Investing in a multi-family property for rental income can be a wise financial decision with numerous advantages. Owning a multi-family property provides not only rental income, but also a hedge against inflation, tax advantages, and potential long-term appreciation. The rental income generated by a multi-family property is one of the most significant advantages of owning one. Owners can earn more money by renting out multiple units than they would by renting out a single-family home. Because there are multiple tenants paying rent each month, multi-family properties provide more consistent cash flow than single-family homes. You can earn up to KES 60,000(app $500) for an unfurnished unit in a1 bedroom in Kileleshwa. Furthermore, multi-family properties can act as an inflation hedge. Rental prices tend to rise over time as the cost of living rises due to inflation. As a result, multi-family property owners can boost their rental income to keep up with rising costs. Another advantage of owning a multifamily property is the potential tax benefits. Property owners can deduct mortgage interest,property taxes,insurance, and repairs from their taxes. Furthermore, multi-family property owners can depreciate the property over time, lowering their taxable income. A multi-family property can provide long-term appreciation in addition…

The Energy and Petroleum Regulatory Authority (Epra) recently reviewed electricity tariffs, for the first time including a bulk tariff for a three-year period effective April 1, 2023. The tariff will allow big consumers to buy electricity in wholesale from Kenya Power at discounted price and resell it to end-users, including tenants at a profit. Here is how the deal to buy and sell power will work; What is the motivation behind the bulk power tariff? The tariff is meant to improve efficiency in power distribution and relieve the burden on Kenya Power in pursuing defaulters. Bulk power purchasers will pay Kenya Power upfront, meaning that the State electricity distributor will protect every shilling from power sold under this arrangement. The bulk power purchaser will be left with the task of following up on payments from the consumer. Which band of consumers are eligible for the bulk tariff? The tariff is applicable to big electricity consumers, mainly businesses such as shopping malls and owners of vast residential areas. Domestic consumers do not qualify. These are customers in the C12, C13, C14, C15, C16 and C17 consumption bands who use upwards of 15,000 kilowatts per hour a month. What will it take…

The NationalLandCommission (NLC) has ordered that all 999-year-oldlandleases to multinational tea companies in Kericho, Bomet and Nandi counties be converted to the constitutional requirement of 99 years. NLC announced the decision in a Gazette notice No. 4512 dated April 6. The decision has brought joy to members of the Talai clan and the Kipsigis community who have been fighting for years over historicallandinjustices. “The Commission orders that all 999-year-old leases should be converted to the constitutional requirement of 99 years,” read the gazette notice in part. The Commission gave the orders following an investigative hearing of historicallandinjustices complaints taken to NLC in 2017 by the county government of Kericho on behalf of the Talai clans and the Borowo and Kipsigis self-help groups versus the colonial government and the government of Kenya. The Commission recommended that a resurvey be done on thelandsbeing held by the tea estates in three counties to determine if there is any surpluslandor residue to be held in trust for the community by the county government for public purposes. It further added that the renewal of thelandleases be withheld until the county governments and the multinationals reach an agreement. “The Commission further recommends that the renewal of…

It was billed as a game-changing one-stop-shop, but two years since its launch, Ardhi Sasa is the bane of many stakeholders in the real estate sector. Lawyers, property financiers, property agents and surveyors estimate that transactions worth at least Sh100 billion are stalled at Ardhi House due to the inefficiency of the Ardhi Sasa system–an online national land information system– on delivering on the transaction processes and approvals required during conveyancing. Property players who represent buyers, sellers or those seeking equity release on their properties say over the last six months, thousands of their transactions have been pending at theArdhi Sasa system awaiting approvals with no given timeline. At the heart of the delay is the verification of surrendered original certifications based on physical files which have since been moved to Ruaraka for storage away from the Ministry of Lands headquarters in Nairobi. Physical verification “The whole cadaster needed to have been digitised and automated before rolling out the Ardhi Sasa system. Why say a system is digitised and still usephysical files for verification? It is even more disturbing when the physical files to be used for verification are stored in the other part of town and not at the…

Suppose you decide to purchase real estate to rent it out and generate passive income, then you need proper guidance to make the most of your investment. If you do not have the time or capacity to manage your rental property yourself, then consider outsourcing this task to a property manager. In either case, you need to properly understand how property management works. What is Property Management? Property management describes the supervision of residential, industrial, and commercial properties, ranging from apartments to duplexes and shopping centers. The property manager, in this case, administers the property on behalf of its owner, serving to preserve their investment interests by protecting the property’s integrity and value. How Property Management works A property manager may be the owner, or an intermediary between the owner of the property, and tenants of the property. A professional property manager has an excellent idea of the real estate industry and is poised to handle everything involved in the rental market. They work in favor of your interests by managing tenants, budgets, maintenance, rents, and rental property records. They know the right approach to screen tenants, handle payments, terminate leases, and effect evictions. Briefly, they manage the property on…

Let us face it; if you are living in an apartment, you probably do not have that dream bathroom featuring a Jacuzzi tub and walk-in shower. You are probably cramped on space and do not have the opportunity to make any big changes. However, there are a few things you can do to optimize the space and make the bathroom look bigger than it actually is. You do not need to be an interior designer or undergo a big bathroom remodel to get the most out your small space. These small bathroom ideas should do the trick. 1. Step up your storage. Optimizing your storage space is crucial in a small bathroom. If you are like most people, your bathroom likely contains an abundance of toiletries. Having them lying all over, the place will look clumsy and make any small bathroom feel cluttered. Invest in products that improve organization, decrease clutter, and create open space. Think about adding shelving units, expanding under sink organizers, and compacting linen closets. Medicine cabinets are a great addition as they add storage and an extra mirror, which both help small bathrooms look larger. 2. Remove the clutter. Speaking of decreasing clutter, get rid of…