Solving Landlords Headache.

Constant repairs on your property will not only keep you constantly preoccupied with your building, but can also cause you a considerable amount of stress. You will be required to deal with things like broken windows, clogged toilets and pipes, and leaking roofs. How experienced are you with regard to repairs and maintenance? If you do not wish to spend your time looking for plumbers and electricians, then it is advisable to seek help.

At Simani Property Agency, we have in-house plumbers and electricians who are always on stand-by to solve problems as they arise.

A property management company does not necessarily mean diminished revenues. When many Landlords signed up with Simani Property Agency, they had problems getting and retaining tenants. We suggested minor aesthetic improvements to their houses, which made them more appealing to prospective tenants.

Since we know how rents within a region compare, we usually suggest optimum rental pricing for maximum tenant profit and tenant retention. That way, the property doesn’t stay vacant for long because of extremely high rents and the landlord does not lose revenue due to abnormally low rates.We usually go the extra mile of advertising the property, thus ensuring shorter vacancy cycles.

As a landlord, dealing with tenants who default on rent and damage your property can be a harrowing experience. So when selecting tenants, you should be able to identify the ones who will not only take good care of your property, but are can also consistently pay rent on time. “Prevention is better than cure. Getting the right tenant will save you the money, time and stress of evictions. As an agency, we have years of experience in “reading” people and can tell a serious tenant from a potential troublemaker from a mile away. Nevertheless, we put all thoroughly screen all potential tenants.

Collecting rent on time every month is the only way to ensure a consistent cash-flow, the way a landlord handles the collection of rent will determine whether he/she succeeds or fails as an investor. Noting that many landlords condone late payment of rent, We warn that this tendency could mean a death blow to one’s enterprise. She insists that tenants should know that the agreed time for paying rent every month is not negotiable.

When Should You Hire a Property Management Company?

Although hiring a property management company has many advantages, using one can be expensive. And, even apart from the cost, relying on a property management company is not for everyone. Consider the following factors to determine if hiring a property management company would be a good decision for your business.

You should consider hiring a property management company if:

You have lots of properties or rental units. The more rental properties you own and the more units they contain, the more you're likely to benefit from a management company.

You don't live near your rental property. If your rental property is located far from where you live, hiring a property management company can be invaluable in dealing with the many issues that you will not be able to handle from afar.

You're not interested in hands-on management. Many landlords look forward to the challenge of finding good tenants and the rewards of maintaining a safe and attractive property on their own. But if you view rental property ownership strictly as an investment and want little or nothing to do with the day-to-day management of your properties, consider hiring help to manage your property.

Your time is limited. Even if you enjoy hands-on management, you may not have much time to devote to your business, especially if landlording isn't your day job. And if you prefer to spend your time growing your business, including searching for new properties, arranging financing for renovations, or changing your business structure, then a management company may be a good way to spend your money.

You can afford the cost. Hiring a property management company is an attractive option if you can afford the fees. When interviewing companies, expect to hear quotes ranging between 5% and 10% of what you collect in rent revenue. If it's a down market and you're able to manage things yourself (or with the help of a resident manager or other employees), you may want to keep doing so until the market turns around.

You're suddenly inundated with management tasks. If your business is growing, at some point you may find that you need a substantial amount of help to manage everything properly. At that point, it might make sense to hire a management company.

You don't want to be an employer. If you hire a resident manager or other employees to help with your property, you become an employer. You'll have to handle payroll and deal with a host of other legal requirements and considerations. But, because a property management company isn't your employee (it's an independent contractor), and neither are the people who work for the company, by using one you avoid the hassles of being an employer.

Your property is part of an affordable housing program. If you participate in an affordable housing program, things can get complicated. Usually, in these programs the landlord receives financial assistance, which may be in the form of a grant, low-interest loan, or tax credits, in return for agreeing to rent at least part of the property to tenants earning below a certain income level. In order to continue receiving the assistance, the landlord must comply with a complicated set of rules. With so much at stake, it's often worth hiring a property management company that has expertise and experience with the particular housing program in question.

Silky tarmac has replaced potholes in a road upgrade programme that has opened up the outskirts to investors.

Boosted by billions of shilling from the dispora that have spurred rapid growth of the region’s economy, Kisii is not just an agricultural town any more but a gem for investors in varied sectors.

Property investors are scrambling to put up housing developments in Kisii town and its environs, attracted by good road networks and security.

Boosted by billions of shilling from the dispora that have spurred rapid growth of the region’s economy, Kisii is not just an agricultural town any more but a gem for investors in varied sectors.

The region is famous for its production of food, especially bananas and avocado, but population pressure has led to intensive demarcation of land.

Real estate agents say the rising demand for land that is hardly available has led to a huge spike in prices.

Evans Mbaka, a land dealer in the town, says buyers are attracted by the availability of water, electricity and passable roads.

“For the first time in more than 20 years, Kisii County is having major roads being undertaken by both the county and national governments,” he says.

Skyrocketed

Construction of the 90-kilometre Kisii-Isebania road at a cost of Sh8.6 billion has, for instance, led to the skyrocketing of land prices along the corridor.

The multi-billion-shilling project was identified by East Africa Community Master Plan 2012 and is being funded by the African Development Bank in conjunction with the Kenyan government.

The project that started three years ago has more than 15 access roads and has resulted to jostling for space in the outskirts of Kisii town.

Numerous investors who had bought land outside the town years ago are now setting out to develop the parcels.

