Rent hikes help triple BHC’s profits :: Mmegi Online

The Botswana Housing Corporation's (BHC) pretax profits for the half year to September 2021, jumped more than three times from their levels over the corresponding period last year, helped by rental adjustments and the resolution of a dispute with a major customer.

The BHC posted pretax profits of P23.2 million, with rental adjustments made earlier in the year boosting rental income from P17 million to P121 million.

Earlier this year, the corporation increased its rentals in a move it said was aimed at meeting the market rates. When complete, the phased revision, which started in April, will see a low cost, which ranged at about P537 in rental, go up to P2,050 per month, a medium cost from P1,330 to P3,700 per month, high cost from P2,162 to P5,020 per month, town houses from P1,886 to P5,020 and flats from P1,238 to P3,500.

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