property The
NOVEMBER 2011
Everything real estate
Kshs. 200 Ushs. 7000 Rwf. 2000
zone ISSUE 017
Do-It-Yourself DĂŠcor All about Indoor Plants
Student Housing A Great Niche in Real Estate Investment
Real Estate Marketing How to create high-impact adverts
Joint Ventures
legal advice on how to protect your interests
50% sold
in Westlands
NAWIRI PROPERTIES Talbot Court, Suite No. 2, Westlands Avenue P.O.BOX 51370, 00200 NAIROBI CALL: 0714 274 954, 0734 037 010 The Property Zone November EMAIL: nawiri@propertyzonekenya.com
2011
40% sold
in Kileleshwa
NAWIRI PROPERTIES Talbot Court, Suite No. 2, Westlands Avenue P.O.BOX 51370, 00200 NAIROBI CALL: 0714 274 954, 0734 037 010 EMAIL: nawiri@propertyzonekenya.com
The Property Zone November 2011
Editor’s note T
he Jacaranda tree has flowered, treating us to the beautiful purple cover that usually serves to tell me the year is drawing to a close. And what an eventful year it has been. In this November issue we offer a full menu of content for you our reader.
And as usual we respond to your feedback and do our best to bring you the information you need and want. In the Realtor Zone in the September issue we discussed how to diagnose a prospective
property
The
Everything real estate
zone
Managing Editor: Christine Mweteeli
christine@propertyzonekenya.com
Contributing Writers: Katunge Kyambo Njoroge Regeru Tina Muthoka
Design and Layout: Tony Mwangi
tenant who will be trouble. Due to readers’ request, this month we flip the coin and look at landlord related issues.
Advertising Sales:
sales@propertyzonekenya.com Our country has experienced a lot of growth in the number of students in colleges and universities. This has created a great opportunity for investment in real estate, and is the subject of our Low Hanging Fruit this month.
C E O: Michael Mweteeli
michael@propertyzonekenya.com
While we continue to bring to your attention the numerous opportunities that exist in the Real Estate sector, none of them will be of any use to the investor who lacks the skill of Sales. The tips in Investment 101 will help anyone who seeks to improve in this crucial skill.
Distribution:
JETsam Distribution Ltd P.O.Box 3762 - 00506 Nairobi - Kenya
As part of the selling strategy, a real estate investor will need to advertise. This is really the only way anyone will know what you have to offer. Read an expert opinion on what makes one advert sell better than the next in the Expert Zone column. Use these and you will create high impact adverts every time.
In Stylish living we discuss indoor plants as part of your décor which falls in the do-ityourself category which need not involve too
Published by:
Property Zone Consulting Ltd No. 2 Talbot Court Westlands Avenue P. O. Box 51370 00200 Nairobi Tel 020 444 3161, 020 8068344 0738 851 375, 0722 789 495 info@propertyzonekenya.com
much expense or expertise.
I recently attended the funeral of my high school headmistress, a lovable lady who lived a full life and made a great influence in my life. I pay tribute to her in the Inspiration column this issue by sharing a few of the lessons I learnt from her.
Enjoy your reading, I will talk to you soon.
The Property Zone November 2011
The Property Zone is published by Property Zone Consulting Ltd. All rights reserved. The contents and opinions expressed herein are not necessarily representative of the view of the Publisher. All material published is deemed to originate from the author and publisher will not accept any liability whatsoever in respect to articles that have been sourced from contributors. The Vendors or purchasers are required to make their own judgment on the details contained in each advertisement. While every caution is taken in compiling the contents of this magazine, the publisher will not accept any liability for the effects arising thereof. No part of this publication may be reproduced in any form without written consent from Property Zone Consulting Ltd.
The Property Zone November 2011
property
The
Everything real estate
zone
10 Stylish Living Indoor plants Single touch to complete any dĂŠcor job
16
Investment 101
26
Legal Experts REAL ESTATE JOINT VENTURES: PROTECTING YOUR INTERESTS
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22 Low Hanging Fruit
Realtor Zone Wisdom to Tenants
Landlord woes and how to avoid them
40
Inspiration Lessons from my teacher
The Property Zone November 2011
Who we become is due to a large extent on to the teacher who touched our lives
Jabavu House-Jabavu Lane, Argwings Kodhek Rd Hurligham Mombasa Rd, Vision Plaza, P.O. Box 22852-00400, Nairobi, Kenya. Tel: 254 20 8014480/1, 254 723 733 050,Email:adam@slimseastafrica.com
Home Furniture & Fittings
Visit our show room for: • Stylish office • Hotels
• Stylish homes • Bar stools
• Recreation centers • Garden furniture
• Cinema furniture • Beds & matresses
The Property Zone November 2011
GCL TILE MASTERS
GANAPATI CERAMIC LTD Dealers in: Wide range of quality tiles, ceramic wall tiles, Floor tiles, granite, Sanitary ware, & other Building items all at competitive
Deals with quality
SECURITY GROUP SHELL P. STATION CAPITAL CENTRE
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GANAPATI CERAMIC LTD
Security door, Ceilings and other related Products at very competitive prices Ex. Nairobi price inclusive of V.A.T
Wall Tiles 20 x 30 Floor Tiles 30 x 30 Granito 50 x 50 Granito 60 x 60 Floor Tiles 40 x 40 Cloak Room Set Bath Tabs
OFFER ON CERAMIC FLOOR & WALL TILES
United Complex, Shop No.3 Mombasa Rd Opp. Crater Automobiles Before Airtel ( Formerly ZAIN) , Tel: 0733 698925/ 020202168709 Email: anshulanvi@yahoo.com
Maestro Properties Limited Real Estate Consultants
Maendeleo Hse Monrovia St. 8th Flr, P.O Box 5479-00506, NAIROBI Tel: 20 312816/210117, Fax: 20 221419, Mobile 0724434542/0721330066 Email: info@maestro.co.ke
Plots for Sale - Ngong’ From Ngong’ District Hospital
Plots
Ngong’ Town
NPC
Jehovah’s Witnesses
Ngong’ Stadium
To Matasia
Subdivision Ngong’ 1/4 acre plots Price: From 1.8M
The Property Zone November 2011
“Seal of unbroken Promise”
The Property Zone November 2011
Stylish
LIVING
Indoor plants
It is hard to imagine Décor that doesn’t call for at least a few house plants placed in just the right spots 10
Single touch to complete any décor job
The Property Zone November 2011
By PZ Writer
T
here is hardly anyone who does not appreciate a beautiful plant in the corner of a room. Some of us may be better at caring for plants than others but we all appreciate the great touch of beauty it brings – whether at home or in the office.
The benefits of having some plants in our homes are numerous. House plants automatically create a sense of coziness and put people at ease. When used properly, they can make large spaces look intimate and magnify small spaces to create an impression of depth. The real value of house plants lies
Stylish
LIVING
in their use as decorations for the home. It is hard to imagine decor that doesn’t call for at least a few house plants placed in just the right spots. But the greatest advantage that live plants bring indoors in the cleaning of the air we breathe. Even the most un-scientific of us remember that plants inhale in carbon dioxide and exhale oxygen.
infections. Headaches are many times caused by being indoors too long, being in stuffy rooms and generally breathing stale air and this is countered by having plants in the rooms in which we spend most of our time.
Even the most unscientific of us remember that plants inhale in carbon dioxide and exhale oxygen.
