The Sunday Mail
Tanyaradzwa Rusike
A local private company Homeslea, has unveiled a new housing ownership scheme that will allow the purchase of homes through paying monthly rentals.
The rent-to-own scheme will benefit low and middle-income earners and will compliment Government efforts to improve housing delivery.
Under the initiative, Homeslea plans to build flats in line with the policy that encourages construction of modern skyscraper apartments to maximise land use. In an interview with The Sunday Mail, Homeslea’s managing director Mr Godwin Zava said the rentals will be paid for a period not exceeding 12 years.
“Homeslea’s rent-to-own scheme is a new way of owning a home, through a model that allows qualified members to move into newly built homes without a deposit or down payment.
“Our simple approach focuses on building quality accommodation for our members and charging them a monthly rental for a period not exceeding 12 years.”
He said his company is complementing Government vision to improve housing delivery, as enshrined in the National Development Strategy 1 policy.
“It is high time that we seriously consider the role which the private sector is able to play in the provision of affordable housing in line with NDS1.
“As a country facing acute urban accommodation shortages we can and must do more to ensure that the correct policies and funding are in place to offer truly affordable housing to more people. We have received a remarkable number of applications for our program within a very short period.”
Mr Zava said the scheme has room for flexibility, if one defaults on payment.
“Our scheme has no hidden fees. Importantly, we give you a grace period if you default, but under strict conditions since it affects our relationships with investors who fund our programme.”
In an interview with The Sunday Mail, permanent secretary in the Ministry of National Housing and Social Amenities, Engineer Joy Makumbe said Government is encouraging such housing schemes.
“The National Human Settlement plan of 2020 that was launched by the President last year is saying any projects planned for human settlement should reserve 40 percent for uprise buildings such as flats.
“By this, we will save space for other purposes like agriculture. So you find out any plans submitted without that 40 are being rejected,” she said.
