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From steep room prices to hefty advance payments, the hurdles are numerous, making it nearly impossible for many to move out of their parents' homes. Here are four major obstacles that make renting particularly difficult in Accra:
1. Overpriced rooms
In Accra, even a basic single-room self-contained unit, which many consider a modest start for young adults, is far from affordable. These rooms can cost as much as 1,000 cedis per month, while the average salary hovers around only 1,000 cedis.
This price disparity makes it exceedingly difficult for young professionals to afford their place, pushing the dream of independence out of reach for many.
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2. Hefty advance payments
Landlords in Accra typically demand rent payments in large sums upfront, often requiring one to two years' worth of rent in advance.
Even the more lenient landlords who accept six months' payment upfront present a financial challenge that is insurmountable for most young people.
This practice not only locks out many potential renters but also places a significant financial strain on those who manage to meet these demands.
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3. High agent fees
The role of agents in the renting process adds another layer of expense. Agents charge approximately 10% of the total rent as their fee for helping find a rental.
Additionally, they often require payment for each property viewing, further increasing the overall cost of securing a rental.
This can significantly inflate the initial amount of money needed to move into a new place, discouraging many from pursuing rentals through agents.
4. Unwarranted annual rent increases
Another frustrating aspect for renters in Accra is the unwarranted yearly increase in rent. Landlords often hike up the rent each year without making any significant improvements to the properties.
This practice not only burdens the tenants financially but also feels unjust, as the increases are not reflective of any real enhancement in the value or quality of the accommodations.
These factors combined make renting in Accra a formidable challenge, particularly for the youth.
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The high costs associated with renting not only inhibit financial independence but also contribute to a broader socio-economic issue where young adults are unable to leave their parental homes and start their own lives independently.
Solutions such as more regulated rent controls, tenant protection laws, and support programs for young renters could potentially alleviate some of these challenges.