Tenants are the sole contributors to your income property success. Without tenants, you can't even pay the property expenses and the mortgage, leave alone the cash flow. That's why it's important to find tenants for your specific properties in different locations in Kenya.
Finding tenants in Kenya can be challenging, but there are a few ways to go about it. This post gives you various ways to help you get tenants who act as stepping stones in your income property business.
Most landlords who have followed the tips in this guide have succeeded in their property business, why not you?
Keep reading.
Tips To Find Tenants in Kenya
When looking for tenants in Kenya, it is essential to remember that the process differs from other countries. Here are a few tips to help you find the right tenants for your property.
In Kenya, there are different ways of finding tenants. The most common way is through agents or intermediaries. These are people who are paid to find tenants for landlords. They usually have a database of potential tenants and will match them to the landlord's requirements.
1. Newspapers
Start by advertising your property in local newspapers, like the Standard, Nation, and other papers in the country. This method will help you reach a broader range of target tenants. You can get new tenants who wish to relocate to your area. However, location is an essential aspect of this advertisement method since the newspapers are sold countrywide.
2. Property management company
You can also contact a property management company to help find tenants. In addition, try contacting local real estate agents to see if they have any potential tenants. Real estate agents are the go-to individuals who show tenants and buyers the available houses. Once you talk with them, they may help you, and you can give them a commission.
3. Online sites
Another way of finding tenants is through online platforms such as Property254. These platforms allow landlords to list their properties for free, and potential tenants can contact them directly.
4. Word of mouth
Through word of mouth, you can get potential clients to rent your property. This is where landlords tell their friends, family, and acquaintances that they are looking for tenants, and they may know someone looking for a place to rent.
Factors to Consider When Searching for Tenants
There are a few things to remember when finding tenants.
Do a background check and ensure they have the financial means to pay rent.
Once you have found a tenant you are happy with, sign a detailed lease agreement.
Make sure to include clear pictures and detailed information about the property.
The Pros and Cons of Each Method of Finding Tenants in Kenya
There are four main methods of finding tenants in Kenya: through an agent, online, through word of mouth, or by advertising in local newspapers or on notice boards.
Each method has its pros and cons, and it is essential to weigh these up before deciding which is the best option for you.
Using an agent or property management company
Using an agent to find tenants can be a good option if you don't have the time or resources to do it yourself.
However, it is essential to remember that agents will charge you a fee, which can vary depending on the agent and the services they provide.
Through online advertising
Looking for tenants online can be a good option if you are comfortable using the internet and online tools. Several websites allow you to list your property for free, which can be an excellent way to reach a broad audience.
However, it is essential to remember that not all tenants will be comfortable using the internet, so you may also need to consider other options.
Word-of-mouth advertisement
Word of mouth can be a cheap and easy way to find tenants, but it is important to remember that not everyone will have the same network of contacts. You may also need to consider other options to reach a wider audience.
Local newspapers
Newspapers are still a good way to advertise businesses, especially your income property business. Every day usually has a new paper with trending news. Therefore, you can take advantage of that and pay for daily publishing of your rental property.
The biggest limitation of newspapers is that the audience is always diminishing. People, even grandmothers, are going digital, meaning they get most of the news online. As a result, they won't need a newspaper to learn the trending issues.
The Most Effective Way to Find Tenants in Kenya
There are various ways to find tenants in Kenya. The most effective way to find tenants in Kenya would be to use a professional property management company.
These companies have databases of potential tenants and can match you with the right tenant for your property.
They will also handle all necessary paperwork and background checks to ensure that the tenant is a good fit for your property. Other better ways to find tenants in Kenya include online listing sites, classified ads, and word of mouth.
The Bottom Line
The most important thing for landlords is finding responsible tenants who will take good care of their property.
Finding the right tenant is a great milestone for your income property business. You should also strive to be a good landlord if you want long-term relationships with your tenants.
Frequently Asked Questions
How can I get tenants easily?
If you want to get tenants fast, you should be aggressive in your marketing. You can use word-of-mouth, social media and websites, newspapers, and real estate agents' advertisements to get clients faster. Once you combine all those methods, though it will be expensive, you'll end up with high-quality clients.
Can a landlord evict a tenant?
Yes. The landlord has the right to evict a tenant if they don't pay rent for consecutive months. If the tenant delays for one month, the landlord can give them a one-month notice, and if they don't honor their commitment, you can evict them.
How do you attract office tenants?
Offices do well in urban centers. That's one thing you should remember to succeed in the office leasing business. You can place advertisement banners on newspapers, online platforms, and eclectic posts.
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