If you are a landlord, then one of your monthly obligations is paying the Monthly Rental Income (MRI) tax. This is simply a 7.5% cut from your gross residential rent and it applies to individuals and corporate tenants earning yearly rents of about KES 288,000 – KES 15,000,000. For clarity, if you rental units combined bring in a gross of KES 24,000 – KES 1,250,000 monthly, then you are eligible for MRI...
Nairobi is the center of business activities in the country, more so, its town center which is named as the Central Business District (CBD). Research states that Nairobi CBD is home to over 21,000 small and medium enterprises (SMEs). When you include companies, banks, government institutions and the informal sector, you see why CBD is a major commercial hub. All these businesses and sectors employ...
The real estate and construction industry contributes around 15% to the Kenyan GDP. The split is often 10% real estate and 5% construction. However, these two industries are symbiotic and hence why they are grouped together. In recent years, the sector has been on a decline following a culmination of factors such as high interest rates, a sluggish economy and politically associated set-backs. The results...
Over the past decade, the term "climate change" has been flung around in nearly all conversations related to environmental issues. The term seemed like the answer to every issue that could not be explained in any sector. However, amid the confusion, one thing I respect about this is the fact that environment-related issues gained the much publicity they needed. By being engrained in all our conversations,...
One of the unavoidable costs that comes with owning a house is definitely the electricity bill. And while most places have access to power, the cost of electricity has really gone up. I remember a time when my friend received a monthly bill of Kes 120,000 for his 3-bedroom home. You see, the current state of monopoly in power companies as well as high demand for power has led to a spike in the cost of...
Installing solar panels is a long-term investment. However, small mistakes during installation can lead to poor performance, damage, or higher costs later. What is quite shocking is the fact that most customers are not aware of such faults until it is too late. For this blog, we have decided to highlight some of the common issues installers make, as well as how you can easily spot them. Here are some of...
What are land rates? Land rates is simply a form of property tax paid yearly to the local county government by a land owner. It is based on the unimproved value of your land and the amount varies depending on; your location, land size and amenities provided. Unimproved value means, the value of the land without buildings or any improvement – when bare. Rates are paid as a statutory obligation...
Taj Mall has been quite a contentious topic in the recent past following its demolition. Prior to its demolition, the mall was renamed AirGate Center. Which was the beacon of modern commercial centers in the late 2000s. The mall was owned by Rameshchandria Govin Gorasia, who is an Indian businessman in Kenya. It sat on a 4-acre parcel of land adjacent to the Outer-Ring road and is said to have cost...
REITs are regulated investment vehicles that allows people to collectively invest in Real Estate. By regulated, I mean that their activities and functions are controlled by the Capital Markets Authority (CMA). This is done to protect investors or Beneficiaries. The relationship between the trustee (which is normally a bank or financial institution) and beneficiaries (who are the investors) is called a...
Investing is the surest way to build wealth for anyone regardless of their age. And while there are many investment vehicles, real estate stands out as one of the most stable and most rewarding ones. Stick with me as I convince you why I think you should invest in real estate despite the massive discouragement by many “uninformed” persons. And because there are always two sides to every coin, we are...
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