This is the exact opposite of what we do and so the exchange is the perfect balance, removing any airborne contaminants and purifying the air we breathe. Studies have shown that the humidity in a room is regulated by having plants in it and this serves to prevent colds and respiratory
On the whole the quality of our lives is enhanced greatly by just adding a plant or two in our home. You may be thinking this is all good but the reason you don’t want a plant in the house is the same reason you don’t want a dog – too much involvement. You probably get home too late and too tired to worry about watering a plant in every room. Not to worry, you will not
need to hire an expert to mind your plants; with a few tips, you will do just fine without professional help. Let us look at a few tips on how to make sure the plants in your home don’t become a bothersome chore. Choose the right plants Most houseplants will thrive in a well-lit, draught-free spot with an even temperature and reasonably high humidity. However some plants have specific needs. For instance, flowering plants and those with variegated foliage need more light than plants with plain green foliage, while ferns like a darker position. Cacti, succulents and carnivorous plants like a bright windowsill. Orchids thrive in bright, indirect light and if possible, lots of fresh air and high humidity. The plants however differ in the quality and quantity of the requirements that they
The Property Zone November 2011
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Stylish
LIVING
must have in order to grow successfully. Care for plants is all about how best you satisfy the following needs of the plants. Air Temperature Most house plants tolerate normal temperature fluctuations. The aim here is to keep the environment as close to nature as possible. Excessively low or high temperatures may cause plant failures, stop growth, or cause spindly appearance and foliage damage or drop. A cooler temperature at night is actually more desirable for plant growth than higher temperatures. Light Light is a basic need for plants, natural light that is, (remember they make their food through photosynthesis) which is why any plant in a poorly lit room will grow towards the light. No plant will do well without sufficient natural light. It is a good idea to bring an indoor plant out every one or two weeks for healthy growth. Water Though water is another most important need for plant growth, over-watering is one of the most common mistakes we make in the care of house plants. There
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The Property Zone November 2011
Stylish
LIVING
is not specific rule to be applied here; experience will show you just how much water is enough. Too much water will kill it just as soon as too little will. Feel the soil in the pot for dampness. If the soil is damp, the plant does not need watering. If it is dry sufficient water should be applied so that the water drains out from the drainage holes at the base of the pot. The pot should be placed on a plate so as to prevent the water sipping though to the floor or carpet. Humidity You must have noticed the tips of leaves turning brown and wilting very soon in an air-conditioned room. Air-conditioning dries out the humidity in the air. The plants loose water faster in an air-conditioned room through the openings in their leaves than they can replace it through t h e i r roots. To remedy this we must add humidity for the plants,
it may be a good idea to: i. Place the plants on a tray of wet pebbles. The water evaporates upward from the surface of the stones and creates a humid atmosphere around the plants ii. Group the plants together so that they can break the air currents blowing on them and also take advantage of the moisture evaporating from each other. A mug of water can be placed in between then for better result. iii. Spray water on the leaves of the plant. Feeding Many plants will grow without too much feeding, as long as the quality of soil was good to begin with. But flowering plants require more
nutrients and may benefit from regular addition of fertilizer or compost. This area too will follow no rules, just observation. When moving plants into bigger pots, add a few granules of slow-release fertiliser to the compost, but follow the manufacturer’s guidelines to avoid overfeeding. Pruning Most plants are pretty easy to look after. Pinch off dying flowers with your thumb and forefinger and remove any damaged or yellowing leaves. This will keep the plant healthy and beautiful. Remove wayward branches if necessary to keep the size of the plant in check. Obviously potted plants will outgrow the pots and eventually need to be transplanted out-doors and replaced. Cleaning Dust can quickly build up on leaves. This not only looks unkempt but also prevents plants from growing properly. Clean with a piece of cotton wool dipped in water.
The Property Zone November 2011
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The Property Property Zone Zone November October 2011 The 2011
Nyumba Comfort
Home made jokes
Custom - made mosquito nets and curtains
• Carpeting • Office layout • Vertical Blinds • Sofas, duvets, cushions • Paintings & colour consultancy
Children! What will they say next? A small boy is sent to bed by his father. Five minutes later..... ‘Daad....’ ‘What?’ ‘I’m thirsty. Can you bring drink of water?’ ‘No, You had your chance. Lights out.’ Five minutes later; ‘Da-aaaad.....’ ‘WHAT?’ ‘I’m THIRSTY. Can I have a drink of water??’ I told you NO! If you ask again, I’ll have to spank you!!’ Five minutes later......’Daaaa-aaaad.....’ ‘WHAT!’ ‘When you come in to spank me, can you bring a drink of water?’** A mother was ironing the clean laundry one day. Her son asked her, “Mother, why are you ironing those clothes?” His mother said, “To make them nice and wrinkle free.” Her son said, “Then, why don’t you iron Grandma’s face? An exasperated mother, whose son was always getting into mischief, finally asked him ‘How do you expect to get into Heaven?’ The boy thought it over and said, ‘Well, I’ll run in and out and in and out and keep slamming the door until St. Peter says, ‘For Heaven’s sake, Tommy, come in or stay out!’’ A mother was struggling to get the ketchup out of the bottle when the phone rang. She asked her four year old daughter to answer it. She heard her daughter say, “Mommy can’t come to the phone. She’s hitting the bottle.” A policeman was taking a vandalism report at an elementary school when he was interrupted by a six year old girl. She looked up and down at his uniform and asked, “Are you a policeman?” “Yes, I am,” he said. “My mother told me that if I ever needed help I should ask a policeman. Is that right,” the girl asked. “Yes it is,” said the policeman. The girl extended her foot to the policeman and said, “OK, then, would you tie my shoe?” A little girl asked her mother, ‘Can I go outside and play with the boys?’ Her mother replied, ‘No,you can’t play with the boys, they’re too rough.’ The little girl thought about it for a few moments and asked, ‘If I can find a smooth one, can I play with him?’
Tel: 0720-531909, 020-2056129 Email: info@nyumbacomfort.co.ke
www.nyumbacomfort.co.ke
INVESTMENT
101
Selling Formula
The ability to sell, a crucial skill for any real estate investor By PZ Writer
O
n my way to work recently I was struck by a block of apartments in an up-market neighbourhood in Nairobi have remained unoccupied for quite a while. From the outside the houses look just fine.
completed, there is definitely cause for concern here. Now I may not have any details of the Property I refer to above, but it got me thinking – there is need for a basic skill in Real Estate Investment like in any other business – that of SELLING.
“Selling can and should be fun” says Zig Like I said already, Ziglar in Of all the strengths a CEO of the area is perfect his book with access to any company can have, the best Ziglar on conveniences like Selling. and most crucial is the ability to shopping malls etc – just what a new Of all the sell products or services of his home owner would strengths a company be looking for. The CEO of any suburb fetches high company rentals and therefore can have, this is what looked to me like an ideal the best and most crucial is the ability to choice for any investor. Yet I drive past sell products or services of his company. this block each every day and the place After all sales is the channel through is still deserted. In a city where many new which revenue comes to the company, usually get sold off long before they are and the basic goal of any business is to
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The Property Zone November 2011
rake in cash flow. I am reminded of a story I read by Robert Kiyosaki of the ‘rich dad’ fame. He once had an interviewed at a large TV station somewhere in Asia. Before they went on air the hostess took advantage of this meeting with such a successful business guru, (journalists have plenty of these opportunities) to seek wisdom on how she could improve the sales of her recently published book. Mr. Kiyosaki advised her to sign up for some classes in Sales. To his surprise she was greatly offended. Why would she, a post graduate and successful professional take classes in sales? You see, Sales is not one of the most revered professions or careers in the world – yet ironically it makes the most money. I’ve always remembered what Mr. Kiyosaki said to her – in fact pointing out why they were having the interview in the first place. “I am a best-selling author, not a best-writing one” he pointed out.
