People who wish to rent a place of abode but struggle with advance payment will have to worry no more, as Rent 4 Me Ghana has come to their rescue. Rent 4 Me Ghana, is a subsidiary of the Great Griffin Business Empire.
The company would pay the rent advance to the landlord on behalf of the individual to allow them move in, while the occupant pay the rent monthly to Rent 4 Me Ghana.
This was made known over the weekend at the launch of the initiative in Accra, at a ceremony which attracted several entertainment personalities, including Abeiku Santana, Fred Amugi and Akumaa Mama Zimbi, who commended the company for the idea.
The wholly owned Ghanaian company has rolled out this initiative at a time the country is battling with two million housing deficit, making the few available quite expensive.
“Rent 4 Me Ghana is an initiative of the Griffin Homes Real Estate Development Ghana, with the goal of solving rent advance issues. Rent 4 Me Ghana shall pay all rent advance for the individual, whilst he/she shall be made to live in the house and pay his/her rent monthly to us.”
DETAILS
Speaking to the media, the Chief Executive Officer of the Great Griffin Business Empire, Graffin Nana Ikeson, said individuals could choose from their pool or look for their preferred room and inform the company.
If the latter was chosen, the company will pay the amount of the advance the individual and the landlord will agree on.
But, if the individual decides that the company should provide the room, the option would be given with its accompanying cost per month for the choice to be made.
According to the CEO, the initiative is open for people who are now scouting for accommodation and those already in one, but their rents are due or almost up and need assistance.
CONDITIONS
Rent 4 Me Ghana, prior to paying the advance for a tenant would demand to be satisfied by the client that they have a regular source of income, capable of paying the rent per month.
Further, the client would have to make a security payment of five months’ cost. This means, a client would have to make a down payment of GH₡2,000 if their rent cost per month was GH₡400.00.
DEFAULT PAYMENT
The company would deduct the monthly payment from that security amount in case the client cannot pay at the end of a month.
This would continue till the third consecutive month of default, where the company would pay back the two months left of the down payment and eject the tenant.
The CEO explained that, this may happen when there is evidence the tenant, even after the remaining two months, can still not pay the rent.
However, if the company is convinced that the client would be able to pay, arrangements would be made between the two parties.
BENEFIT
Answering a question on the benefit to the company, the CEO indicated that “for now we are adding 20% per month.”
He explained that, if a room cost GH₡1,000.00 per month, the tenant will pay GH₡1,200.00 to Rent 4 Me Ghana and the GH₡200.00 would be their profit.
WORDS OF ADVICE
The entertainment personalities who graced the occasion took turns to offer some words of advice to the CEO and the company.
Whereas Multimedia Group Limited’s Akumaa Mama Zimbi advised the CEO to try and deal with entities, Despite Group’s Abeiku Santana urged the gathering to support the course and not to take advantage to collapse the business.
For Akumaa, she feared dealing with individuals may cost the company as they could not be trusted on consistent payment. However, if they dealt with workplaces of clients, the monthly payments would be deducted at source.
The office of Rent 4 Me Ghana is at Mempeasem, East Legon, Accra, on the new Asanka Local road.
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