{"title":"Let’s Break the Law: Transaction Costs and Advance Rent Deposits in Ghana’s Housing Market","authors":"K. O. Kufuor","doi":"10.1163/2211906X-00702005","DOIUrl":null,"url":null,"abstract":"A feature of the Ghana private rental accommodation market is that landlords usually demand advance rent of, in some instances, up to 5 years before signing a tenancy agreement. This is in violation of the 1963 Rent Act and recent initiatives are in the direction of curing this problem in the interest of protecting prospective tenants. However while advance rent is a financial burden this is offset by transaction costs in the housing market. Hence, in this paper and influenced by New Institutional Economics, I argue that it is possible for tenants and landlords to continue to bargain outside the shadow of the law to secure mutually beneficial tenancy agreements.","PeriodicalId":38000,"journal":{"name":"Global Journal of Comparative Law","volume":" ","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2018-08-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1163/2211906X-00702005","citationCount":"4","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Global Journal of Comparative Law","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1163/2211906X-00702005","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"Social Sciences","Score":null,"Total":0}
引用次数: 4
Abstract
A feature of the Ghana private rental accommodation market is that landlords usually demand advance rent of, in some instances, up to 5 years before signing a tenancy agreement. This is in violation of the 1963 Rent Act and recent initiatives are in the direction of curing this problem in the interest of protecting prospective tenants. However while advance rent is a financial burden this is offset by transaction costs in the housing market. Hence, in this paper and influenced by New Institutional Economics, I argue that it is possible for tenants and landlords to continue to bargain outside the shadow of the law to secure mutually beneficial tenancy agreements.
期刊介绍：
The Global Journal of Comparative Law is a peer reviewed periodical that provides a dynamic platform for the dissemination of ideas on comparative law and reports on developments in the field of comparative law from all parts of the world. In our contemporary globalized world, it is almost impossible to isolate developments in the law in one jurisdiction or society from another. At the same time, what is traditionally called comparative law is increasingly subsumed under aspects of International Law. The Global Journal of Comparative Law therefore aims to maintain the discipline of comparative legal studies as vigorous and dynamic by deepening the space for comparative work in its transnational context.
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