INVESTMENT
101 Food for thought don’t you agree? You may not come up with the best Property development, your housing unit may not be in the best neighborhood, the services to the area and the access may not be the most superior. But none of these factors will play as big a role as your ability to sell what you have. You must be the number one salesman of your business big or small. Here are a few pointers to polish up your sales ability. Be open minded Successful sales people tend to be the open-minded types who keep an objective view on life. You must be tolerant of people whose culture or background and beliefs may differ from your own. If all your friends are from your little village upcountry and share all your opinions, then there may be little chance that you will succeed. Good selling begins and ends with the following – Need Identification, Need Awareness, Need solution and Need satisfaction. Need Analysis This is rather self explanatory. Is there a need for more and better housing? In our economy this need is very obvious and easy to observe. The population figures of our country will indicate that this need will only increase with time. What kind of housing is required in the particular
area? What size, shape and number of houses? What kind of finishing is acceptable here? These are some of the question you will want to answer in the Need analysis. The reason for this is simple; it is much easier to sell a product people need than one you have to persuade them to accept. Keep the needs of the prospective buyer in mind and you will succeed every time. The Norwegian word from which sell is derived is selje, which means “to serve.” Look out for ways to be of ‘service’ to your clients and not just as a source of cash flow. In order for you to serve your prospects, you must clearly understand their needs before you can proceed. Whenever you meet with a prospect, look to understand his need before you offer any solution. (People only buy solutions
to their problems).And not all needs will be satisfied by your particular product. So don’t lose heart if a prospect’s need cannot be met by your product or service offering. He may be a great referral so treat him right anyhow. If for example you have a house for sale, the needs of the prospect will be defined by number and size of bedrooms required, where they need to commute, the number and age of family members, whether or not they keep pets etc. As you discuss the needs of the client, his wants will come to the surface too. As a sales person, target to meet the wants as well, sales is an emotional subject after all. Need Awareness You then need to make the prospect aware of his need. A newly-wed couple may not be too aware of the need for a
The Norwegian word from which sell is derived is selje, which means “to serve.” Look out for ways to be of ‘service’ to your clients
The Property Zone November 2011
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INVESTMENT
101
garden and play pen, but if they want the house long term, chances are good that recommending these is a matter of need awareness. A motorist may take a car in for oil change or engine tune-up only to be told that they brake pads need replacement too. The professional attendant will know to point out the condition of the tires and other parts that the owner may not have been aware of. The attendant (salesperson) did not cause these problems; he simply identified the problem and offered a solution, which is exactly what the professional does. We don’t create problems; we identify them and offer solutions through our goods and services. Need Solution Now more than ever before, sales are need based rather than product based. Regardless of the product or the service, the customer has needs and wants that must be met. If your product or service meets a need or desire, then you have a chance to make the sale. If no needs or desires are met, there will be no sale. Basically, people buy because they either need or want something. If we can give persons a reason for buying and an excuse for buying, the chances that they will buy and your sales numbers will improve rather dramatically.
Need Satisfaction Some of the highest selling products today are home computers, laptops, and cellular telephones. If you were to talk to a purchaser about their reason for buying, you are unlikely to hear the truth which is: - They want these high-tech products - Other family members and peers have the products These are the true reasons for buying but the excuse they will use for the purchase (sometimes one that is hardly affordable for them) are: - convenience and - communication improvement
Today’s successful salesperson is customerdesire driven and needs oriented Now, each “excuse” is legitimate, but the overwhelming factor in buying is “want to” rather than need to. The same is true of home buyers too. I once knew of an entire ‘village’ of bankers (from the same branch) who built their homes next to each other. It must have had something to do with one person wanting what the other has got.
People invariably will buy what they want, even above what they need. How many times have all of us seen families literally living in poverty and yet every family member is smoking, drinking soda, and watching TV? People certainly don’t buy things primarily because they need them; they buy because they want them. Strictly speaking, how many shirts do you need and how may shoes? How big a house do you really need? Clearly we don’t often buy based on need, we buy based on want. For those of us in the world of selling, our job is not to determine only needs (in the strictest sense of the definition of the word need) because people buy more than they need. We must be able to meet their wants as well. People often have no idea what their needs may be because they don’t know what is available. Fifty years ago we didn’t realize we needed airconditioning in our cars, computers in our homes, extensions on the telephone line, and a thousand and one other things. We have become aware of many needs and are now looking to satisfy them. As a sales professional, your job is to bring a much more enjoyable lifestyle to them, help them enjoy the ease of living, provide more effective and efficient operations, or offer significant savings through the use of your products. The basic question is not - Do you need a buy new house? The question is - Would you like to forget the landlord and make any renovations you chose because it is your house? A salesperson armed with integrity, a strong belief in the product, and the desire to get the product into the hands of as many people as possible is a powerful force with which to deal. And it is even more powerful when you add persuasion skills to the sales arsenal. If we can give people a reason for buying and an excuse for buying, more often than not they will buy.
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The Property Zone November 2011
Looking for a joint venture? Are you a land owner? We have investors willing to enter into a joint venture arrangement for development of apartments, townhouses and offices in up and middle class market. Talk to us Nawiri Properties
Talbot Court, Suite No. 2, Westlands Avenue P.O.BOX 51370, 00200 NAIROBI, CALL: 0722 351502, 0734 037 010 EMAIL:michael@propertyzonekenya.com
Beautiful 1/2 acre Plot for sale,
KAREN
Kshs 13 M
PLEASE CALL KATE THUO
+254 724 256804 +254 20 2493561/65
The Property Zone November 2011
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Halcyon Properties Limited Tel: 0723-775730/ 0732-727196/ 0750-798076
Apartments for Sale Brookside Drive Hatheru road City park
Ngong road Riverside Riverside
3 bedroom apartment to be sold with high class furniture. monthly income of 140k guaranteed
3 bedroom (2 en suite) 1800 sq ft with dsq. Swimming pool and ups connections included Executive 4 bedroom (Master en suite) apartments. Facilities include Dstv, intercom, solar heating. Conveniently located near mosque, school and hospital 3 bedroom 2250 sq ft all en suite plus dsq back generator & borehole 4 bedroom executive apartment 3600 sq ft all en suite swimming pool generator 2 bedroom 1300 sq ft all en suite
Town houses
Parklands Westlands Westlands Runda Riverside Lavington Muthaiga Muthaiga Westlands Sports Road
4 bedroom master en suite in gated compound of 12 town houses 3 bedroom duplex. Generator. Swimming pool. double car park. 4 bedroom master en suite dsq three in compound 4 bedroom all en suite dsq 3 bedroom duplex all en suite 2600sq feet 5 bedroom house situated next to jaffrey academy 3/4 acre 5 bedroom 0.9 acre hse dsq 5 bedroom in an 1 acre plot 4 bedroom masionette (3units)
Nyari Nyari
6 bedroom 9600 sq feet all en suite 4 servants quarter swimming pool gazebo 4 car park. On 0.70 acres 6 bedroom 9600 sq feet all en suite 4 servants quarter swiimming pool gazebo 4 car park.0.90 acres 6 bedroom mansion with 4 dsq swimming pool, tennis court on 1 acre
Lavington Riverside Riverside Westlands Parklands Parklands Parklands General Mathenge drive Kitusuru Kitusuru Mombasa - Nyali Lavington Githanga road
Ambassadorial Mansions
Plots
20m. 15m 16m 16m 24m 13m 25m 21m 25m 35m 17m 98m 120m 190m 25m each.
$1.5m $1.6m 130m
3/4 acre 2 acre 1/2 acre 1/2 acre 5th parklands (commercial) 1/2 acre 2nd parklands 1/2 acre 5th parklands 1/2 acre 2.4 acres 4 acres
90m 330m 120m 165m 200m 160m 140m 55m 100m
1 acre plot asking 1 acre
75m 188m
We also do long term leasing of furniture and all appliances.
low hanging
Fruit
Student Housing: A Great Niche In Real Estate Investment By Tina Muthoka
A
Easy pickings for the savvy investor
few months ago I happened to be in the city centre close to 9pm. As I drove out towards the University of Nairobi I panicked. I almost stopped. There was a huge mob of people walking towards me as I approached the University roundabout. (There has been an unfortunate history of fracas in this area and often there is the instinct to be cautious as one approaches the
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University.) I only drove on because other motorists seemed at ease and driving on. Then it hit me! These were evening students coming from class. There has been an astronomical rise in the number of colleges and students in them. Almost everyone you talk to in planning to or already pursuing some advanced studies in one area or another.
