GH₵13.8 million allocated for rental scheme disbursement in 2024

National Rent Assistance Scheme
National Rent Assistance Scheme

The Government has disbursed GHC13.8 million to prospective tenants under the National Rent Assistance Scheme, providing crucial support for affordable housing.

Finance Minister Ken Ofori Attah disclosed this when he presented the 2024 budget in Parliament on Wednesday in Accra. ‘

The sum covered 1,105 rent advances for applicants in Greater Accra, Ashanti, Northern, Eastern, Bono East, and Western Regions.

The Vice President Alhaji Dr Mahamudu Bawumia officially launched the National Rental Assistance Scheme (NRAS) last January.

The NRAS promotes sustainable monthly rent payments by financing rent advances for qualified applicants renewing or acquiring rooms, flats, or houses.

To qualify for the scheme, applicants must provide proof of eligibility, including 3 months of payslips for employed individuals, 3 months of official bank or mobile money statements for income verification, and audited financial statements for business owners.’

Prospective tenants applying for the assistance are required to complete an online or paper application, submit two forms of national identification, and pay a 100 cedis processing fee.’

If an application is approved, the scheme then arranges with your preferred landlord to pay the rent advance directly and sign all necessary tenancy documents.

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