Lamudi Kenya Looks At What To Look For Before Signing A Lease
Leasing a property is relatively a cheap way of securing a property. The all-time high mortgage rates and exorbitant house prices makes owning a property a mirage to many people. With an increase in fraud and termination of the lease agreements without the proper procedure, one needs to be cautious when signing a lease agreement.
Lamudi Kenya MD Dan Karau says, “Most standard leases are not detailed enough, which could be troublesome if the verbal agreement was not in writing too. Once you sign the lease agreement, you are locked in, therefore you need to discuss with the prospective landlord and make sure it’s put it in writing.”
Often, the landlords do not materialize their agreement with the potential tenant, thus the tenants get duped by landlords who make promise that they don’t deliver.
Lamudi Kenya looks at what to look for before signing a lease:
Background check on the tenant/landlord
You need to do a thorough background check on the landlord to ascertain the property is his or is a legit agent who has been contracted by the owner to act in his behalf in leasing the property. The landlord also needs to do a milieu on the potential tenant to make sure they are genuine people who won’t con them off their property. Before you make up your mind, you can ask for a copy of the lease to review the complex rules and policies.
Take a moment to consider what would happen when things go wrong. One way is to check how much extra you would pay on the utilities and what’s the payment procedure in detail. This could be your electricity, water, garbage, security, telephone, cable and Internet. The lease should clearly state what’s included in the rent－ and what’s not.
Most leases do not agree on renovations in the property apart from commercial properties. If they do agree on renovations in the house, you need to know who will cater for it and the conditions for renovating the house. Whether you want to install your own lighting, a different paint color, or anything that will affect the infrastructure, make sure the lease has stated the procedure for it.
With the rise of insecurity in the country, one needs to know his fellow tenants, before signing the lease agreement. This will greatly help in curbing insecurity and creating a safe and secure environment for everyone. Especially in a building where there are more than two occupants, try to make an effort to get to know the people around, you’ll find that you have a much safer environment.
Launched in 2013, Lamudi is a global property portal focusing exclusively on emerging markets. The fast-growing platform is currently available in 28 countries in Asia, the Middle East, Africa and Latin America, with more than 600,000 real estate listings across its global network. The leading real estate marketplace offers sellers, buyers, landlords and renters a secure and easy-to-use platform to find or list properties online.
Africa Internet Group introduces and accelerates the online shift in Africa – for its people and its culture. It is committed to running successful and vibrant internet companies which boost the evolution of African online culture.
AIH is the parent group of nine successful and fast-growing companies in more than 20 African countries, accounting for over 3000 staff. AIH cares about entrepreneurship and brings together all the key elements required to build great companies: team, concept, technology and capital. Its network of companies includes JUMIA, Kaymu, Hellofood, Lamudi, Carmudi, Zando, Jovago, Lendico and Easy Taxi.