Botswana Housing Corporation (BHC) recently hosted activation at Mahalapye Watershed Piazza Mall to promote the Sitting Tenant Campaign which is aimed at encouraging those leasing houses to purchase them.
BHC Marketing and Research Manager, Mookodi Seisa, said the campaign which was started in the last financial year was initiated to empower Batswana with home ownership. As a campaign to appeal to those leasing the BHC houses, Seisa said they came up with incentives to encourage them to buy.
The benefits provided for those willing to buy the houses include a 5.5 percent discount for Low Cost, 3.5 percent discount and 2 percent discount for high cost houses. Additionally the tenants are offered P7, 500 renovation vouchers to revamp their houses once the house falls under their ownership.
According to Seisa, the campaign is progressing well which is the reason why it has extended into the current 2015/16 financial year. During the first year of the campaign, 144 houses were purchased and it is said to have gained momentum in the last 2 quarters of the previous year, hence the extension.
In the current campaign, BHC has already sold 30 houses to sitting tenants, 15 are in the transfer stage while 19 are still in the offer stage. Seisa said these developments gives them confidence that the campaign will attract more customers as the year progresses.
When the campaign ends, Seisa said they will evaluate how the current one has gone and find the way forward and as such he encouraged the tenants to use this opportunity to buy the houses.
He explained that the message BHC is conveying is that, one cannot pay rent forever and urged the tenants to invest in houses.
BHC has partnered with several commercial banks to arrange mortgage bonds for them. Seisa said they partnered with the banks after realising that most tenants were not aware of how financial institution can help in financing the houses.
After the Mahalapye activation, Seisa said they host such activities on a quarterly basis explaining that they came to Mahalapye after Botswana Railways, which is the major BHC tenant in Mahapye, gave its employees a go ahead to purchase the houses.