As a way of encouraging tenants to own homes, Botswana Housing Corporation (BHC) has upped its campaign for the Sitting Tenants to inspire them to purchase the houses they are currently leasing.
At a re-launch of the campaign on Tuesday, Marketing and Research Manager at BHC, Mookodi Seisa, said they have since come up with a new slogan for the campaign known as “Realise your Gold” for the period 2015/2016. This is transformation from the previous slogan of “Mine your Gold” which was used in the 2014/2015 campaign.
Seisa explained that the theme Realise your Gold stems from the many inherent benefits and opportunities of home ownership. The previous campaign is said to have empowered about 144 Batswana with houses and attained a 29 percent increase in sales of old stock as compared to 2013/2014 sales.
He said what they have learned from last year is that, property being a high value commodity which can both be economic advancement and shelter for Batswana, takes long to acquire.
In their interactions with the clients, Seisa said they have learnt a lot. Part of what they learned is that education in terms of property ownership and benefits thereof has been limited; hence the campaign in 2014 mainly served the purpose of raising awareness and call to action. Also, he said tenants still consider houses being leased as theirs and therefore, hence the need for intensive education about opportunities inherent in a bought house versus the disadvantages of perpetual renting.
As at the 31st of March 2015, the sitting Tenant Campaign sales is said to have generated more than P43 million.
Seisa said during the current series of the campaign, key messaging will be centred on the economic advancements one can make and benefits one derives from being a home owner. He said tenants should understand all the benefits and opportunities of being a home owner such as release of equity and debt consolidation.
Investing in property, Seisa said is one the viable investments one can make in many economic aspects. In terms of inflation versus capital appreciation, he said high inflation affects rentals to go up and affects share of pocket.
On the other hand he said there is financial leverage as a bought property appreciates and gives one opportunities to unlock the capital accrued for other investments. In addition Seisa stated that investment in property offers risk diversification. This is because stock and bonds fluctuate depending on the market whereas property seldom appreciates.
For his part, BHC Deputy CEO-Operations Nkaelang Matenge said having evaluated the campaign’s performance; they have chosen to continue the campaign under the same value proposition from last year.
The value proposition entails discount on the offer price. For the low cost houses there is 5.5 percent, 3.5 on medium cost while the high cost attracts a 2 percent discount with zero administration (valuation) fees.