TOP Property AGENT Uganda

09/04/2022

Property Alert
5 units newly built
Location: Bunga Hill
Space : 1bedroom,kitchen
Rent : 1.2m
contact: 0779601629

23/12/2021

26/07/2021

There is so much more to your property other than just a building 🏣🏘️...

22/06/2021

LANDLORDS HERE IS SOMETHING FOR YOU

1. TREAT YOUR RENTAL PROPERTY LIKE A BUSINESS

Managing your rental property may not be your primary job, but it is still a business and a source of extra income. It’s important to remain professional with your tenants, keep your finances intact, and perform a thorough tenant screening prior to renter move in.

In order to conduct good business, you need to comply with ugandan, and local council laws. It’s important to make sure your business follows all necessary laws in order to maintain a positive reputation and avoid potential legal problems. Real estate and rental investments often come with regulations, so be sure to take the time to conduct research and understand all specific laws before plunging in.

It’s also important to protect yourself from potential accidents or liability claims: one way to do so is by purchasing landlord insurance. If an unfortunate situation arises, like a pipe bursts or theft occurs, landlord insurance can protect you from bearing the loss. This means you won’t have to pay thousands of shillings if a tenant should sue you.

Conducting good business also means preventing problems before they happen. The best way to avoid problems is to keep your unit and building in good condition with.

Before renting to tenants, double check that your rental property is a safe place to live. It’s worthwhile to spend money to make sure everything is up-to-code and all utilities work. For example:

Make sure all vents are free of buildup (debris, moisture, etc.) Check internal and external pipes for combustion

Once you have tenants living in your unit, you should have a plan as to how you will fix dangerous problems immediately. For example, how will you fix the plumbing if it breaks, or help a tenant who locks them self out? The best way to prepare for problems like these is to have a plumber, locksmith, and contractor on call.

Being professional, keeping your finances in mind, following your city laws, protecting yourself from liability, and preventing tenant problems are the best ways to manage a good rental property business.
2. FIND TENANTS ONLINE

The majority of tenants search online for their next apartment, which means the most effective way to find tenants is to join different home improvement groups on facebook i.e Fabulous & Beautiful Homes and our page TOP Property AGENT Uganda etc. Promote your listing.

The key to finding tenants is to create an online rental listing that tells tenants what they want to know about your rental property. They’ll want to know the rent price, the address, number of bedrooms and bathrooms, amenities, and nearby attractions—the more informative the listing, the better. It’s also a good idea to upload clear photos of every room and common space, as tenants will likely be more interested if they can easily visualize the space.

An appealing rental listing that highlights your best features and announces your requirements is the best way to attract quality tenants who will pay rent on time and take care of your property.

3. CONSIDER HIRING A PROPERTY MANAGER

Hiring a property manager can be a worthwhile investment if you’re looking to save on the time and hassle involved in owning a rental property, such as marketing your property, colleting rent payments, and dealing with tenant issues. A good property manager can also help manage multiple rental properties if you find yourself overwhelmed with landlord responsibilities.

Hiring a property manager is a great avenue to explore if you don’t live near your property or don’t want to fully commit to the hands-on role of managing the rental. By putting the responsibility of owning a rental home on a third party, you’ll have peace-of-mind that your property is being maintained in a professional and timely matter.

Keep in mind, you’re legally responsible for maintaining a habitable space for your residents, so if you don’t have the time or resources to dedicate to this important task, it may be time to consider hiring help. Whether your property’s roof is in need of some TLC, or the walls need to be repainted, a property manager may have to take on a great deal of responsibility, or hire the right person to do so.

If you can afford the expense, a property manager can help to streamline your landlord duties and facilitate a more hassle-free rental process. Similar to the procedure for finding the right tenant, make sure that you properly screen potential property managers. . Don’t forget to ask for local references and interview multiple people before settling on any final candidates.

4. SET THE RIGHT RENT PRICE

This is a very big challenge here in Uganda for losts of properties are over priced hence living them empty BUT lets see what we have
To set the right rent price, we recommend researching your market to learn what the fair market rent price is in your area. Pricing your rental at the rent price that makes sense in your location can mean the difference between vacancies and attracting good tenants so you can rent your property quickly.

As you set your rent price, you should keep in mind how it affects your financials. After all, rent payments are your main source of income on your rental property. To compare your rental income to your rental expenses, you should list your fixed and estimated expenses. Fixed expenses are your mortgage payment, property taxes, insurance fee. Your variable expenses are utilities, repairs, and property improvements. By comparing income to expenses, it’s easier to see how rent price affects your monthly revenue.

There’s no point in setting the right rent price if you have tenants who don’t pay on time, which is why the next tip is critical.

