The Cabinet approved the Rents Bill and recommended it for consideration by Parliament following extensive engagements.
Parliament would also begin its engagements on the bill, culminating in its successful enactment.
The Minister of Works and Housing, Mr. Francis Asenso-Boakye revealed this during a press briefing in Accra on Sunday.
He pointed out that regulation of the rental housing market in Ghana was an issue that dominated the housing space for decades.
“As I have recently mentioned, the existing law was passed by Parliament fifty-nine years ago, and therefore its relevance has been overtaken by the current population growth and urbanization, the availability of housing, rental rates, housing redistribution and eviction controls, among several other concurrent difficulties, which have engulfed the housing sector,” he said.
He said the revised Rent Bill was aimed at protecting the rights of vulnerable tenants who have been overstretched by runaway increases in the cost of renting accommodation.
Mr. Asenso-Boakye further noted that the review would remove inherent constraints and provide incentives to encourage private sector investment in the rental housing sector.
“This will ensure that property developers are not discouraged from investing in the housing sector by rigid rent control mechanisms, which reduce payable rents to artificial levels.
“Furthermore, the Rents Act provides that a landlord who requires payment of rent in advance for more than one month in a month-to-month tenancy, or a tenancy of less than one month, or more of one year in a rental that exceeds one year, commits an offense, an offense clearly identified in the bill,” he noted.
The Minister urged all well-meaning Ghanaians to take an active interest in these commitments and contribute to their implementation.
This, he said, could be achieved by expressing their views and expectations to their respective MPs as the House was about to consider the bill.