You have a completed property in Ghana but do not live there yet. Instead of letting it sit empty, here is how to generate income remotely.
Rental Strategy
Long-term vs Short-term
Long-term rentals provide stable income with less management. Short-term rentals offer higher returns but require more attention. Choose based on your involvement capacity.
Hire a Property Manager
Property managers handle tenant relations, maintenance, and rent collection. Their fee is typically 8-12% of rental income. This is worth the cost for remote owners.
Set Up Digital Payments
Tenants can pay via mobile money directly to your account. This eliminates the need for physical payment collection.
Smart Home Technology
Install remote monitoring and digital locks. This gives you visibility and control without being physically present.
Maintenance Reserve
Set aside 10-15% of rental income for repairs and emergencies. Properties require ongoing maintenance, especially in Ghana climate.
The key to successful remote property management is finding reliable people on the ground. Invest time in finding the right property manager.
Income Expectations
Rental yields in Ghana typically range from 6-10% annually on property value. A GHS 500,000 property might generate GHS 3,000-4,000 per month in rent.
Turn Your Ghana Property into a Source of Income
Whether you live in Ghana full-time or abroad, your property can generate income while it appreciates in value. Ghana’s growing economy, expanding middle class, and increasing tourism create genuine opportunities for property owners. Here is how to make your property work for you financially.
Rental Income Potential
Short-Term Rentals (Airbnb) – The short-term rental market in Accra, Kumasi, and other cities has grown significantly. Business travellers, tourists, and diaspora visitors prefer furnished apartments and houses over hotels. A well-located two-bedroom apartment in areas like East Legon, Airport Residential, or Cantonments can earn GH₵300 to GH₵800 per night on Airbnb or similar platforms. During peak periods such as December holidays and Easter, demand and rates increase further. Short-term rentals typically yield higher returns than long-term leasing but require more active management.
Long-Term Residential – Long-term tenancies provide stable, predictable income. A standard residential lease in Accra for a three-bedroom house in a good neighbourhood might earn GH₵2,000 to GH₵5,000 monthly depending on location and amenities. Long-term tenants typically stay for months or years, reducing vacancy periods and management overhead. This option suits owners who want consistent income with minimal day-to-day involvement.
Commercial Space – If your property is in a commercial area or along a main road, consider converting part or all of it into office space, shop fronts, or mixed-use commercial residential. Commercial tenants often sign longer leases and pay higher rents. However, commercial properties require different considerations including zoning compliance, parking requirements, and specific building specifications.
Managing from Abroad
Hire a Property Manager – A reliable property manager is your eyes, ears, and hands on the ground. They handle tenant screening, rent collection, maintenance issues, and inspections. A good property manager typically charges 8-15% of rental income. This cost is worth every cedi for the peace of mind and professional management it provides.
Use Digital Payment Systems – Set up mobile money accounts like MTN MoMo or Vodafone Cash for rent collection. These platforms allow tenants to pay digitally and give you real-time visibility into payments received. No more relying on someone to physically deposit cash into your bank account.
Regular Inspections – Arrange for quarterly property inspections to check on maintenance, tenant compliance with lease terms, and the general condition of the building. Photographs and reports from inspections help you stay informed without needing to visit personally.
Maintenance Fund – Set aside a portion of your rental income, typically 10-15%, into a dedicated maintenance fund. This covers routine repairs, emergency fixes, and periodic upgrades. Having funds available for maintenance keeps your property in good condition and retains tenants longer.
Legal Considerations
Tax at 8% – Rental income in Ghana is subject to withholding tax at a rate of 8% on gross rent. This is typically deducted by the tenant or their employer if it is a company-provided residence. Ensure you understand your tax obligations and factor this into your income projections.
GRA Registration – Register with the Ghana Revenue Authority for a Tax Identification Number. This is necessary for legal rental transactions and ensures you remain compliant with Ghana’s tax regulations. Failure to register and declare rental income can result in penalties and legal complications.
Written Agreements – Never allow a tenant to occupy your property without a written lease agreement. The agreement should specify the rent amount, payment schedule, duration, responsibilities for maintenance and utilities, and conditions for termination. Written agreements protect both you and your tenant and are essential if any dispute arises.