5. CREATE AND FOLLOW A TENANT SCREENING PROCESS

The main goal of tenant screening is to help find quality tenants who will pay rent on time and take care of your property as if it were their own. To select responsible tenants, it’s important to filter out good potential tenants from the mountain of applications you might receive.
Ask for things like former utility bills, rental receipts and insurance payments etc.
You should look for a tenant who can pay in full each month, doesn’t have a criminal history, and has a good rental background.

For more consultant on Property Management
call +256779601629.

16/06/2021

Successful property managers do not procrastinate

Successful property managers get things done, when they need to be done. At the same time, they’re savvy and experienced enough to know which parts of their job take priority over others. If you’re going into the industry, it’s important to have good work habits.

20/05/2021

We thought we would share this with you our beloved followers and clients.

LAND MISTAKES TO AVOID (PART 3)
Written By aka

When you have been in a certain field for some time, you’ll be surprised at some of the avoidable mistakes that other people commonly commit on matters that seem obvious to you. For those who have followed my writings, I have been exposing the common yet deadly mistakes that Ugandans commit in land matters. I draw these mistakes from my observations in the few years I have spent buying, selling and dealing in land. Like I have been emphasizing, knowledge doesn’t come by default; you must acquire it. It doesn’t matter how well educated or experienced you are in your field; if you are starting to buy land, you must learn these things or else you will pay heavy ‘school fees’ the painful way through losses, legal battles and regrets.

In my first article I posted 6 common mistakes. In Part 2, I added 2. Now I am adding 3 mistakes, meaning I am starting on number 9. Just in case you missed the previous 2 articles, keep checking the comments; I will ensure to post the links. Let’s now delve into these 3 fatal land mistakes.

9. PAYING IN INSTALMENTS WHEN YOU SHOULDN’T
In Uganda today, you and I know that there are many people currently selling land because of financial problems and you find that their money problems are so deep that the money they get from the land is a drop in the ocean. So you go to this person and deposit your 80m on land worth 100m. You promise to get the balance in 6 months. But remember, you can’t be given the land title before you complete the payments. So you paid 90% of the price, but you’ve left the land title with this person who is financially badly off. Along the way, this person develops an idea: “Since I badly need money and this buyer is bringing the balance in 6 months, let me use the same land title to borrow 100m. By the time he comes to pay the balance I will have cleared this loan and retrieved the title.” So the title for the land that you own by 70% lands into the hands of a money lender.

Fast forward, the seller fails to raise money to pay back the loan and the lender possesses the land and effects transfer of the land to his name. Remember, in most cases, the money lender made this person sign an agreement that he has sold to him the land at 100m. Obviously, the lender has not only taken the land; he is even still demanding for interest from the borrower. So when the 6 months elapse and you show up with the balance of 30m plus an agreement indicating that you deposited 70% and the money lender shows up with an agreement indicating that he bought at 100% and has the title, whose land do you think it will become? Certainly, you will have lost out and the best you can do is to try legal means to recover the 70m you paid to the man. Unfortunately, he is broke and doesn’t have it. All this would have been avoided if you had looked for land that was at 70m, paid the entire amount and walked away with your title or waited for those 6 months and raised the entire 100m.

Do not get me wrong. I am not implying that buying land or anything else in installments is always bad. No. Even myself I’ve bought things on installment basis. But I am very careful. If I am to pay in installments, I have to be sure that I am dealing with someone who is credible, traceable (someone who switch off his phone can’t disappear) and most importantly, one who has the financial capacity to compensate me should any unexpected thing happen. The nature of some people’s income is that it’s extremely hard to save and accumulate money to pay for land in a lumpsome. So that’s where I advise you to buy from credible people and companies that have been recommended by others whom they served through that system well. In business, referral is so important. I could say that more than 90% of customers I get who buy my land have been referred by other satisfied customers.

Of course I must warn (or rather alert) you to beware that in installment buying you there is the aspect of time value of money. If a plot of land is worth Shs 15m and you pay for it in 2 years, the calculation of the price will factor in an interest (even if they don’t tell you) so you will end up paying about Shs 20m. This can explain why you may want to sell the land 2 years later and you are surprised to find the buyers giving you 20m, yet it’s what you paid. Simple, it was the time value of money that worked against you. In other words, it’s the interest that increased the price at which you bought.

10. IGNORING ISSUES OF ACCESS TO THE LAND
If you are not careful you can buy land but find you are not able to reach it because it has no road. I have been laboring to explain that in Uganda we have various land tenure systems, which complicates the process of planning for land. For instance, in Buganda there is a lot of Kabaka’s land and Kibanja where you find small, small plots owned by many people e.g. one acre (which basically should have 8 plots of 50x100) owned by 15 people, each having a small plot. With this kind of situation, in some areas roads have not been created in a proper way. This explains why some roads move round and you find yourself taking 20 minutes to reach a place which should have taken 5 minutes if there was a straight road.