The road project has seen some investors in the hotel and hospitality industry move outside Kisii town and put up facilities in some of the serene areas in the outskirts.

Silky tarmac has replaced potholed roads, and with it the price of land has shot up.

Between Nyamataro and Nyambera, less a kilometre from the Central Business District, the price of an eighth of an acre that was selling at Sh500,000 about 10 years ago is currently selling at Sh4 million.

Egesa, along the Kisii-Kisumu road, which was previously shunned by land buyers, has in the recent past seen development of several gated communities. Here there is no more land for sale.

A 25 by 100 feet piece could go for Sh5 million. An investor has put up a multi-million-shilling hospital there - Nairobi Women Hospital.

Nyanchwa, Getare, Suneka, Mosocho and Nyakoe are becoming the next destination for high-end housing developments.

Duncan Simani, the chief executive of Simani Property, says land prices have gone up by 70 per cent.

“The opening up of businesses such as hardware shops and general stores is a sign of growth in the real estate,” he says, adding that returns on real estate in the town are at peak.

“Kisii was deemed rural some 15 years ago but the booming real estate development is unparalleled.”

One of the fastest growing economies in Western Kenya, Kisii accounts for 60 per cent of total money circulating in the region.

Central Bank of Kenya has already built a money clearing and forwarding centre in the town that is due for opening soon.

Steady growth

The steady and consistent growth of financial, hospitality and health services in the town can be attributed to a number of factors including the increasing demand for socially responsible investment.

Kisii Governor James Ongwae says the county and national governments have implemented key projects in water, agriculture and transport that will spur economic growth in the area.

“We have readily available human capital. The peaceful co-existence of our people has given us a lead in attracting key players in the economy,” he says.

Richard Nyabwari, a resident of Nyabioto area along the Kisii-Migori road, says devolution has brought about expansion of urban areas.

“We even have non-locals buying land in the outskirts of Kisii town, which was not the case few years ago,” he says.

Source: Standard Newspaper, Thur May 28, 2020

by eabuga@standardmedia.co.ke

Why Kisii town is a new gem for real estate developers.

.Dealers say prices have shot up by at least 70pc in 10 years

Silky tarmac has tarmac replaced potholes in a road upgrade programme that has opened up the outskirts to investors .

by Eric Abuga

.Property investors are scrambling to put up housing developments in Kisii town and its environs, attracted by good road networks and security.

.Boosted by billions of shilling from the dispora that have spurred rapid growth of the region’s economy, Kisii is not just an agricultural town any more but a gem for investors in varied sectors.

The region is famous for its production of food, especially bananas and avocado, but population pressure has led to intensive demarcation of land.

.Real estate agents say the rising demand for land that is hardly available has led to a huge spike in prices.

Evans Mbaka, a land dealer in the town, says buyers are attracted by the availability of water, electricity and passable roads.

“For the first time in more than 20 years, Kisii County is having major roads being undertaken by both the county and national governments,” he says.

Skyrocketed

Construction of the 90-kilometre Kisii-Isebania road at a cost of Sh8.6 billion has, for instance, led to the skyrocketing of land prices along the corridor.

The multi-billion-shilling project was identified by East Africa Community Master Plan 2012 and is being funded by the African Development Bank in conjunction with the Kenyan government.

The project that started three years ago has more than 15 access roads and has resulted to jostling for space in the outskirts of Kisii town.

Numerous investors who had bought land outside the town years ago are now setting out to develop the parcels.

The road project has seen some investors in the hotel and hospitality industry move outside Kisii town and put up facilities in some of the serene areas in the outskirts.

Silky tarmac has replaced potholed roads, and with it the price of land has shot up.

Between Nyamataro and Nyambera, less a kilometre from the Central Business District, the price of an eighth of an acre that was selling at Sh500,000 about 10 years ago is currently selling at Sh4 million.

Egesa, along the Kisii-Kisumu road, which was previously shunned by land buyers, has in the recent past seen development of several gated communities. Here there is no more land for sale.

A 25 by 100 feet piece could go for Sh5 million. An investor has put up a multi-million-shilling hospital there - Nairobi Women Hospital.

Nyanchwa, Getare, Suneka, Mosocho and Nyakoe are becoming the next destination for high-end housing developments. '

Duncan Simani, the chief executive of Simani Property, says land prices have gone up by 70 per cent.

“The opening up of businesses such as hardware shops and general stores is a sign of growth in the real estate,” he says, adding that returns on real estate in the town are at peak.

“Kisii was deemed rural some 15 years ago but the booming real estate development is unparalleled.”

One of the fastest growing economies in Western Kenya, Kisii accounts for 60 per cent of total money circulating in the region.

Central Bank of Kenya has already built a money clearing and forwarding centre in the town that is due for opening soon.

Steady growth

The steady and consistent growth of financial, hospitality and health services in the town can be attributed to a number of factors including the increasing demand for socially responsible investment. '

Kisii Governor James Ongwae says the county and national governments have implemented key projects in water, agriculture and transport that will spur economic growth in the area.

“We have readily available human capital. The peaceful co-existence of our people has given us a lead in attracting key players in the economy,” he says.

Richard Nyabwari, a resident of Nyabioto area along the Kisii-Migori road, says devolution has brought about expansion of urban areas.

“We even have non-locals buying land in the outskirts of Kisii town, which was not the case few years ago,” he says.

Source: Standard Newspaper, Thur May 28, 2020

By Eric Abuga,

eabuga@standardmedia.co.ke