Last week, the Botswana Housing Corporation (BHC) was in Galo Mall, Francistown to promote its Sitting Tenant Campaign.
The campaign which started on March 13, 2014 seeks to encourage tenants to buy BHC houses and own homes. It is due to run for 12 months.
The Corporation has also partnered with several financial institutions to help tenants who are willing to buy these houses with loans.
BHC Marketing Manager, Pinkie Tau, said BHC encourages tenants to buy the houses and own property.
“The main purpose of this initiative is to encourage our tenants to buy the BHC houses they are renting. One of the main advantages of buying these houses is that they sit on prime land and they have greater land value than in new development areas. The financial institutions that we have partnered with are currently offering specials for this promotion and are ready to assist the tenants with various home loans,” said Tau.
Tau also said that it is advantageous for one to buy a BHC house that they have been renting because they know what they are buying and they are familiar with the product they are buying.
She also said by buying a BHC house, a tenant does not have to go through the agonizing experience of being chased out of the house because their lease has expired.
“Because BHC houses are built on prime areas and adequately serviced, their property values have been proven to appreciate rapidly over time. Remember some of the tenants have been renting this houses for 20 years therefore it only makes sense for them to buy the houses and own them,” she added.
Touching on the prices, Tau said that when one buys a BHC low cost house they get 5.5 percent discount, medium cost 3.7 percent discount and high cost at 3 percent discount.
First National Bank (FNB) which is one of the financial institutions that have partnered with the Corporation to promote home ownership was also present to try and assist tenants with home loans.
FNB Lifestyle Consultant, Maatla Morokotso said that they partnered with BHC so that they can help Batswana buy homes by providing them with various home loan options.
“We are also selling our mortgage loans to tenants who are interested in buying these houses. When this campaign started people were reluctant to approach us, but now as we are speaking they are coming in numbers which is very impressive. At FNB we also believe that home ownership is very important. Our clients also stand a chance of winning up to P450 000 mortgage clearance or reduction,” he said.
BHC also held its first quarter draw where lucky tenants won prize vouchers worth P5 000 and P10 000.