The point I am raising is that it is a mistake for you to buy land without checking on the title to be sure that there is an official road approved by Lands authorities. If there is no road and you still want that land, you can negotiate with the owner(s) of the land next to yours where a road can pass and buy part of that land. Don’t stop at paying for the land. Put it into writing and go ahead to have the Lands office subdivide the land (i.e. cut off that part you bought) so that you own the title for it. But why go through all that hustle? Why not look for land whose title has a clear road? Note that not all roads indicated on the title are already in use. You may be taken through the bush to a certain plot but when on the title a road is demarcated. That’s okay; that road can be created on the ground in future following the specifications on the title once you are ready to develop the land.

Let me add that if you are not able to read the title and interpret whether there is a road to the land you intend to buy or not consult a surveyor or any other knowledgeable person. It doesn’t kill for you to seek advice from experienced people around you. I always feel bad when my close friends and relatives are duped in land matters yet I was there and they didn’t utilize my free advice.

11. FAILURE TO TRANSFER LAND INTO YOUR NAMES
Today, there is a bad habit of people buying land, getting the title plus the transfer forms and just keeping them. They postpone transferring the title to their names claiming they are saving the transfer money. I do not want to use hard words for fear of offending those who have fallen victim to this mistake. But it’s lack of wisdom to reason that way because when time for selling comes, buyers will reduce on the amount they would have given you if the title is not in your name. And if you are unlucky and an issue comes up, you pay much more to correct the mess than what you would have paid to transfer the land in the first place.

Let me give you practical scenarios. When you have bought land and haven’t yet transferred the title to your name, in the Lands office, they do not know you at all; as far as the office is concerned the owner is the one on the title. So if this person is not credible and he learns that you haven’t transferred the land, he could go to lands and say his title got lost or got burnt in a fire. He can apply for a new title and of course it will be given to him because Lands doesn’t know he sold the land. This guy could go ahead and sell the land again to another person. By the time you realize it, you will be battling things in courts and police. And you will most likely lose the land, if you find the second buyer transferred the land before you.

Another important thing to note is that the Land office keeps changing (updating) the requirements for transferring land. For instance, 3 years ago, a copy of the seller’s and buyer’s National ID was not a requirement for transferring land. Today, it is. Hence, if you bought land 4 years ago and want to transfer now you have to look for that person who sold to you to give you a copy of their National ID. Unfortunately, he could have died, relocated to another country, changed address/contacts e.t.c. Even when you find him he may not be willing to help you for free. I remember a scenario where someone came back 2 years after buying to ask for a fresh signature on the transfer forms because the seller had signed in the wrong place. The man asked for 5 million to do so because he had heard that this person was reselling the land and so he knew the person had no option! Do you see how you sweat over something that should have been simple and cheap in the first place? Transferring land whose value is let’s say 20 million will cost you about 500,000 to 700,000 including facilitation for the person who will run around doing it for you. Why do you risk your 20m to save 500k which as we’ve seen eventually turns out not to be a saving at all?

Let me add this: Generally, many buyers will not buy your land if the title is not in your names. This is because they can’t be sure that you completely sorted the one you bought from. And in any case, if any issue comes up like dissatisfaction from previous users or errors in documentation or if some documents get lost, the new buyer will find himself dealing with the third party (who is on the title) whom he did not deal with at the time of purchase. My advice to buyers is that if you are to buy land that is not in the seller’s name, insist that the original owner whose names are on the title gets involved and preferably signs the agreement for you as the seller or at least as a witness. Of course there can be a few exceptions depending upon how well you know the seller and his/her credibility.

I intend to add Part 4 and 5 and at the end of the year I will be releasing a book on real estate. For now, let's have reflect on those 3 land mistakes and always avoid them. For those who need advice from me on land matters, even if you are not my client or intending client, I always give free advice Many of you on this platform can testify that I have offered you advice. I have never charged anyone for advice on real estate.

I love you all. Shalom!

ROBERT BAKE TUMUHAISE
0757256237 | 0779911844
CEO, WORLD OF INSPIRATION Group

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08/05/2021

We are not your usual property agent

29/03/2021

🏠The real deal
plots in Kigo along Entebbe Express!!!!!!!!!
for more details

☎️+256779601629

25/03/2021

The new kid on the block.

Real estate is a Gold mine, the sector has been here for ages and has been proven that it works and is still working.

With the increasing population in Uganda and Africa you will not go wrong since alot of rural- urban migration is exploding in different towns. Therefore if your a real estate Investor you have a chance to increase your cashflow...

However it's important that you have the right team to guide and advise you on where to invest and where not. Where the training is going not where it has left.

Property management is also important because you should actually look at how much money aproperty can fetch you other than how much it costs.

The reason Sudhiru is still investing in real estate is because it's one of the world's proven businesses but like any other business risks will always occur.

14/03/2021

That house is not your house 🏠 therefore humble yourself and deal with it 😂😂😂.

Greetings on behalf of all landlords....

08/03/2021

Happy women's Day despite the challenges you women go through..
We want to celebrate you today