Leasing property (whether residential or commercial) is a common practice in Kenya. However, understanding unregistered and unexecuted leases can be a challenge for both landlords and tenants.
Real Estate
Ardhisasa is a digital platform, launched on 27th April 2021 to help streamline the process of buying and selling land in Kenya. The platform seeks to improve land management in Kenya by resolving the numerous historical land problems experienced by Kenyans by providing a centralized, transparent and efficient system for land ownership, transfer and registration. The platform offers services relating to due diligence; land registration of cautions, leases, charges, replacement of title; land administration processes such as payment of land rents, extension and renewal of lease; physical planning activities such as the acquisition of approvals for development; valuation of property; adjudication and settlement; and land allocation by the National Land Commission.
One of the most frustrating things for any landlord is dealing with tenants who persistently default in paying rent when it becomes due. Non-payment or late payment of rent amounts to a breach of contract and the law grants a landlord the right to claim and recover any rent amount that is in arrears. The law provides the following legal remedies a landlord may pursue to recover unpaid rent
A listing agreement is a contract between a seller/property owner and a real estate agent. It allows the agent permission to sell property on behalf of a seller on agreed terms and commission. The Types of Listing Real Estate Agency Agreements: Exclusive Listing Agreements and Non-exclusive Listing Agreements.
Commercial property can be one of the most lucrative investments in real estate as it offers investors the ability to acquire more clients while growing their business interests. However, it is crucial to keep in mind that the dynamics of investing in commercial property differ from that of residential property since its more complex and involves more risk.
When the deal is too good, think twice! Information is power, and when it comes to buying property off-plan having the right type of information will help you, a prospective buyer or investor, make an informed decision on whether to invest or not. Buying property off-plan simply refers to purchasing property before construction is commenced or completed. Developers use pre-construction layouts, site developmental plan and building plans to market and sell their properties (apartments, villas, bungalows, townhouses) to prospective home buyers and real estate investors.
The Finance Act No. 22 of 2022 amended the Income Tax Act by increasing the rate of Capital Gain Tax (CGT) from the rate of 5% to 15%, effective from 1st January 2023. What is Capital Gains Tax (CGT)? CGT is a tax imposed on the gains which accrue on transfer of property situated in Kenya, on or after 1st January 2015 whether or not the property was acquired before 1st January 2015. A transfer of...
Introduction Conflicts between tenants and landlords are inevitable. The disagreement many times raises issues that more often than not find themselves before seats of justice. In particular, the tenancies that are not controlled. Where then can such conflicts, if and when they arise, be taken to a court of the first instance? That is the single most important question that this paper will delve right...
As a real estate investor, having a rental property is considered a great investment. However, managing the rental property as an individual has numerous challenges that are likely to undermine the value of owning such a property.
Kenyans living abroad account for a significant portion of investment in the Kenyan real estate industry. Real estate is often preferred to other investment classes due to its superior returns and the stability it offers.