The Search Options
There are three primary options in searching for a rental home in Ghana. I will take my time to deal with the pros and cons with all the three options.
1. Identifying the property yourself
2. Employing the services of an Estate Agent
3. Using leading online portals like Housingfaironline.com and Meqasa.com
1. Identifying the property on your own through ads posted of the property, posters, banners, friends and family members. This option however involves a great deal of time and commitment from the home seeker.
The Pros
i. It is cost effective. This does not involve any commission payment. This is because the search was done by you and thereby saving you the 5% you would have paid if you had employed the services of a professional.
ii. This options also offers you the opportunity to compare and select the exact and functional home that works well for you and your family.
iii. You search at your own pace. In this case, you can decide to speed up the search or slow it down depending on how ready you are.
The Cons
i. This option can also be very expensive. This is because you may not have an idea of the market rate within that locality. If the owner decides not to be sincere, you are likely to pay more than what the market offers. It will interest you to know that in Ghana, every locality has its own unwritten protocols or rules that govern rental within that particular locality. For example, in certain areas in Ghana or even in the capital city of Accra, it is very normal to share a washroom with the next door neighbour. This is also highly unacceptable in certain areas in the city as well.
ii. This involves a lot of time and commitment. This option will not favour the very busy professional who may just have the weekend to do the search.
2. Employing the services of an Estate Agent
This is the option most people use in order to rent a home in Ghana. Here you approach an Estate Agent who is likely to charge you for a search service and a percentage of the rental value. For example, if the rental value is GHC10, 000.00. The Estate Agent will charge 10% on the rental amount. This will come up to GHC 1000.00
The Pros
i. Most of the Estate Agents are very conversant with the unwritten rules within the locality and will likely ensure that you get the best deal from the home owner.
ii. The owner of the will property most likely treat you well because he/she will not like to have bad ratings among the Estate Agents since they are highly networked.
iii. The Estate Agent will help you to understand the fine details of the rental agreement.
The Cons
i. This option can be very expensive.
ii. Unfortunately, the fraud in the home rental business can begin from the Estate Agent if he/she is not credible enough. There are a few checks you can do to determine who is a credible Estate Agent. You can check if the Estate Agent has a permanent place of work. You can also check if he/she is a verified Estate Agent on any of the online portals like housingfairclone.mystagingwebsite.com and meqasa.com. The Estate Agent should also be comfortable if you choose to make the station master of the police station within the neighborhood a witness of the entire process.
3. Using leading online portals like Housingfaironline.com and Meqasa.com
This option is the current trend and the most cost-effective way to search for a functional dream home in Ghana.
The Pros
i. This option offers you the opportunity to compare and make an informed decision on your search for the right home.
ii. It is less expensive. All you need is data on your mobile device.
iii. The information on these platforms are mostly credible because a home owner is likely to be black listed if a deal goes bad and he/she is reported on the platform.
The Cons
i. The pictures displayed for the house may appear nicer than what is actually on ground.
You may not know where to start from when searching for a property to rent, but it is always good to read before you step out there. Not only do these guidelines help you know what you are about, they can also ensure a successful property search.
What you need to look out for in a rental agreement.
What the Ghana rental laws states
The right of the tenants
Is my Real Estate Agent credible?