The Property Zone November 2011
Universities and other colleges have taken up much of the office space in the city. And all these students need a place to go home to, which represents a large opportunity for profit, for those of us in the Real estate industry. This high demand for student housing can only be expected to rise with the growing competition in the job market, and this
low hanging
Fruit
is the principal reason why we need to consider this opportunity. Universities are stretched to provide the other requirements for tuition and will usually not able to offer accommodation to all the students. From an investor’s point of view this is a very good thing. Another is that the Investment required will usually be lower than that for a regular rental unit. The vast majority of students are young and single. Single or even shared rooms with some basic furniture may be all you need and you have almost all-year-round tenancy. The market for student rentals tends to be
recession proof as a college education is never going out of style. Even for those who may opt to home school their children – as is the growing trend in the developed world, they still have t take them to regular colleges after the high school exams. In fact, during a recession, jobs get more competitive and people seek higher qualifications and thus the numbers in the colleges rise even further. Student housing has all the benefits you look for in an ideal investment. As already mentioned, the investment requirement is lower, the demand is high making this the ideal investment option. Dedicated halls of residence are very profitable hands-
off investments and highly suitable as property-based pension assets. Be sure to research the area well before making the investment. The closer you are to a college campus the more convenient to the targeted students and therefore the more rent you will be able to fetch. Be sure to get the approvals required before you proceed. You may opt to construct new buildings or refurbish already existing rental units. The income per square foot is sure to rise. The universities themselves are the best place to start looking for information because the accommodation office
There has been an astronomical rise in the number of colleges and students in them. Almost everyone you talk to in planning to or already pursuing some advanced studies in one area or another
The Property Zone November 2011
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low hanging
Fruit
should provide a potential investor with the information they need. They will have up to date statistics on the numbers of students seeking housing and may even be willing to offer background checks on the potential candidates.
management company) then have the right to ask for the money from their parents. You are well advised to hire a property management company to take care of the day-today operations of the rental property if owning a student housing rental property will mainly be a source of supplemental income for you.
The market for student rentals tends to be recession proof as a college education is never going out of style
The one downside to this is that College students tend to be much more transient, rents are harder to collect, and students tend to wear out properties much more quickly than renters past the party years. This means there will be need to screen the tenants carefully before they move in. Security can be increased by asking the students to place their parents as guarantors, they will be more likely to pay their rent on time and if they don’t, you (or your rental
The types of student accommodation to invest in: A property management company will take full control of the rental process and alleviate the time-consuming burdens of finding renters, performing maintenance, and even collecting rent.
Property management companies typically charge between 8 and 15 percent of the monthly rental price, depending on the services for which you are hiring them. While this may seem like a large expense, it might be well worth the cost if you are employed full-time or simply don’t have the time needed to properly a n d efficiently manage a property yourself. Before hiring a company, shop around for the best prices and ask for referrals or recommendations from current clients of the company. 24
The Property Zone November 2011
Private halls of residence These are purpose built, usually, cluster apartments with shared facilities such as kitchens and possibly bathrooms. En suite rooms are usually favoured by most students. These are the luxury end of student accommodation and normally house students with a higher budget such as post graduate or international students. Statistically overseas students have a higher accommodation spend during the course of their education .These are usually managed on-site, providing a hassle free investment. Converted residential houses Traditionally these comprise houses with 3 or more bedrooms that students will share. Bathrooms and kitchen facilities will be shared and this works out ideal for the middle class students. In order to remain competitive the investor will need to make the property more attractive to students to increase rental prices. For example provide internet access, well equipped kitchens and well furnished rooms. The property will increase the quality of student which will decrease the risk of damage to the property and its contents.
Talbot Court, Suite 1 Westlands Avenue Off David Osieli Road P.O. Box 51107-00100 Nairobi, Tel: +254 020 2445666 Mob: 0722 521 746, 0725 264 504 email: info@wayneskenya.co.ke TO LET - RIVERSIDE DRIVE
Features: • A four bedroom double storey house. Two bedrooms are en suite and the other two shares a bathroom • It has a sunken living room, separate dining room, pantry, and front patio overlooking a garden. • It has a background that houses an SQ which is en suite with a kitchenette. • A garage with space for two vehicles, additional parking for visitors within the compound. • It is situated in a compound of 8 houses with individual gates at the corner of Riverside drive and Ring road opposite Prime Bank. PRICE: 130k PM
ON SALE-MOMBASA
North Coast, Mombasa-Malindi rd Features: • 3 bedroom en suite • 1/4 acre plot • Servant quarters • Perimeter fence • Near Shanzu Teachers College • Near Serena beach & African Safari club • Clean title deed
ON SALE -NAKA ESTATE-NAKURU
Features: • Situated in Naka Estate five minutes drive from Nakuru town • 5 bedrooms, 4 en suite • Self contained staff quarters • Garage • High quality finishes, parquet floor, T&G ceiling, wall tiles in wet acres • Good landscaping • Scenic view of Lake Nakuru & Nakuru National park
Property Zone November 2011 Together we’ll get a goodTheshelter
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ASK OUR LEGAL
EXPERT
REAL ESTATE JOINT VENTURES: PROTECTING YOUR INTERESTS
O
n the other hand, the defendant complains that the plaintiff has no capacity to undertake a project of such magnitude and has failed to diligently execute the works as agreed. And so far no unit is complete nearly two years since mobilization. The time schedule given by the plaintiff has not at all been followed to date. It is also the case of the defendant that the materials and workmanship have not been to the standards given in the drawings and specifications agreed between the parties. It is further contended by the defendant that construction, sale and collection of part of the revenue for Section I (127) two bedroom units, 70 three bedroom units and 2 corner shops was to be complete by the end of December 2006. This was not done. In short, the applicant is being accused of inability to carry out and implement a project of such high magnitude (as per the Joint Venture
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The 2011 TheProperty PropertyZone ZoneNovember October 2011
Agreement)‌� (Warsame J in Santack Enterprises Limited v. Kenya Building Society Limited) Introduction Property ownership, whether solely or in concert with others, is a dream held by many. Such aspirations are a nick and notch higher today than probably at any other time in the past, thanks to the ever increasing value of Real Estate in Kenya. However, not everybody has the luxury of simply approaching a Real Estate agent and purchasing property or undertaking property development without the financial hassles or the myriad laws and regulations that stand in the way of property acquisition and development. Accordingly, persons aspiring to make successful Real Estate investments may consider entering into a Joint Venture (JV) to acquire property. Entering into a JV may
ASK OUR LEGAL
EXPERT
be the second best option to purchasing property as a sole proprietor. However, as noted from Justice Warsame’s comments in Santack Enterprises Limited v. Kenya Building Society Limited as reproduced above, JVs are not without problems. Proper advice, legal and otherwise ought to be sought and due diligence carried out prior to entering into a JV.
property owners. A norm in JV transactions is that they involve intercourse between providers of capital and providers of Real Estate or Real Estate services.
What is a Joint Venture (JV)?
