How To Price And Sell Your Rental Property In Accra, Ghana

Selling a home and a rental property in Accra, Ghana, are completely different things altogether that require different processes. If you're looking to sell your rental property in Accra, it requires more than just listing it online. Because pricing and marketing your property correctly is crucial for attracting real estate investors and maximising returns.

Whether you're an individual landlord or a real estate investor, here's a step-by-step guide to help you price and sell your rental property effectively in Accra, Ghana.

Your Options For Selling Rental Property In Accra 

Selling a rental property in Accra that is currently occupied by a tenant has its merits and demerits, which is why some landlords in Ghana try to get the tenant to leave before the lease expires. However, before taking this crucial step, it is important to consider two important things.

• Review your current tenancy agreement to understand the landlord's rights as well as the tenant’s rights. In some cases, the lease agreement may allow you to terminate the agreement early with enough notice.

• Familiarise yourself with landlord-tenant laws in Ghana to ensure that you adhere to all the rules and regulations. 

After you understand what you can and cannot do legally, the next thing is to decide on the best course of action for selling your rental property in Ghana. The following are some of the options you can consider in selling your rental property in Ghana.

1. Sell to your tenant

If you're looking to sell your rental property in Accra, one way is to sell directly to your renter. That’s if the rental property is currently occupied by tenants and you do not want to go through the stress of listing the property on real estate market platforms. But before you do, make sure that your tenant is either cash-ready or has obtain a preapproved mortgage. This way it will help protect both you and your tenant-buyer.

2. Refund rent to the tenant to leave 

If your tenant does not have the purchasing power to legally buy the property, you can consider offering them a cash incentive to vacate the property before their lease expires. This can be an effective way to get rid of problem tenants in Accra or those who pay rent late. Just make sure that you follow all legal requirements and document everything in writing when offering this type of cash-for-keys incentive.

2. Wait for the lease to expire

Many landlords in Accra will prefer to wait until the lease term of their tenants expires before selling the property. Though you may see this to be the simplest option, it comes with a few risks. Market conditions can change at any time, and you may realise that your rental property is worth less than it was when you first leased it out. Again, if your leasing tenants are unhappy with the sale, they may intentionally damage the rental, which will require maintenance before the sale. All these things derail the selling process.

2. Sell with the tenant in place

Another great option for you is to sell the rental property with the tenants in place. This way, you can continue to receive rent payments until the day the rental property is finally sold. This is a sure way to provide you with some much-needed cash flow during the selling process.

What to Do Before Selling Rental Property in Accra

Before you advertise your rental property for sale in Accra, there are a few steps to consider:

1. Research the Local Market

One of the first things to do when planning to sell a rental property in Accra is a run local research on the current real estate market in the area. Neighborhoods such as East Legon, Cantonments, Airport Residential Area, and Spintex typically have higher rental and sale prices due to their proximity to business districts, expatriate communities, and amenities.

2. Get a Professional Property Valuation

Selling your rental property in Ghana is all about finding the right balance between price and value. You want to have a competitive asking price per square foot, but you also want to be able to show potential buyers the financial benefits of buying your property

A professional valuation is crucial for setting a realistic price. Certified valuers assess your property based on factors like location, size and condition, rental income history, and potential for capital appreciation. This gives you a benchmark price that aligns with market realities and boosts your credibility with buyers.

3. Consider Your Rental Income Stream

Since the property is a rental, its existing and potential income add value. Buyers, especially real estate investors in Ghana, will look at the current rent and lease terms, occupancy rate, tenant profile, and lease duration. Properties with stable tenants and good rental returns are more attractive and can command premium prices.

4. Prepare the Property for Sale

In property sales, presentation matters. So, ensure the property is clean, neat, and well-maintained, and tenant-friendly. Some ways to improve buyer perception include painting and minor repairs, landscaping, and providing financial documentation (rent receipts, lease agreements). Also, inform tenants early and ensure they cooperate during viewings. Tenants can either add value or create friction in the sales process.

5. Market Strategically

Marketing should highlight both the property’s physical appeal and its rental income potential. Use: This includes listing on local listing websites, Prophunt, social media advertising (Facebook and Instagram), and local real estate agents with experience in investment properties. Professional photos, virtual tours, and detailed descriptions will attract serious inquiries.

6. Set a Competitive Yet Profitable Price

Your final asking price should consider the property’s valuation, comparable sales in the area, rental return (cap rate), and buyer negotiation margin (usually 5–10%). Be realistic to avoid prolonged listing periods, which can signal desperation and reduce buyer interest.

7. Work With Real Estate Agents or Brokers

Engaging experienced agents in Accra helps reach more buyers, including foreigners and returnees. Handle negotiations professionally by ensuring legal compliance and smooth transactions. Ensure you agree on commission terms and confirm the agent is registered with the Ghana Real Estate Agency Council.

8. Handle the Legal and Documentation Process

Ensure all documents are ready and include the title deed or leasehold documents, property tax receipts, rent history and tenancy agreements, and finally, indenture and site plans. Make sure you hire a lawyer to review sale agreements and assist with title transfer, especially if the property is under a company or family name.

Conclusion

Selling a rental property in Accra involves balancing price, presentation, and market demand. With the right valuation, strategic marketing, and professional support, you can maximize your returns and close a smooth sale. Whether you're cashing out or reinvesting, preparation is key to a successful transaction.

Legal Disclaimer

The information on this website is for informational purposes only and is not intended for any legal or accounting advice. Prophunt does not guarantee its accuracy and is not liable for any damages or inaccuracies.