As the nation rejoices over the oil find, and politicians debate over oil revenue, residents in Takoradi are reeling over the high standard of living occasioned by the oil find. Landlords have doubled their rent charges with shelter being sold to the highest bidder. Some of the residents who spoke to Joy FM’s Western Regional Correspondent Kweku Owusu Peprah could not hide their frustration. “Can you imagine some of the houses they are taking three years, four years. Assuming a young man wants to begin life and he has to pay about ¢3,000, ¢4,000 for just rent, this is just too much,” one of the residents said. Even the expatriate staff, according to Owusu Peprah are not spared the rent craze currently rearing its head in the region. They complain the property owners have taken advantage of the oil find and are ripping them off. “[It's] very very difficult to find accommodation. If you went for two bedrooms it is $1,500 a month and $3,000 for 4 bedroom,” one of the expatriates complained. Kweku Owusu Peprah said Airport Ridge, Windy Range, Regimanuel Estates and other plush class A residential areas are cashing in on the oil find. The rent control, the office charged with the responsibility of regulating the rent related issues seem to be helpless in the entire situation. The Principal Rent officer Twum Ampofo said the situation is alarming. “People are paying more. If you are ready to pay 10 cedis somebody is ready to pay 20 cedis. And also some are saying they are reserving their [houses] for oil companies,” he said. He said the demand for the houses has outstripped supply in the region leading to the exorbitant rents being charged. The Western Regional Minister, Paul Boateng Aidoo told Joy News' Dzifa Bampoh the rent control cannot be blamed for the situation. He said the landlords are only playing by the rules of a free market economy in which one would want to cash in as much as possible. On how the region was gearing up for the historic ceremony to commence oil production, Kweku Owusu Peprah said the residents have been indifferent. Except sirens of cars belonging to some dignitaries blaring, nothing much is noticeable, he said. The residents however expect that the oil find would have a positive impact on their lives. Play the attached audio for excerpts of the report filed by Kweku Owusu Peprah Story by Nathan Gadugah/Myjoyonline.com/Ghana