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Zimbabwe urban house rentals become very expensive

20 Feb 2021 at 08:40hrs | Views
The United Nations predicts that by 2050, seventy percent of the population in Africa will be living in urban areas hence there will be many challenges, risks as well as opportunities which comes with urbanization. All of a sudden the rentals in urban areas particularly in Harare becomes a nightmare. There is an urgent need of the landlords to charge affordable rentals as this will culminate to the positive development for economic growth and stability.

The Estate Agents Council of Zimbabwe should play a fundamental obligation to protect the citizens from unscrupulous landlords and bogus agents who are robbing people daily. We need to come up with realistic valuation of rentals while contemplating on the vitally important factors. A systematic approach must be implemented especially in Harare whereby the government and the relevant stakeholders ought to set rental benchmarks and formulae. The rentals prices are increasing every month due to the greediness by landlords and lack of principles to be adhered. Be that as it may, this exponentially rise in rentals is not triggered by the shortage of the houses in Harare since many people are building their own houses.

Most people are in dire situation because their disposable income is being heavily eroded by the rentals and the cost of living is escalating on monthly basis. Let's have a collective engagement and consider the Rent Act in Zimbabwe. Thousands and thousands of people are losing their hard earned income through the illegal agents who are charging exorbitant prices of 50usd before viewing a property and you will surely have the shock of your life to discover a fowl run instead of a habitable house. Eventually, the search will end in vain and agony.

In some of the areas around Harare, the agents are teaming up with the landlords and develop a strong rapport to an extent of obtaining a kickback without the knowledge of the tenant for instance a full house in Southerton might costs an average price of 300usd, the agent top up another 100usd and equates at 400usd per month. This unregistered agent will get 100usd per month without the sweaty equity.

The registered estates agents have been cornered by the unlicensed agents and the market is now congested. Innovative young entrepreneurs need to think outside the box and bring up a sophisticated and disruptive system proposition which tracks illegal real estate agents to protect the local property rental market. Uncounted real estate frauds cases are being reported every day at police across Harare and other cities.

I am just a microphone of the innocent people who are wailing and grieving without consolation. It is my utmost request for the relevant stakeholders to take some steps towards addressing these problems.

This article was prepared by Noel Mavura. He is the founder of an Investment firm called Africa Investors Hub which funds innovative entrepreneurs. He can be contacted on the following

Email:noel@investorshub.co.zw Phone number:+442080898129



Source - Noel Mavura
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