Wanted Home to Rent in Lome Togo

Wanted Home to Rent in Lome Togo
Lome Togo West Africa
Sunday, June 10, 2007

I want to rent a home in Lome, Togo West Africa.



Map of Area

My experience of 14 years of being a Real Estate Broker in the state of Indiana, USA has made me afraid and cautious. I do not know the value of real estate until I know the real prices of home sold or rented in an area. The asking price is a guide only. I need to look at 3-10 homes before I can make a decision to rent or buy.

This phenomenon in the minds of expatriates induces them to agree that prices that I considered gouging are real.

I wish to rent a home, and then will offer it as boarding house or temporary home for travelers. I wish to rent the rooms for around 3000 CFA per day or about 6 US per night. This rental price number then forces me to back into the properly priced rental home and in my opinion semi-tells me the sales value of homes in the area.

A room for rent in this defined area will rent at the low of 5000 CFA per month for one room or Chambre in a Compound Home to as high as 30,000 CFA per DAY for a Hotel Room. I believe that 6-10 US is the fair asking price of any hotel room in the developing world. The prices of Hotel rooms in West Africa need a correction to be in concert with global rates and open West Africa to mass tourism.

To learn the fair price of a home to rent, one must first define the area. Homes outside this defined area are dramatically different and are not comparable homes. It is not good practice to use comparable rates of rent from an area farther than say two blocks away, it is misleading.

I first define the area, and then only look at homes in this area, all others are excluded, if I looked at only one home, then rented the home, I would not be able to understand value.

I therefore feel a need to know the asking rental price of many homes. I will not rent a home in any specified area until I have looked at and compared prices of many. I also must change agents to stop one agent from inflating the prices and keeping the inflated prices consistently high.

I speculate, I am not sure, please do not use this number, it is only a guide, however it appears presently a home in this area with three bedrooms and independent will rent around 150,000 CFA per month or about 300 US. This area is a tourist area, or expat area, I would believe in Togo the normal should be about one quarter of this price.

I have a friend in Atakpame, who rents room for 3000 CFA per month, a very nice room and the building is new.

Wanted Home to Rent in Lome Togo

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