1. The scope of the JV: Co-venturers must be able to, at the least, delineate the activities and objectives the JV intends to carry out and those which it ought to refrain from doing. Three business concerns ought to be addressed in this regard:-
A JV is an entity formed between two or more parties to undertake economic activity. In the Real Estate realm, JVs are a conduit for providing equity funding for property projects. Parties to a JV are usually referred to as Co-venturers or Venture Partners. JVs apply to an array of Real Estate transactions. These range from megadeals involving commercial properties, institutions, public trading companies, cross-border dealings to smaller transactions between local developers and
At the onset of a successful JV, Coventurers ought to ensure that all the pertinent issues, including the following are clear in their minds:-
a) The JV structure ought to provide Coventurers with appropriate risk adjusted returns if the business deal is successful; b) The JV structure ought to provide a mechanism for restructuring and salvaging the deal if things do not go as planned; c) Ensure that technical legal, tax and accounting matters do not have
unexpected adverse effects on the deal. 2. Existing and potential future conflicts between the Co-venturers need to be appreciated and addressed appropriately. This would facilitate agreement on such matters as non-compete issues and confidentiality obligations; 3. Issues of technology and intellectual property either to be transferred to the JV or to be granted by the Co-venturers; 4. Inter-corporate or individual arrangements that either will be required for the JV to operate or that are required to make the investment in the JV carry on the Business deal as envisaged by the Co-venturers;; 5. Due-diligence to be completed before the JV is effective so as to minimize or eliminate exposure to the Coventurers. What Form Does the JV take? Once Co-venturers decide to enter into a JV, there must be a formal agreement
The Property Zone November 2011
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ASK OUR LEGAL
EXPERT
to govern the relationship between the Co-venturers and the JV entity itself. The formal Agreement entered into is called a Joint Venture Agreement (JVA). It is the JVA that brings into existence the JV entity. The JVA further sets out the formal structure in which the JV will take. The structure of the JV may be in the following forms:i) A company or group of companies, jointly owned by the Co-venturers; ii) A partnership by the Co-venturers; and iii) A contractual relationship usually governed by contract (the JVA) under which the Co-venturers would retain their assets and agree as to their separate rights and obligations. Multiple issues come into play when deciding which JV vehicle to use. Some of these issues include legal and regulatory, tax, labour and employment, antitrust, benefits, consents and clearances to be obtained, exit strategies, banking and finance concerns, amongst others. Proper advice should be sought from competent and qualified professionals in the various fields to ensure that Coventurers’ interests are protected. How are the Interests of the Co-venturers in a JV to be protected? As noted, the JVA brings into existence the JV. The JVA is key in setting out the relationship between the Co-venturers. The JVA sets out the rights, liabilities, duties and obligations of each party in the JV. It is the JVA and its ancillary documents, comprehensively and properly drawn, that enshrine clauses
geared towards protection of the Coventurers’ and other parties’ interests. The JVA simply put, defines the ownership rights and obligations of each party to the contract. Hence, it would suffice to form and negotiate a JVA under which all parties to it are equally and effectively addressed. In this regard, the JVA will clearly state the Parties to the JVA. It will also delve into the issues of governance and management of the JV including the management board, meetings of Co-venturers, managers’/ directors’ and officers’ liability and insurance, audit process, reporting and access of information, actions requiring various consents, business plans and budget control and approval. The JVA also addresses the business to be undertaken by the JV. In this regard, the Co-venturers will ensure the following are addressed: the core business to be undertaken by the JV, distribution of profits or losses and the formula thereof, capitalization of profits, financing of the JV by Co-venturers, Third party financing e.g. from banks, support services to be provided, intellectual property or technology to be transferred, noncompete and nonsolicitation clauses, share transfer restrictions, pricings and valuations.
breaches the terms of the JVA. There should be a clear closing process so as to ensure that the rights and obligations under the JVA can be enforced. Other clauses would address: trigger events for termination and dissolution of the JVA, dispute resolution mechanisms and applicable laws and post termination covenants amongst other terms. It is therefore important to seek legal advice on these and related matters to ensure that one’s interests are protected. Real Estate Joint Ventures may be structured in different forms. From experience, it is evident that a carefully structured legal framework definitely aids the Co-venturers work together on the basis of mutual trust, minimizes risk and exposure, and most importantly it plays a crucial role in the success of the Joint Venture. Clear provisions governing the potential risks and conflict also promotes effective and timely decision making, reduces uncertainty and helps prevent protracted delays in the functionality of the Joint Venture.
The JVA should also be clear on what happens if a party is in default or
DISCLAIMER This article is not a substitute to obtaining Legal Advice and is not intended to constitute any form of legal advice to any party on any issue. No reliance whatsoever should therefore be placed solely on any of the contents of this Article in undertaking any transaction and the authors of the Article neither assume nor accept any responsibility whatsoever for such reliance. Readers should take specific advice from a qualified professional when dealing with specific situations. CONTACT DETAILS Njoroge Regeru & Company Advocates Arbor House, Arboretum Drive P.O. Box 46971 – 00100, Nairobi, Kenya Tel: (254) (020) 2718482/3/4, Cell: 0722 206 884, 0733 608 141 Email: info@njorogeregeru.com, Website: www.njorogeregeru.com
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The Property Zone November 2011
Sale 7.5m
Nawiri Properties, Talbot Court, Suite No. 2, Westlands Avenue, P.O.BOX 51370, 00200 NAIROBI CONTACT: 0714 274 954, 0734 037 010, EMAIL:nawiri@propertyzonekenya.com
DIANI BEACH, MOMBASA, KENYA
EXCELLENT VILLAS FOR SALE IN DIANI BEACH
VALLEY VIEW ESTATE MLOLONGO This Property features spacious Lounge cum dinning, common Cloakroom, elegant master en suite, two additional bedrooms with in built wardrobes and a kitchen with in built cupboards and storage shelves, opening to a laundry yard Estate Features: • 3 bedroom bungalows • plots size Approx 20x8.5m • Pre-school • Private gardens • Ample parking • External perimeter wall • Sewer line • Street lighting • Storm water drainage Nawiri Properties, • Water supply Talbot Court, Suite No. 2, Westlands Avenue, • Cabro paved roads P.O.BOX 51370, 00200 NAIROBI CONTACT: 0714 274 954, 0734 037 010, • Shopping Centre EMAIL:nawiri@propertyzonekenya.com
property
The
Everything real estate
zone
Two recently built fully furnished houses on 1/4 acre compound on beach two area, between Southern Palm Hotels and Indian Ocean Hotel. Main house is living room, dining room, small sitting place in the tower with wounderful view of the ocean, four bedrooms, two rooms are en-suite, two bedrooms are normal size, two are really big. Master bedroom has a big walk-in wardrobe. Other features:
Property Zone Subscribers, please let us know of any changes in your address before the 25th of the month to effect the change in the subsequent month’s delivery of your favourite Real Estate Magazine.
aluminium sliding windows, galana floors, with iron sheet roofing. Smaller house (guest house) is living room, kitchen, three bedrooms all en-suite, plus a guest toilet, balcony. Other features: aluminium sliding doors, tiled floors, roof is fireproof materials. Water facilities include: borehole, plus water tank of 5,000 litres on top and 30,000 litres underground clean tiled tank for fresh water. Price includes all appliances: plasma TVs, dishwasher, washing machines, cookers, fridges, back-up electricity generator. Compound enjoys: fruit trees like banana, passion. Carport for 2 cars, laundry, doghouse, servant quarter two bedrooms. Swimming pool: 12*4 meters, deep side 2,4 meters Neighborhood is quiet, 5 minutes walking distance to beach (reserved access).
E: C I R P
The Property Zone November 2011
32M 29
Nai’posha Holiday Homes
These homes are the latest holiday ho Naivasha along South Lake Road. Th tial development for people who desi home away from home. The homes a community by leading architects, eng specialists to give the homes a cut abo
This project will consist of 3 bearing log home elements. either 3 or 4 bedrooms hous envious and quiet, in other w area in Naivasha. The hom
Landsca Live fen Free sta Natural Water p 8 ICT Re Gate ho High tec
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The Property Zone November 2011
omes situated at the terraces of Lake his project delivers the finest residenire a holiday home or an exotic beauty are developed as an up-market gated gineers, space designers and landscape ove the very best.
