“Iyo ni kutupa Pesa” This a common phrase used by many Kenyans who feel like renting is not their thing. When you normally go upcountry where majority of the residents own property, this perception is usually huge.
But you cannot ignore the fact that the number of renters is on the rise, and the traditional mindset about renting is now changing.
Lets debunk some of the myths you’ve heard out there
- You are throwing money: Many people will tell you that you are throwing money away because you are only paying the landlord and not getting any equity of the home. But that is not actually true because you are paying to live in that house and not throwing your money in a thrash. In addition renting does not come with household maintenance costs because most of the time your landlord takes care of them. Moreover buying a home may not be a wise financial decision for you right now if you are starting out and living in an expensive housing market like Nairobi. Renting maybe your best fit right now.
- It will be difficult to get a lease: Many people think that when you sign an agreement of lease, you will have tied yourself to difficult deal in case you were intending to buy a home later on. But that is not the case, of-course you will talk to your landlord and read the lease carefully and If you’re relocating, another option is to work with your property management company to find available units at a sister property or even in another state.
- You have no negotiating power: Many people assume that the landlord has all the power but just in case you don’t know, renters have a lot of negotiating power when they are signing leases. You can ask about job relocation clauses etc.
That’s it. Just incase you need more information about Renting, talk to us.