Owners of rental houses in Mombasa can now earn upto three months of rent in advance from their property.
This follows a new asset management trend that gives house owners advance payment, in the wake of a bullish outlook for the city’s real estate sector.
According to Goldwyne Consult, the company behind the new management system, house owners can earn from a quarterly basis while tenants still pay on a monthly basis.
The new mode of payment gives property owners an opportunity to earn a lump sum which could be used to develop other properties.
“We are able to give the owner of the house three months rent which gives them a lump sum that they can put into other use instead of the monthly collection,” Goldwyne CEO Benedict Mutuku told the Star in an interview yesterday.
According to Mutuku, the new trend which has so far attracted more than 100 clients also empowers landlords to easily get loans from banks for developing other properties
“The mode also gives one enough money to improve services at the existing property. It saves you the hustle of having to wait for two to three months rent so that you can have enough money to do something,” said Mutuku.
A property owner- Nurani Mahmoud who is among landlords who have taken up the new payment mode said; “The quarterly system works very well especially for those who have continuous projects,”
Mombasa’s real estate sector is set to grow by 30 per cent this year driven by higher property prices.
Most housing units for rent in the area are apartments.
– See more at: The Star
