Housing Corporation Cuts Rental Fee in Half

Apr 12 , 2020

The Federal Housing Corporation has cut its rental fees in half for all its renters in the capital and Dire Dawa for the month of April. The Corporation, which cited the negative economic impact of the spread of Novel Coronavirus (COVID-19) as a reason for its decision, has been collecting 120 million Br a month from renting 18,153 commercial and residential units. The new rental decision will lead the Corporation to lose half of the total rental income it typically collects. The rental relief is applied to residential apartment houses, hotels, restaurants, bars, supermarkets, cafeterias and shops. "The reduction aims at lessening the burden on our clients," said Kibrom G. Medhin, corporate communications director at the Corporation, which was re-established in March 2017 with 33.2 billion Br. The Corporation will take further action depending on the spread of the virus and its impact on businesses and the economy, according to Kibrom. The Corporation has also donated 10 million Br to the national task force that is currently mobilising resources for the emergency preparedness of the nation to ward off the spread of the virus.