The New Patriotic Party (NPP) has promised that in its next administration, no individual renting an apartment, particularly the youth will pay rent advance to landlords and ladies.
According to the party, instead of the youth paying rent advance to these homeowners, the government will bear the cost directly, make these advanced payments to the landlords and take monthly payments from the youth.
Speaking at the NPP’s weekly press conference at the Alisa Hotel which was carried live on Happy 98.9 FM’s Epa Hoa Daben political talk show hosted by Afrifa-Mensa, the former Communication Director of the party, Nana Akomea said, “Housing is a major problem facing the youth in Ghana and one can’t even find affordable accommodation.
There’s about 2 million deficit in housing and rent is crippling the youth with rent advance being one problem we face more. Some landlord’s take three (3) years rent advance and many people end up taking loans from the workplace and so on. The NPP will relieve the young people of the rent advance system plans to set up the National Rental Assistance Scheme in the next four (4) years”.
He explained that the rent assistance scheme will provide loans to the youth at very low interests rates to help them get proper housing.
“The rent advance will be paid to landlords directly with the beneficiary making a monthly payment to the scheme. You don’t need to think of rent advance again”.
Nana Akomea indicated that the government will set up a seed capital of about $100 million to solve the issue of rent and rent advance.
“This will benefit those in both the formal and informal sectors,” he said.
The politician added that one can benefit from this scheme by proving they have a regular source of income and a National ID.
He assured that the government will implement the necessary policies to make the act work.