Gate View Recreation Center
3 holiday home architectural designs . The choices for the 3 designs are ses. The tranquil surrounding is very words it is a privileged and secure
mes feature:-
aped gardens, nce, anding electricity fence, stone paving, power eticulation, ouse & guard posts, ch sewage treatment.
Commercial Center
The Property Zone November 2011
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REALTOR ZONE
Wisdom to Tenants Landlord woes and how to avoid them
I
n the September issue of THE PROPERTY ZONE we discussed the signs of a bad tenant. This is not to say tenancy strife only emanates from tenants. There are landlords whom you wouldn’t wish on your worst enemy. So this month we flip the coin and talk about how to tell a bad landlord before you sign on the dotted line. Bad Landlords tend to fall in to two categories; those that just won’t leave you alone to enjoy living in their property and those whose idea of dealing with a problem is to ignore it and hope that
it will go away. Either type can make life pretty uncomfortable for a tenant but the law does provide a certain degree of protection in both instances. Here is what constitutes bad landlord: Won’t put it in writing If the landlord is hesitant to do a proper lease agreement; that is a sure sign of trouble. Unless the obligations of each party are clearly spelled out in a lease agreement then you are obviously
It is always advisable to rent your property through a professional letting agency
TO LET 32
The Property Zone November 2011
REALTOR ZONE
exposed. You will either be asked to leave on a moment’s notice, the rent will increase without notice, the maintenance will not be one – there are all sorts of issues that need to be agreed upon and put down in writing. We recommend using a good lawyer to do this; the cost is well worth it.
Let us shift our focus on how a tenant can protect himself. Interview the landlord Remember we had advised landlords to interviewing the prospective tenant. Well,
the same is applicable for the landlord. Talk to the landlord about the history of the property, the rate of crime in the area, the landlord’s policy on maintenance, and anything else you’d like to know about the home you are planning to lease. How a landlord responds to reasonable
Won’t carry out any repairs While it is quite obvious that a tenant is liable to replace any broken fittings, there are certain maintenance jobs that remain the obligation of the landlord. These have to do with the structure of the building and arrangements for sanitation. A good example would be a leaking roof or tank. They do not cover decorative items or damage caused by the tenant. The tenant has a duty to act in a tenant like manner so for example if a tenant were to accidentally break a window at the property this would be down to his carelessness and he would be responsible for the repair. But even for those repairs that should be undertaken by the landlords a reasonable time should be allowed for this. Shows up whenever and with no notice While every tenant must give the Landlord, or his representative, reasonable access to the property to inspect, this needs to be done during reasonable hours and at agreed intervals. The Landlord is also entitled to carry out a general inspection of the property from time to time so long as he gives you reasonable notice, this would normally be at least 24 hours. This should not affect your right to live peacefully in the accommodation without intrusion from your landlord. The Landlord should never use his keys to enter the property without There are certain the tenants’ knowledge or maintenance jobs that permission, other than in remain the obligation of cases of genuine the landlord emergency. This is by no means a conclusive list of landlord errs.
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REALTOR ZONE
While every tenant must give the Landlord, or his representative, reasonable access to the property to inspect, this needs to be done during reasonable hours and at agreed intervals questions about the property may give you clues as to how he or she will behave once you’re in a contract. If the landlord behaves defensively, or refuses to answer any questions, consider this a major red flag. Get it all in writing The first and most obvious is to get a written lease agreement and make sure to read it carefully before signing. Many of the non-legal people will hardly read through the fine print. Please take the time to do so especially if the lease is prepared by the landlord’s lawyer. It is advisable to have your own lawyer look through it to safeguard your interests. The duration of the lease, the rent payable and when it is to be revised, the obligations of either party, exit clauses are all details that must be cover clearly in a good lease agreement. Withhold Rent In incidences of neglected repairs, many tenants will threaten to use their rental payments as a lever to speed up their Landlord’s response time. This isn’t a great idea as there is no legal basis for this. Wedo advice coming up with an
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agreed period when the tenant could undertake the repairs and recover the costs from subsequent rent. This should be done amicably. Don’t be afraid to walk out of a lease negotiation if you feel pressured or harassed. Don’t get onto a lease under any kind of pressure. While you may genuinely need to move into the property in a hurry, don’t allow yourself to be taken advantage of. It the place needs a new coat of paint don’t accept promises that it will be done after you move in, it rarely does. Ask as many questions as you need to, if you need to consult, do so. If anything is uncertain, investigate. Do an initial inspection with the landlord Before you move in, your landlord should accompany you through your initial inspection of the property. Make out an inventory sheet which you should keep safely until t he end to the lease no matter how long this may be.
The Property Zone November 2011
Make sure he agrees to do so at the lease signing. Your landlord should be there to witness as you personally document all of the flaws you see in the home. This will protect you from having to replace what wasn’t there to begin with. As exhausting as this sounds, counting taps and drawer handles, don’t neglect this very important step of the lease process. Document every conceivable flaw that you could be held responsible for later. Whatever you do, don’t take your landlord’s word for it (unless it’s in writing and you have a signed copy) that you won’t be held responsible for something. Take photographs before and after In this age of technology there is no need to leave anything in doubt. Photograph everything. You should take photographs of the dwelling and its condition at movein time. You could send soft copies of the same to the landlord so there is a date to them. These photographs should match the descriptions on your move-in inventory form; and will safeguard you from being held unfairly responsible. In summary if you can, rent your property through a professional letting agency and if that agency also manages it on behalf of the Landlord that is generally the ideal set up. An agency that manages a significant amount of properties is likely to have a person dedicated to sorting out problems reported by tenants and will also have built up a network of reliable professionals that they can call upon.
Nawiri Properties, Talbot Court, Suite No. 2, Westlands Avenue, P.O.BOX 51370, 00200 NAIROBI CONTACT: 0714 274 954, 0734 037 010, EMAIL:nawiri@propertyzonekenya.com
Menelik Apartments FOR SALE 16M
Two Bedroom Apartments Near Yaya centre *Completion December 2012
Kilimani- Kindaruma rd FOR SALE 18M
3 bedroom apartment with DSQ
Upperhill - 3 bedroom apartment wth DSQ
FOR SALE 22M
The Property Zone November 2011
35
EXPERT
ZONE
PLOT OF SALE
BEFORE
Real Estate Marketing How to create high-impact adverts
By PZ WRITER
T
here is no arguing the fact that some adverts sell better than others and this has little to do with the product itself that is for sale. If we are to be successful in marketing of Real Estate it is imperative we take a crash course on what to say in an advert to make it sell our product – be it a plot of land or a complete building. As a general rule please remember to keep it simple. After all the aim is not to impress our reader with our eloquence but to invite offers for the Property.
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They had a skimpily dressed lady on a huge photo whose skirt; it was promised would rise a little each day. Remember that the buyer higher Now many people finally buys to fulfill their questioned the 1. It gets the attention of the prospect. Even the ethics of this need and not to meet most glowing description advert – I certainly your target or boost your did not approve of will not do any good if the prospective renter or it myself, but one revenue base. Let the buyer does notice it. The comment stayed advert ‘answer’ the need with me – it fulfilled first thing to do therefore is to make sure we the advertiser’s of the prospect. get the attention of the dream – to get our prospect. I am reminded attention. of a popular radio station in Kenya that put up bill boards to announce their launch. Everybody became aware of the new radio station that was coming up – which A Successful advert is the one that gets the following three aspects right:
The Property Zone November 2011
EXPERT ZONE
CREATE YOUR DREAM HOME
AFTER
had nothing to do with the picture, I might add. Whatever you do, begin by getting the attention of the prospect. Ways of doing this include the selection of attractive colours, the use of memorable phrases and taglines as well as the logo which grows in the mind of the reader, representing a certain expectation.
response rate for the obvious reason that the readers are in your target market. Now to the specifics of the content of a successful advert: The Power of a Great Headline Any great marketing material will have a great headline. It is the headline that catches the attention. Newspaper headlines make the basic difference in whether or not the paper will sell and this is a fact that the journalist know well.
