Author: Peris Gachago

If you need to sell your home quickly, working with cash buyers is one of the best methods. Always keep in mind that not all cash buyers are the same. Most sellers fall into certain traps, while some deals are abandoned as a result of a few mistakes. Are you planning to sell your property? In this article we will look at common mistakes to avoid when selling to cash buyers. 1. Asking too much money When selling your property to cash buyers, one of the pitfalls you should avoid is asking for too much money. Learn about the fair market value of your neighborhood’s properties and the homes that have…

What is Real Estate Commission in Kenya? Real estate commission is the fee that real estate agents and brokers get paid as their compensation for the work they put in to help complete a transaction. As RIS Media explores, real estate agents help clients with a variety of tasks throughout the buying and selling process, and compensation for this assistance comes in the form of a commission. The real estate commission also represents all the years of experience and training that the agent has cultivated to help the client get the best possible price for the home they want to buy or sell. This training and…

Ardhisasa is an online platform that allows Citizens to interact with land information held and processes undertaken by the government. What are the services you can access from the NLMS digital platform? Below is a look at them: Land Registration This is one of the services you can access on the NLMS is land registration. It deals with several things such as: Other services under land administration include the registration and termination of joint ownerships and stamp duty-related issues. Land Administration Services offered under land administration include: Physical Planning Physical planning services include the application and approval of development plans…

Any individual registered on Ardhisasa can make an application for adding property on behalf of a property owner. However, they should list the owner or owners using their Ardhisasa ID/National ID/registration numbers as the proprietors (owner). Click on My Properties button from the left side panel to add a property you own using your Ardhisasa ID Select the type of ownership which is either sole, joint, or proprietorship in common. Add all the proprietors. Provide the property details and upload a copy of title deed. For enquiries, please visit Ardhi House, Off Ngong Rd: P.O. Box 30450-00100, Nairobi,Kenya or email: [email protected]. The…

Real estate taxes in Kenya are levied and paid to state and county governments. The funds generated from real estate taxes are used to help pay for local and state services. Below are some of the taxes charged, both by the national and county government relating to land; 1. Land Rates This is a tax imposed by county governments within a municipality or township. Rates are payable in respect of services such as water, sanitation and sewerage services provided by the county. The imposition of rates is provided under the Rating Act while the Valuation for Rating Act empowers the county governments to value land to determine the…

Residential rental income, also known as Monthly Rental Income (MRI) refers to income derived from renting out residential properties for use or occupation. This tax applies to individuals and corporates with residential property only. Effective 1st January 2021, the Finance Act 2020 requires every resident landlord receiving rent income of between Kshs. 288,000 (Kshs. 24,000 per month) and Kshs. 15 million per annum are obligated to file and pay for MRI at 10% of the gross rent received either monthly, quarterly, semi-annually or annually. The return must still be filed monthly. No expenses, losses or capital allowances are allowed for deduction from the gross rent at the time of filing the return. Therefore,…

In Kenya, county governments have legislative authority to levy property taxes to finance some of the costs of the services they provide. Land tax is one of the land taxes imposed and varies depending on the location and size of the land e.g. Kshs 1,000 per hectare per annum. Land tax is levied only in designated urban areas while most agricultural land is not taxed. This tax applies equally to land whose title is on freehold and on leasehold basis. Land rates are charged on each parcel of land and payable to the county government. land rent is imposed on leasehold parcels and is paid to the ministry of land and physical…

Landlord and investors know that owning rental properties is one of the best ways to generate a steady cash flow while capturing long-term growth. The big question is how to get from deciding to buy a rental property to actually renting it out and managing the day-to-day tasks that come with being a successful landlord. There are several important steps you need to take to ensure a smoother process and protect your long-term interests. 1. Target the right tenants 2. Screen the potential tenants 3. Use the right forms 4. Enhance Professionalism 5. Manage the tenants issues well 6. Stay up to date with landlord law…

In today’s market, there is certainly no shortage of renters. However, for the landlords, it is about finding the right tenants for their houses who will treat their houses like theirs. Most landlords always strive to fill their properties with reliable clients who will pay the rent on time every month, keep the property in good condition and as well follow the rental agreement policy. Some Landlords always looking for long-term tenants so they don’t have any trouble looking for tenants each and every month. As much as they try it is not always easy to find such tenants but…

1. Communication is Always Key. Managing property, the right way is all about transparency, hard work, and communication. Because at the end of it all you have to set the right expectations by going the extra mile of ensuring you have clear lines of open communication. Communication here is the key. Every single dispute affecting the company is solved through communication and determining just what the problem is that a solution needs to be found. When one manages a company the right way, it not only increases your market but also increases your business with referrals and great reviews. You have…