A listing agreement is a contract between a seller/property owner and a real estate agent. It allows the agent permission to sell property on behalf of a seller on agreed terms and commission. The Types of Listing Real Estate Agency Agreements: Exclusive Listing Agreements and Non-exclusive Listing Agreements.
Commercial property can be one of the most lucrative investments in real estate as it offers investors the ability to acquire more clients while growing their business interests. However, it is crucial to keep in mind that the dynamics of investing in commercial property differ from that of residential property since its more complex and involves more risk.
When the deal is too good, think twice! Information is power, and when it comes to buying property off-plan having the right type of information will help you, a prospective buyer or investor, make an informed decision on whether to invest or not. Buying property off-plan simply refers to purchasing property before construction is commenced or completed. Developers use pre-construction layouts, site developmental plan and building plans to market and sell their properties (apartments, villas, bungalows, townhouses) to prospective home buyers and real estate investors.
The Finance Act No. 22 of 2022 amended the Income Tax Act by increasing the rate of Capital Gain Tax (CGT) from the rate of 5% to 15%, effective from 1st January 2023. What is Capital Gains Tax (CGT)? CGT is a tax imposed on the gains which accrue on transfer of property situated in Kenya, on or after 1st January 2015 whether or not the property was acquired before 1st January 2015. A transfer of...
Introduction Conflicts between tenants and landlords are inevitable. The disagreement many times raises issues that more often than not find themselves before seats of justice. In particular, the tenancies that are not controlled. Where then can such conflicts, if and when they arise, be taken to a court of the first instance? That is the single most important question that this paper will delve right...
As a real estate investor, having a rental property is considered a great investment. However, managing the rental property as an individual has numerous challenges that are likely to undermine the value of owning such a property.
Kenyans living abroad account for a significant portion of investment in the Kenyan real estate industry. Real estate is often preferred to other investment classes due to its superior returns and the stability it offers.
The High Court of Kenya recently issued judgement on a case on Value Added Tax (VAT) and held that one cannot separate land and the commercial buildings on it, thus maintaining that VAT is chargeable at 16% on the total value of the property.
On our previous article we had shared some few pointers when buying an apartment this time we focus on the seller and what efforts he is supposed to undertake so that he can secure a credible buyer.
The purchase of land or property is major decision and therefore, all aspects that have a financial implication should be properly evaluated. It is important for the buyer to take into consideration all the tax implications in order to avoid instances of incompliance. The purchaser is required to pay stamp duty on the acquisition of a property. The stamp duty is calculated at the rate of 4% of the property...
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