes with the economy. I go to the market. For now, if I take two years, I will hurt myself. Now, I’m not taking two years again. I take a year. I will even drop it to six months. If I take two years, by the time the rent expires, the value of the money will have dropped.”

A young woman called Patricia went viral after she shared her experience with her landlady online. Apparently, just a few days before renewal, her landlady increased the fee from ghc350 to Ghc450 per month and wants a two-year upfront payment.

Part VI of the RENT ACT, 1963 (ACT 220), section 19
prohibits Landlords from collecting rent increases without prior notice in writing to the tenant.

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