New app launched to help landlords comply with rent advance rules

Ghana's property market sees the launch of the FirstKey App, a new mobile application designed to tackle non-compliance with the nation's six-month rent advance directive. Developed by Ownkey, a Ghanaian property technology firm, the app aims to ensure that only listings adhering to the law are published on its platform.

Ilyas Ibrahim, CEO of Ownkey, stated that the app's success hinges on information provided by tenants and accommodation seekers. While acknowledging that not all landlords and agents can be immediately onboarded, Ibrahim expressed confidence in the platform's potential to improve compliance through cooperation. Ownkey plans to collaborate with the Rent Control Department to encourage more landlords to register and strengthen adherence to the law.

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FirstKey App covers every rental listed below GH₵2,500 a month, the segment most exposed to exploitation regardless of how a property was presented. All of this is to protect tenants and ensure they are not exploited.

The FirstKey App is intended to foster transparency in the rental market and safeguard tenants against illegal rent demands. It also supports landlords in maintaining legal compliance. Ibrahim highlighted that the app covers rentals below GH₵2,500 per month, a segment particularly vulnerable to exploitation, regardless of property presentation.

This initiative is seen as a practical example of private-sector contribution to addressing the housing deficit, estimated at 1.8 million units. Ghana's Rent Act of 1963 (Act 220) has capped advance rent at six months for decades. However, weak enforcement, partly due to reluctance to use the Rent Court, has allowed practices like demanding one to two years' advance rent to become widespread.

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FirstKey App is, therefore, seen as one concrete example of the kind of private-sector contribution the President was asking for, an affordable housing platform built around the same Act 220 standard.