2. The advert says the right things to generate interest, prompt responses and move the prospect closer to the buying decision. Remember that the buyer finally buys to fulfill their need and not to meet your target or boost your Keep in mind revenue base. Let the advert ‘answer’ the need of the prospect. that 80% of
readers read
‘Unbelievable offer’ is much more likely to attract readership that something basic like ‘house for sale’. Keep in mind that 80% of readers read nothing but the headline.
3. Place the advert in the right publications that reach your target nothing but the prospects. It is important to gather headline the facts about who is the target readership of the publication in which we intend to post an advert. Specialized Whether it is a published advert or publications have a much higher something on the internet there is such an
overflow of information available that not too much of it gets read in its entirely. Secondly without a catchy headline the other details are unlikely to be read at all. Here is a catchy example I once read somewhere: My Pain Is YOUR Gain!!! 3 bed home close to schools in a clean, quiet family neighbourhood. Move in tomorrow and steal this home now. Now how is that for an advert – you may not eventually buy the property, but I am sure this will get you to want more detail. Details on the advert With a good and catchy headline done, the next step will be to give some detail. Be sure to appeal to the emotion. Majority of sales are not based on logic but on emotion. You probably did not buy your car because it was the best or fastest or most economical, you probably based the decision on how you felt when you were in it.
The Property Zone November 2011
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EXPERT
ZONE
FOR SALE, INCREDIBLE OFFER. BOOK NOW TO AVOID DISAPPOINTMENT.
Be sure to let readers imagine what it would be like to live in the home you are selling. Don’t state the facts, like large backyard – instead say something about the possibility of having barbeques in the large garden at the back. This draws a picture in the mind of the reader and Be sure to appeal creates a longing for to the emotion. the home thus Majority of sales are – shifting the not based on facts sale into an and logic but on e m o t i o n a l experience.
emotion
Keep it short. Adverts are costly business and you will want to keep the details to the minimal. Remember you are not trying to make a sale, but to invite interest. It is from this interest that you will show the property and eventually make the sale. Too much information may also lead to the reader getting distracted and missing the key points altogether. Fact – benefit selling. As mentioned already sales are not made based on facts. Sure you must state the facts, but they will not do much good unless you state the benefits from these
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facts. Large kitchen, double garage, air conditioning, internet ready - All these are bare facts. This doesn’t tell the buyer what benefit is in them. Rather than say three car garage, you could say enough space to out the children’s bikes. This is likely to answer to a need the prospect may have. Call for action As humans we don’t like to think and prefer to be told what to do. It is not good enough to tell me all this great things about the property. What distinguishes. great marketers from good marketers is the ability to build a sense of urgency and to prompt prospects to take immediate action. Every time you create an advert, give readers a reason to take action and instructions on how to take the next step. End the advert with something like ‘call today for viewing’, or ‘call the number below for a free evaluation of credit’, ‘few units remaining – call for viewing now’ etc. Avoid Jargon We already stated the need to use everyday language that will be understood by all who read it. Please avoid jargon. I
The Property Zone November 2011
am sure you have seen adverts that say something like 3br 2dsq. My reasoning is simple. If a prospect does not understand these abbreviations, they are unlikely to call as they do not want to appear uninformed. You are much better off just stating the 3 bedrooms and 2 Domestic servants quarters in full to avoid confusion. Be truthful In marketing there is always the temptation to say what the prospects want to hear rather than the facts on the ground. There is absolutely no benefit in over-promising and under-delivering as this will only leave you with unhappy clients at best and even some lawsuits in extreme cases. It is understandable that there you will want to sell or rent the property as soon as possible and for the best possible price but you will not attaint this by telling anything other than the truth. Use images This is so important we have left it for last. A picture says a thousand words. You know this already so use it to your advantage. In this age of technology it is not difficult to take a good picture of the property for sale, this makes all the difference. It is the image rather than the glowing description that will first get the attention of the reader.
Talbot Court Suite No. 2, Westlands Avenue P.O.BOX 51370, 00200 NAIROBI CALL: 0714 274 954, 0734 037 010 EMAIL: nawiri@propertyzonekenya.com
LAND FOR SALE, masai mara The land is located at the Esoit Oloololo (Siria) escarpment Masai Mara Across it straddles the great Mara plains teeming with wildlife and the 7th wonder of the world (the wilderbeest migration) The land is flat on the escarpment perfect for small plane airstrip. It is 464 acres with an option for sub-division ideal for a developer with a vision of a Resort, Hotel, Lodge, Villas and Campsite etc.
Price on enquiry The Property Zone November 2011
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For SALE
Nawiri Properties Talbot Court, Suite No. 2, Westlands Avenue P.O.BOX 51370, 00200 NAIROBI, Tel: 0714 274 954 EMAIL: nawiri@propertyzonekenya.com
EDENVILLE
Price17M 4 BEDROOM VILLA Located in a gated community off Kiambu road with recreation areas, shop and community centre featuring: • 4 spacious bedrooms • Large lounge with fireplace • Dining room opening to garden terrace • a spacious kitchen • Master en suite • Ample parking • DSQ • Sub-lease 99 years from 2010
Completion Dec 2011 APARTMENT RIVERSIDE DRIVE
Price 18M
An attractive Four bedroom apartment with DSQ 3 en suite, on 4th floor, 3 parking slots, very secure neighbourhood
Buruburu Phase 1
4 Bedroom Maisonette Master en suite 2 Servant quaters with a monthly rental income of 50k
Price 8.5 million 40 40
The Property Property Zone Zone October November 2011 The 2011
South C Highway Estate
4 bedroom maisonette master en suite
Price 14M
Kitengela – Near Ostrich farm
3 bedroomed Bungalow 50 meters off Namanga Rd – Master en suite on ½ acre plot in a gated community. Separate lounge and dining. Open Kitchen plan (American style). Very good finishes. Well manicured garden. Separate servants quarters for two.
Price 11M
Nyahururu near Kasuku trading Centre 1.5km off tarmac
5 acres fertile land, price 200k per acre
Talbot Court, Suite No. 2 Westlands Avenue ,P.O.BOX 51370, 00200 NAIROBI, CALL: 0714 274 954, 0734 037 010 nawiri@propertyzonekenya.com
In our next issue (next month) • Legal Advice on Subdividing or Partitioning of Land • Do-it-yourself Décor - Tips on Choosing furniture • Online marketing for Real Estate
Plus all your regular columns – Builders Zone, Realtor Zone, Stylish Living, ...... Get your copy at the beginning of the month
The Property Zone November 2011
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INSPIRATION
Lessons from my teacher There is great value in connecting with the people we work and interact with
Who we become is due to a large extent on to the teacher who touched our lives
By Christine Mweteeli
W
e all have distinct memories of our high school principals. A few may not be pleasant but most of us remember our high school head teaches with some level of reverence. Teachers have that special role that allows them to make a lasting impact on the young lives they touch. A few months ago I attended the funeral of my high school principal - a lovable old nun who had given her whole adult life to the education of girls thousands of miles away from her native country. The place was crowded, which could only be expected because of the special person we bade farewell. Busloads of students were there.
