Housing: Security deposit and guarantee now capped at six months of rent

Economic governance
Thursday, 06 January 2022 12:35
Housing: Security deposit and guarantee now capped at six months of rent

(Togo First) - In Togo, the security deposit to be paid by tenants living in the Grand Lomé region (covering the Gulf and Agoè-Nyivè prefectures) has been capped to 6 months of rent. A bill was adopted in this framework yesterday during the ministers’ council. 

"This cap aims to mitigate speculation practiced in our country, especially in the Grand Lomé region, while trying to preserve investments made by people who help improve housing supply," the ministers explained.

It should be recalled that a preliminary draft concerning the measure was assessed last April, on the 29th, also by the council of ministers.

At the moment, no information regarding how the measure will be made effective on the ground was disclosed. Up till now, landlords were left to set security deposits and guarantees that should be paid by their tenants.

According to the government, the new measure could be extended to other parts of the country, “if deemed relevant.”

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