What to Look Out For When Buying a Commercial Plot

The most successful people do not work for money, they let money work for them. This is one of the phrases synonymous with most investors. Investing entails putting money in a certain venture that generates profit for you either through your direct input or others’ inputs. One such investment is land and, in this case,a commercial plot that could be used for current business investments. However, before committing any amount of money to buy a commercial plot, one should consider the following factors. Infrastructural development This includes roads, electricity and water which are vital when establishing a business venture. The plot should be close to the main/tarmac road for easy access to the business by prospective customers and suppliers. Inaccessible businesses seldom survive. Electricity and water are important since their absence or scarcity could increase the cost of production, which eats into profits. Population In case you are buying commercial plots plot to establish a venture that deals in retail, it is important to have it in a place that is fairly populated since the residents will be your target market. Underpopulated areas may see your venture under-perform, while overpopulated areas may pose risks to your business due to lack…

7 Essential Things to Know When Moving Out

If you’re like most young adults, moving out of your parents’ home when you turn 18 is one thing you look forward to most! It’s the first time you get a taste of independence. It’s also the first time you get to create your own space according to your style and comfort. However, it’s easy to get carried away with dreams of not contending with a curfew and living on your own. The reality is that moving out is a major challenge, and when you actually do it — a major achievement. It takes careful planning and execution of everything from budgeting to choosing a place that best suits your needs. In short, moving out isn’t easy. Most young adults need a guide to successfully transitioning from mom and dad’s home to their own apartment. Luckily, this is that guide! Here’s absolutely everything you need to know about moving out and how to nail getting your first apartment. Let’s dive in! 1. Figure out How Much Rent You Can Afford Usually, the biggest hurdle to moving out that young adults face is actually being able to afford their first apartment. Apartments aren’t cheap. Neither are the supplies to furnish a…

How Much Do You Need To Make Your First Real Estate Investment?

The biggest challenge anyone faces when seeking to invest in real estate business is money and the question people often ask is, how much do you need to make your first real estate investment? This includes knowing how much you will need to make that investment and is usually the most intimidating part in real estate investment. This is because you always have a variety to choose from, despite having started out with a different financial goal. This sometimes pushes one to change their mind and try to get something that looks better or sometimes more valuable than they had in mind. The initial goal has to change. The truth, however, is that you need not stress about having to change your budget or overspend. You don’t need to have millions in your bank account to make that real estate investment and become a property owner. When you set out to purchase property, it is important that you get this property through trusted real estate companies. So, here’s how much you need, to make your first real estate investment: Most real estate companies offer various payment options to their clients and as soon as you identify the property you want…

Blow for Tenants As Landlords Get Sweeping Eviction Powers

Landlords will now be allowed to evict tenants who default a one-month rent if proposed law is adopted. In a report to the National Assembly by the Public Works and Housing Committee, landlords will be required to give tenants a one-month eviction notice, down from the previous three months. In proposing the reduction in notice period, the report stated that it was a middle ground agreed upon by the landlords and the tenants during the public participation forums. If approved by the National Assembly, landlords will be at liberty to evict tenants who default on rent payment for just a month. The original bill by Majority Leader, Mr Amos Kimunya, had proposed default of three consecutive months. However, landlords will not be allowed to seize or auction a tenant’s property when they default on rent without following the legal process. The proposed law protects tenants from being subjecting to any form of annoyance by landlords with the intention of inducing or compelling them to vacate. Landlords will also be entitled to terminate tenancy for any reason without reference to the rent tribunal upon the landlord giving notice of not less than 12 months for residential and 24 for business premises….

5 Strategies to Building a Good Tenant Relationship

Whether you have a tenant who wants to talk on the phone, meet in person or only texts, it all boils down to one truth: the landlord business is a relationship business. Building and maintaining a professional yet personable rapport with your tenants is key to developing a lasting business relationship. Building and maintaining a professional yet personable rapport with your tenants is key to developing a lasting business relationship. Here are five tips forensuring your interactions with tenants are positive: Start off on the right foot Fromday one, you want to work on developing a positive yet professional relationship with your tenants. That means making them feel welcome and comfortable at the property, and providing them with all the information they need to start their tenancy off right. That includes contact numbers, details on your expectations, important dates and locations of the nearest grocery stores, schools, bus stops, etc. Document everything This helps with your budgeting but also helps keeps track of your tenants’ payments and requests. Be sure to keep archives of all your communications and receipts. It will also help when a tenant has a question orfollows up about a charge. Communicate early and often about repairs…

RED FLAGS TO LOOK OUT FOR WHEN BUYING A NEW HOME

Buying a new home is tough, and sometimes sellers don’t make it easy as they will do anything to make their property more appealing to potential buyers. Unfortunately, it’s left up to the buyer to search out those red flags before the ink dries. “Let the buyer beware” might be an overused expression, but it’s a perfect cautionary phrase to keep top of mind when you’re buying a new home. Here are seven red flags you should look for when looking to buy a new home. #1. Avoid listings with fewer photos when buying a new home. Would you be hesitant about dating someone who avoided showing you how they looked before meeting them? We would too. The same alarms firing off that tell you this is a red flag can be applied to the process of buying a new home. You should be immediately suspicious of the listing’s lack of photos because they’re likely hiding something. The house could need substantial work, renovations or repairs you don’t want to be stuck fixing. If you’re brave enough to do a walkthrough, just remember not to freak out as you pull up to what could be a disaster. #2. Watch out…

The Land Buying Process and Red Flags to Look Out For

Land Buying Process: Besides land being the most rewarding asset to acquire, you need to know that it comes with the highest risk factors to be avoided. Buying land as an individual can be a very risky affair. A buyer can easily fall into the hands of predators ready to feast on your hard-earned cash using empty promises. Always be ready to learn from those experienced in the business. So if you want to buy land, the first thing you will do after identifying that piece of land is getting a copy of the title deed from the owner, to conduct a search at the land’s registry. The search results will show all details of the land including, location, size, the real owner and any cautions, if any, placed on the land. Once one is satisfied, the buyer through his lawyer will draw anofferletter with details of both the seller and the buyer and the piece of land. From here, negotiations take over until a price is agreed up. After the negotiation, the buyer obtains twomaps(one drawn to scale and another with an overview of the land showing adjacent lands) from the Ministry of Lands, or a surveyor. The buyer,…