The Minister for Works and Housing, Kojo Oppong Nkrumah, has announced that the government is initiating a new bill to regulate property rentals across the country.
Mr Oppong Nkrumah acknowledged that the current rent laws are outdated and insufficient to meet today’s needs, underscoring the necessity for new legislation.
Speaking on the Angel Morning Show, Wednesday, July 24, 2024, Mr Oppong Nkrumah stated, “given the current laws, it’s clear that we need a new Rent Bill. I can confirm that we’ve started the process with major stakeholders, and we aim to present the Bill to Parliament for approval to make it law.”
This move comes as a relief to many, especially university students and their families.
At the start of every academic year, several university campuses across the country grapple with severe accommodation challenges particularly freshers, are often faced with exorbitant hostel fees, placing a heavy financial burden on parents and guardians.
The proposed bill aims to alleviate this burden by setting fair and regulated prices for student accommodations.
The Minister emphasised that the new Rent Bill aims to rectify the existing issues in the home leasing sector, particularly focusing on the exorbitant hostel charges on university campuses.
“The Rent Bill will eliminate all black market activities in the industry. For instance, all hostels charging excessive amounts for university accommodation will be regulated to ensure fair pricing for everyone,” he told host, Okatakyie Afrifa-Mensah.
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