The Minister for Works and Housing, Francis Asenso-Boakye (MP) has revealed government’s commitment of GH30m towards the initial implementation of the newly introduced National Rental Assistance Scheme (NRAS).
The implementation of the Scheme is in fulfillment of Government’s manifesto promise to facilitate accessibility and affordability of safe, secure, decent rental accommodation and ultimately protect these targeted people from unfair burden of multiyear rent advance payments.
Speaking at the launch of the Scheme by the Vice President, H.E Alhaji Dr. Mahamudu Bawumia yesterday in Accra, the sector Minister explained that even though the initial implementation of the Scheme will cover Six (6) regions namely; Greater Accra, Ashanti, Eastern, Western, Bono East and Northern Regions due to their peculiar rent advance payments challenges.
“The objective of government is to operationalize the Scheme throughout the country through the various rental assistance solutions to ultimately improve the rental housing market in the country.
“Deepest gratitude to His Excellency the President, Nana Addo Dankwa Akufo-Addo for this timely, people-centered public programme that seeks to support the good people of Ghana, especially the youth, despite the current global challenges. I am confident this will bring a lot of relief to many Ghanaians” Francis Asenso-Boakye said.
Asenso-Boakye appealed to the media to disseminate and inform the general public on the Scheme to ensure that the Scheme serves its intended purpose, adding that the Project Management Committee of the Scheme will “welcome feedback and constructive critiques in fine-tuning this important national intervention.”
Scheme requirements
To be eligible for the Scheme, the applicant must show proof of the following minimum requirements: Be a Ghanaian, Possess a valid Ghana Card, Must be an adult of eighteen (18) years and above, Verifiable employment and earned income, Must have a verifiable bank statement or mobile money statement and Rent payable must not exceed 30 percent of the household income.
Application process
The qualified person is expected to identify a property of their preference and notify the NRAS of same through a formal online application. (www.nras.gov.gh)
Applicant must show proof of employment (3 months’ pay slips) and proof of income (3 months bank statements), 2 forms of IDs, and pay GH100 application processing fee.
In just 5-10 business days, the Scheme will verify your application and supporting documents, determine your affordability and the ability to pay back.
After applicant has been approved, the Scheme will contact the chosen landlord, inspect the rental property, sign all tenancy documentations and pay the rent advance directly to the landlord.
Tenant takes possession of the rental property thereafter and rent payment is always due on the 1st of each month.