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Tenants to pay part of rent to KRA in new taxation plan

16 December 2014 in Real Estate

The taxman plans to have tenants pay part of the rent directly to his accounts. The Kenya Revenue Authority (KRA) says tenants will be expected to make simultaneous bank deposits, one to the landlord and then to KRA. Landlords will be required to show compliance by producing the bank deposit slips. The proposal seeks to simplify payment of rental income tax by landlords and will also introduce a flat rate of taxation on income received from tenants. It will not take into account any costs or profitability of the buildings, but will be similar to a turnover tax on SMEs,…

Co-ownership in Property investment

03 May 2014 in Real Estate

If you are fed up with paying your landlord's mortgage and want to buy your own home, but simply cannot afford it, then co-ownership may be the answer.Investment property can be held through a variety of titles - owned in your name, a company, trust, shared ownership or joint ownership Investing as a sole (private) purchaser Here the property is registered in one name only - usually yours. Under this arrangement, rental income is received by you only, and expenses relating to the property can only be offset against your income. Joint OwnershipOwnership of the property is split equally between…

What to Look for Before You Move In

28 March 2014 in Real Estate

Whether you're moving into a new apartment or ending your current lease and checking out of one, you need to make a thoroughly documented inspection of the entire unit. We know you're eager to get unpacked and start decorating the new place, but this is really important.Before you complete a tour of your potential new unit, review this list to make sure you know what to look for before you move in. If there are any items that need to be repaired or replaced, make sure the landlord does this before you move in. If there are many things wrong…

What is a Serviced Plot?

14 February 2014 in Real Estate

The phrase "serviced plot" has become common in Kenya but what does it really mean? According to http://dictionary.reference.com/browse/serviced?s=t the term serviced means: the supplying or supplier of utilities or commodities, as water, electricity, or gas, required or demanded by the public. The supply of these amenities go beyond the basic needs of an estate and may include roads, water treatment plant, surface water drainage, landscaping and the list goes on. Consequently, the supply of these amenities derives the phrases "fully serviced plots" and "semi-serviced plots". These amenities in Kenya are either provided by the three classes of local authorities: City, Municipality, and Town authorities or…

A Dream without a plan is a just a Dream

23 January 2014 in Real Estate

Every New Year is greeted with a lot of excitement, optimism, a lot of expectation, and quite a number of resolutions. While all this enthusiasm is important, the lack of a dream and proper planning will turn this year into just another year. If 2014 was and is the year you decided you were going to invest in property, your biggest motivation should be the DREAM. If you ever dreamt of acquiring or investing in property, then you have already made the first step. However, dreams without concrete plans remain just that, dreams. Dreams don't just stumble into reality, they…

Tips for Buying or Building a Valuable Property

20 November 2013 in Real Estate

Do you know how to value a house? A potential buyer may only notice whether or not there are granite countertops, an open floor plan or a well-groomed lawn when deciding whether to buy and what to pay for a home. To get top value, it helps to know what could hurt your home's value, whether you're looking to sell now or later. Some factors are out of your control, while others have simple solutions. Keep in mind, though, that every market, neighborhood and home is different, so the actual impact on each home's value can vary considerably. 1. Location…

How to Pick the Right Agent to Sell Your Property

06 September 2013 in Real Estate

If you're selling your house, a good real-estate agent will help you figure out the tricky world of setting the right price, market the home professionally, qualifying the buyers and expertly negotiating and finalizing the deal. So with all the property agents available in the market, how do you make the choice on whom to entrust with this great task? 1. Round up good prospects To identify prospective agents, you can ask for referrals from neighbours or friends or use the search tools on the internet. Try to limit your search to agents with credentials that match your needs. For…

Property Management in Kenya

07 August 2013 in Real Estate

The Real Estate sector in Kenya is attracting some heavy investment opportunities from a vast number of people and for those people investing in Real Estate, one question you are likely to face is whether or not to contract a Property Management Agency. To be quite frank, you might wonder why you need to hire someone to do this work for you when you can use that money to invest in your next venture. However, looking closer at this issue you realize that a property manager comes with a wealth of advantages, namely: Better screening and quality of tenants Better…

Implementation of konza techno city on course

06 August 2013 in Real Estate

Tuesday 11, 2013, The establishment of Konza City is one of the key flagships projects of Vision 2030 which will position Kenya as the regions ICT hub and also through the housing of International Investors in setting up of shops and other amenities. The City has been allocated 1.3 Billion this year is to begin the construction of the 1st phase which will be launched by President Uhuru before later this year. In a bid to speed up the construction and development of Konza Techno City, the government has formed a Consultative Community Forum to engage area locals and neighboring communities…

GEMS: Growth Enterprise Market Segment

23 July 2013 in Real Estate

We could soon own shares in some of our favorite SME’s. Yes, you read that right. This is as a result of the CMA together with the NSE and the CDSC launching the Growth Enterprise Market Segment (GEMS) in January this year. The Segment aims at providing a more facilitative framework for Small & Medium Enterprises (SME’s) to access listing of the approved securities exchanges. A great example of a listed small comapany is Home Afrika, a property developer here in Kenya whose shareholders recently assented to the company’s bid to establish a Sh10 billion consolidated fund. This fund in addition…

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Latest blog articles

  • Tenants to pay part of rent to KRA in new taxation plan
  • Co-ownership in Property investment
  • What to Look for Before You Move In
  • What is a Serviced Plot?
  • A Dream without a plan is a just a Dream

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