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The Property Zone November 2011
Prominent members of the society, many of whom we didn’t even now had been in our school. And everyone had fond memories of this lovely lady who had such influence on our lives. For me it was almost a school reunion. I met old friends I had not seen since high school. There were a whole lot of mixed emotions. We were exited to reunite. We were grieved by the departure. But one thing in common for all of us was the realization of what a loss this was for all of humanity. I am sure everyone hoped they had grown up to be worthy of our teacher’s legacy. I am not sure they make them like this anymore; teachers whose authority was unquestionable - administrators who never had to raise their voices; leaders whose influence stretched way beyond their presence.
INSPIRATION
As a tribute to this teacher, and to all the teachers who have touched my life, I will share the lessons I learnt and which I hope I can live up to.
Develop a personal connection with every person It is amazing how my teacher was able to know every single student by name and detail. Years after I had left the school, I
chatting a few minutes I walked on but was awed by the great memory she must have. How many students had she met since I left; how may before me? How did she know everyone’s name? What kind of a memory must she have? There is great value in connecting with the people we work and interact with. If a colleague or employee has had a sick child or an ailing mum or if someone has had a birthday or anniversary; it touches them to no end if we remember. What this did for us in school is we were careful not to break any rule – not so much for fear of punishment, but because we didn’t want to offend our teacher.
We were careful not to break any rule – not so much for fear of punishment, but because we didn’t want to offend our teacher met her in the streets of Nairobi. She remembered that she had received a questionnaire to give a reference for me. How did it go, she wanted to know, was I still at that job? Did I complete m y college? A f t e r
Always clean up after yourself Anyone from my school will remember this one; there is no dishonor in manual work. Don’t expect people to pick up after you. Keep your environment clean at all times. No one is too important to do a little work, pick up their own cup of tea, and there is to joy like working together. we never bond better than when we work together. In this country, think this is one lesson we all need a dose of.
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INSPIRATION
Always be punctual This is another one we would all do well to remember. Our society suffers an almost epidemic level of tardiness. From meetings to job interviews, to social events, it is almost expected that a Kenyan will be late. Yet every successful person will agree that time is a scarce resource that none of us can afford to waste. And most of the time when we are late it is due to bad habits and not the traffic, the rain or the earlier meeting that we use as an excuse. A reputation for always being on time is enough to put us above the competition in many respects. There is really no such a thing as Kenyan time. Good grooming is a virtue There is never an excuse to look less than our best. There is never a second chance to make a first impression. Be prepared.
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Look your best at all times. This is not to be confused with wearing expensive clothing. Even when the budget does not allow as smart a wardrobe as we would like, the effort to be presentable and well groomed never goes unnoticed. The value of recreation My ex-schoolmates must be smiling at this one. Every day after study time in the evening we had 15 minutes known as recreation time. Anything was allowed then – to let off steam before we went to bed. This is where ‘all work and no play . . .’ became the rule. We shouted at the top of our voices, we sang, we chatted, a few studious ones kept right on reading, but for most of us ‘regulars’ – this was the time to be seen and heard. I am sure you can tell - this was my favourite time of any day. Lesson here - It always helps to take some
The Property Zone November 2011
time off work, not matter how busy we are, to relax and engage in refreshing activities to re-energize. Our friendships and family relationships will become so much better when we do so.
Be focused; give energy to what is important Keep the main thing the main thing. I am sure your teachers told you this too. We sometimes give too much attention to things which aren’t as important in the grand scheme of things. It is okay that your circumstances aren’t perfect today. There will be a better day. Don’t let the imperfection of this day derail you from the pursuit of a better tomorrow. We all have picked up lifetime lessons from the teachers who have shaped our character. Let’s do our best to make them proud.
book CONTACT: 0722 240 785, 0736 522 375 EMAIL: jwlnairobi@gmail.com
michael@propertyzonekenya.com
address
Talbot Court, Suite No. 2 Westlands Avenue P.O.BOX 51370, 00200 NAIROBI CALL: 0722 351502, 0734 037 010
Maestro Properties Limited Real Estate Consultants
Maendeleo Hse Monrovia St. 8th Flr P.O Box 5479-00506, NAIROBI Tel: 20 312816/210117 Fax: 20 221419 Mobile 0724434542/0721330066 Email: info@maestro.co.ke
“Seal of unbroken Promise”
Balcon Housing Company Ltd. 1st Floor Winma House. Githurai 45 Post Bank Thika Road.Tel. 0733 802 665 / 0733 439 519 0728 121 939 / 020 807 1841 / 020 871 2552 P. O. Box 532 – 00600 NAIROBI
BRANCH OFFICE: 2nd Floor, Mercantile Hse Koinange Street
Halcyon Properties Limited Tel: 0723-775730/ 0732-727196 0750-798076
GCL TILE MASTERS
GANAPATI CERAMIC LTD Security door, Ceilings and other related Products at very competitive prices Ex. Nairobi price inclusive of V.A.T
United Complex, Shop No.3 Mombasa Rd Opp. CraterAutomobiles Before Airtel ( Formerly ZAIN) , Tel: 0733 698925/ 020202168709 Email: anshulanvi@yahoo.com
PROPERTY ZONE CLASSIFIELD South C 3 bedroom Master En suite maisonette Kshs. 12m Nairobi West 3 bedroom maisonette Kshs. 12m Laving ton 4 bedroom with DSQ on half acre Kshs. 75m Garden Estate half acre Kshs. 16m
Contacts : 0722 899 288 , 0733 233 995
The Property Zone November 2011
45
LAND/PLOTS FOR SALE kitengela shopping centre 4 acres 1.5 km off Namanga road ideal for redevelopment or sub-division
Price 6M per acre
valley arcade 1 acre near the Shopping Centre off Gitanga road ideal for redevelopment
Price 180M mombasa road
runda-mumwe
Mtwapa- KILIFI
syokimau
5 acres touching tarmac near Small World
1.5 acres
3/4 acres on second row from Creek
5 acres 5 km off Mombasa road ideal for redevelopment
Price 10M per acre
Price 45M
Price 18M
Price 55M
syokimau
meru
ATHI RIVER TOWNSHIP
parklands
5 acres 1.5km off Mombasa road ideal for redevelopment
0.5 acres touching tarmac and river, 8km from Meru town location called Charia Location
Behind Tuskys supermarket 5 acres industrial
1/2 acre Off Limuru road city park estate
Price 90m
Price 2M
11m per acre
Price 90M
westlands
KAREN
uthiru
syokimau
Along General Mathenge Road 0.5 acres
25 acres near KCB training college
Opposite Uthiru junction, 100 x100 plots
1/8 commercial plot at Kangaroo shopping Centre
Price 150M
Price on enquiry
Price 5M
Price 2.7M
WAIYAKI WAY
Mtwapa creek
uthiru
kitengela
3/4 of an acre after ABC Place
9 acres after Shimo La Tewa Prisons
Behind Uthiru Girls High School, 1/2 acres
5 acres 3km from Yukos off Namanga road
Price 130M
Price on application
Price 8.5M
Price 5.5M per acre
Talbot Court, Suite No. 2, Westlands Avenue P.O.BOX 51370, 00200 NAIROBI CALL: 0714 274 954, 0734 037 010 EMAIL: nawiri@propertyzonekenya.com 46
The Property Zone November 2011
The Property Zone November 2011
47
Titan Building, Ground flr, Chaka Rd off Argwings Kodhek Rd, Hurlingham P. O Box 46146-00100, Nrb, Ke (t) 020-260 4283/4 (c) 0722 272 193, 0723 302 462 (e) sales@decorpebbles.co.ke
We complete what you start
Visit our showroom at:
For: •Basket Lights •Recess Lights •Ceiling Lights •Wall •Gate/2011 Garden Lights •Floor Lamps •Chandeliers 48 TheBrackets Property Zone November