It is Important for a renter to follow certain protocols, once they decide to exit an apartment at the end of their tenancy period. Vacating a house in an unplanned manner, might not only lead to legal troubles but also monetary losses for the tenant. In this context, we look at the things that a tenant must do, while leaving a rental home. Serve a notice to the landlord As specified in the rental agreement, the tenant should serve a notice to the landlord, notifying the latter about his intention to vacate. The same is true, if the landlord desires to get his premises vacated. Since rental agreements in the residential sector typically talk about a one-month notice period, you have to let your landlord know one month in advance, about the planned exit. In case the notice period stated in your rental agreement is longer, you will have to serve the notice accordingly. If you are in a hurry to shift, because of any personal or professional reason, you may have to pay the rent for the entire notice period, as stated in the rent agreement. Check the maintenance aspects in the agreement An ideal rental agreement would also…

Landlords may have expected to more than double their earnings fromhouse rents when infrastructure transformed some of Kenya’s remote towns. It has, however, proven to be a difficult task. Despite new electricitylines and improved road networks, rents in many rural areas haveremained virtually unchanged. In other cases, initial rent increases were immediately overturned aftertenant protests and evictions. Many residents in rural areas, according to Joshua Mwangi, a tenant at abusiness in a village in Nyeri County’s Kieni, are low-income earners. Any attempt to charge them a price that will force them to live abovetheir means is met with opposition, even a boycott of one’s rental units. “The majority of people simply want a place to rest their heads in theevening.” “They aren’t searching for elegance,” he explains. “There is always another option for settling and avoiding a landlordwith high charges.” As a result, despite infrastructure expansion, therents charged stay mostly unchanged. Mwangi claims that rental houses timber in his village may be rented foras little as Sh500 per month, the same sum as before the village wasconnected to the national power grid. The majority of the houses have timber walls, while others have roofingsheets. Daily farmhand responsibilities pay roughly Sh250…

There are many finance myths persisting in the society as people are still glued to old school ways of investments. The old saying “it’s better to keep your money safe in your savings account than investing in riskier portfolios” doesn’t hold ground today. Most of the people still think managing personal finance perfectly is difficult in terms of complexity & planning. This blog is an attempt to reveal the existing myths related to personal finance and in turn, educate investors on how to plan and execute their finances. Myth #1: I’m too young to start investing When you’re young, it’s difficult to look too far into the future. You’re living in the moment and enjoying a vibrant social life. There’s plenty of time to think about investing when you’re older, right? Wrong. Time is of great advantage when it comes to investing. Long-term investment strategies tend to be less volatile and may help build your wealth through compounding of interest. Myth #2: Investing requires a substantial time commitment Many people believe that they must commit long hours to monitoring their investments – this couldn’t be further from the truth for certain type of investments. Many investments demand a long-term strategy…

Kitengela has recorded the highest increase in apartment rental prices among Nairobi’s satellite towns in the past year, driven by increased demand as more Kenyans moved farther from the capital city in search of cheaper accommodation. The Hass Consult property index for the first quarter of 2022 shows that apartment rents in Kitengeal have climbed by 16.9 per cent over the past year owing to growing demand beating other satellite towns such as Ngong, Ruaka, and Athi River which recorded growths of 8.3 per cent, 7.5 per cent, and 7.9 per cent respectively. Land prices in satellite towns also rose by 2.17 per cent in the quarter as compared to Nairobi’s suburbs which recorded a modest 0.11 per cent growth with investors betting on the growth of the towns driven by better accessibility through improved roads and demand buoyed by the sprouting up of universities in the towns.  The index shows Muthaiga was the best performing suburb in land prices growth at 3.11 per cent while Thika town emerged top in the satellite towns recording a 6.35 per cent growth. Satellite towns also recorded the strongest quarterly growth in apartment rents with Ngong and Kitengela at 5.5 per cent and…

The cost of living continues to rise, and naturally, people have to think about cost-saving measures. Business owners and property managers are no exception. Property managers need to find a way to keep overhead expenses low and tenant morale high, and property management companies are fishing for smart ways to keep costs down; from utilities to building maintenance and everything in between. If you call in the above categories, here are four ways that may be able to help you lower the operating expenses at your rental property. 1. Save water A lot of owners and managers are never aware of how much water is being wasted at their properties. Did you know that undetected leaks have the capacity of increasing your water consumption by nearly one-third of regular usage rates? A small leak can drown your profits down the drain. It is important to watch your water meter closely to spot sudden increase in water use. A leak could also emanate from somewhere underground, and it may be causing significant water damage as a result. Identify the problem and have it fixed immediately. Another important step is to reduce the rate of use. Consider incorporating special features designed to…

Whether you are an inexperienced first time landlord or a go it alone landlord who is fed up with the hassle of dealing with weekend maintenance calls, hiring a property management company to take care of your property and your tenants can be the perfect solution. Here are 8 great reasons why making the move to this style of property management can make really good sense. 1. Better screening of tenants First impressions can be deceptive and even the most plausible, honest looking people can prove to be difficult tenants. This is why property management companies or letting agents always take screening of potential tenants very seriously. A good company will carry out credit checks and evaluate references to make sure the chances of taking on responsible, reliable good quality tenants is as high as possible. After all, a tenant who pays their rent on time and takes care of your property is not only good for you, but is also a lot less hassle for a property management company. 2. Ensuring legal safety requirements are met There are a number of safety regulations that need to be met before a property can be let. A property management company will…

Making an apartment inspection checklist should be one of the first things you do when you decide to move. Moving into a new rental can be exciting, but it’s easy to overlook flaws in the new digs upon your arrival, simply because you’re caught up in the move. By making a rental inspection checklist, you can make sure you’re looking over your new home closely for any damage or concerns, not only so your landlord can fix it immediately, but so you won’t be at fault later. Ahead, learn all the ins and outs of making an apartment rental checklist. Why do I need a rental inspection checklist? An apartment inspection checklist is important to keep you focused when you move in. In the stress and excitement of moving in, it’s easy to overlook things or just get caught up in putting all your things away in your new home. If you make your checklist ahead of time, you can inspect each aspect of your rental as you start to put your home in order. An apartment inspection checklist also will help you spot anything you need to talk to the landlord about immediately. If you can get your landlord…