Alpha Mead Facilities, Ghana (AMF), a Facilities Management Company, on Tuesday, launched “Rent4Less”. This is a product-service initiative in Accra to support Government’s initiative to help Ghanaians meet their shelter needs.
Additionally, the product is meant to transform the housing and office rental market in Ghana through an innovative system of flexible rent payment. Reverend Kennedy Okosun, Chairman, Board of Directors for Alpha Mead Facilities(AMF), Ghana, said the product would drive a new culture of rent payment for Ghanaians. Also, it would unlock the economic engines of real estate assets for developpers, landlords and investors whose properties had been idle for too long.
Then, he added that“Rent4Less” by Alpha Mead Facilities, would allow citizens to pick and choose secure accommodation based on their location preference, community types, growing lifestyle needs, investment appetite and even earning capacity. Further, Rev Okosun said if people earned wages monthly and attended to their other basic needs such as clothing and food periodically, it would not be helpful that tenants paid rent annually.
He said monies locked with landlords for 12 to 24 months could be invested in other ventures that would be of benefit to the investor, the businesses where they were invested, and by extension, the economy. Also, with “Rent4Less”, Ghanaians could pay rent monthly, quarterly or bi-annually.
The Chairman stated that despite the immense impact of shelter on the social architecture, not everyone in Ghana, and indeed a significant part of Africa was able to afford a safe, comfortable, and secure accommodation.That, he said was not because developers had stopped building, adding that, a drive around some of the cities revealed an interesting paradox of scarcity amid plenty, with low occupancy rates on the one side and unmet demands for housing on the other.
“However, the answers are not far-fetched. It is the difference between willingness to pay and ability to pay. Many Ghanaians want to live in these apartments, they want to avoid the stress of commuting two to five hours between where they live and where they work.”
“Unfortunately, the current rent pattern in our nation, which requires a tenant to pay between six- and twenty-four-months advance rent creates a huge gap between our people’s wish to live in comfortable environments and the size of their pockets,” he said.