GREDA Backs One-Year Rent Advance Cap Under New Rent Bill
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Ghana’s real estate industry is witnessing a major shift as GREDA supports a proposed cap on rent advance payments. The move signals growing momentum for reforms aimed at easing tenant financial pressure and formalising the rental market.
Ghana’s real estate industry is witnessing renewed debate after the Ghana Real Estate Developers Association (GREDA) endorsed proposals in the new Rent Bill to cap rent advance payments at one year. The proposal aims to reduce the heavy upfront financial burden on tenants and bring greater structure to the rental housing market. In many urban centres, landlords commonly demand up to two or three years’ rent in advance, a practice the bill seeks to reform through stricter limits and the creation of a dedicated Rent Authority with stronger enforcement powers. GREDA’s support is notable given its influence in the property development sector and signals growing alignment between industry players and housing reform efforts.
Read the full story at [https://www.myjoyonline.com/one-year-rent-advance-is-fair-greda-executive-director-backs-new-rent-bill/]