Are you looking for a buy-to-rent Kenya property in Nairobi or any other major city in Kenya? There are many things to consider to ensure you make a prudent choice. Whether you are home hunting for an apartment, studio house, single room, double room, 1 (one), 2 (two), 3 (three), 4 (four)...etc, bedrooms, then you should consider sparing some minutes to read through this article. 

Moving to your first house or getting into a buy-to-rent Kenya property represents a new phase in an individual life. Being an essential step in life, you don't just pick the first vacant house you come across. It is vital to consider various critical factors to help you ensure you get value for your money and a great choice that will suit your lifestyle or needs. 

Below are some crucial information, questions you must ask, and everything you need to know when looking for a buy-to-rent property to call your new home in Kenya.

Ways to Look For Buy-to-Rent Kenya Property 

When you are looking for a buy-to-rent Kenya property, you have three options: 

1. Doing an Online Search 

Searching online for a property to rent and later own after finishing payments is the most convenient and time-saving method to find your dream home. Doing an online search is vital because you can do it anywhere. You are good to go with an internet connection and a smartphone or laptop.

However, one of the most significant downsides of this option is the high number of fraudsters. 

Here are some of the ways you will able to identify scammers when searching for buy-to-rent Kenya property: 

• Typically, fraudsters post elegant property images with unusually low price tags on their social media profiles or websites. For instance, you come across a two-bedroom home for Kshs 16,000 monthly in a neighborhood or town where the average rental price for a similar property is Kshs 26,000. 
• The scammers are always quick to ask for a down payment or deposit. Their main reason is that "another prospective tenant already promised to pay the same day, and you might fail to get a chance if they pay first." 
• Some fraudsters insist that they are "not available" for house viewing when you want to conduct a home inspection, but inform you that you are free to pay up the "deposit" to book the home."  

Therefore, watch out for these red flags in your property hunt online to avoid falling victim to fraudsters. For the best experience, check our Home2Home website. You can also contact us directly, and our customer representatives will ensure you get the right home that matches your needs.

2. Paying an Agent 

Another option when doing a rental home-to-own search is to enlist the services of a real estate agent. This process involves finding a reputable realtor online and outlining your preferences regarding the kind of rental house you want to call your new home. Usually, real estate agents charge 15% of the annual rent-to-own amount; sometimes, the figure is much higher depending on the type of home you are looking for.  

It is therefore advisable to ask what the fees you will be responsible for paying before you start working with the real estate agent. This option of house hunting is most suited to people who are busy at work and rarely have time to go searching for themselves. The real estate agent fees can seem expensive, but it's worth it because there is a high probability of getting a house best suited to your preference within the shortest time possible. 

3. Physically Visiting the Buy-to-Rent Kenya Property 

For people with enough time and who don't want to spend a dime on real estate agent fees, doing a physical house hunt is a suitable alternative for a rental property. One significant upside of this method is that the individual can see the actual house and its surroundings. There is also minimal chance of falling victim to fraud because you can deal directly with the property owner or caretaker; thus, you can guarantee your hard-earned money doesn't land in the wrong hands. 

Considering all three ways of finding a new rental home to buy, the best option is looking at our Home2Home website. Realtors have numerous listed homes for rent, and you can quickly get the right home by customizing your search from anywhere, depending on your preferences, as long as you have your smartphone and internet connectivity. 

When is the best time to look for a Buy-to-Rent Kenya Property? 

The right time to look for a rental home in Kenya is the last week or the first week of the month. This is because this is the time most tenants vacate their houses. Doing a home hunt during the middle of the month is usually frustrating because there is a high chance the houses are still occupied.

Once you have located a property you like to live in, you usually have a few hours to pay and move in because vacant houses get occupied fast, especially within the Nairobi Metropolitan Area, specifically if it's month-end. If you hesitate or fail to agree with the property owner or caretaker, you will miss out since other people who like the same house will have occupied it. To avoid this heartbreaking situation, you should pay the property owner or the official bank account provided by the caretaker and keep the receipt. 

Will Rental Prices Drop Soon? 

Rental prices are unlikely to drop, especially if you are looking for a rental house in areas with high demand, close to major cities such as Nairobi. In fact, there are high chances of prices appreciating in places where most property owners would rather have their houses stay vacant than lower their rent even during the COVID-19 pandemic. However, it is essential to note that rental rates are not permanently fixed. 

This is more common when the property is managed directly by the owner, and there are no intermediaries, such as real estate companies. Therefore, it is advisable to negotiate with the landlord or landlady and propose a good deal. For instance, when the house is quoted Kshs 55,000 per month, you can offer Kshs. 54,000 monthly. 

How to Get a Cheaper Buy-to-Rent Home in Kenya? 

Finding a cheaper rental home to own in Kenya is challenging, given the recent boom in the real estate industry, especially in urban areas where demand for such property is always high. But, one trick you need to know is that cheaper rental houses are usually located near expensive ones. You only need to consider the age of the rental property because, generally, in the real estate industry, older buildings typically have lower rental rates than new buildings.  

Property owners charge relatively low rental rates because, in most cases, the houses have issues, such as minor plumbing problems. Another trick is to consider booking houses on the ground floor of the buildings because they are cheaper than their equivalents on the upper floors.  

Factors to Consider When Choosing a Buy-to-Rent Kenya Property 

Now that you know everything necessary when undertaking a house search for a new rental home, below are some of the vital considerations you need to consider when making a final decision on your new home. 

1. Budget 

Before choosing a rental house, you must ensure it is within your financial limit. If the cost is too high compared to your budget, regardless of how much you like it, it is not advisable to move in. There is no need to move into a property where you will feel pressure to afford the rental price when there is a high probability of getting a home within your financial range. 

For instance, an apartment located on Mombasa Road or Thika Road will have similar facilities as a home for rent found in high-income areas such as Lavington or Kilimani, and you will still be able to save on rent paid. 

When establishing how much rent to pay, it is essential to note that financial experts recommend that at most 30% of an individual’s gross monthly income be used to cover rental expenses. This rule is vital because it ensures an individual accounts for other costs, such as setting aside emergency cash, when doing monthly budgeting.

2. Security of the Area 

One vital locational factors to consider when renting an apartment is the area's security. The location of your new rental home should have a low to zero record of criminal activity cases. You must ensure the area is secure especially if you have a family. 

For instance, many people feared renting homes located on Kiambu Road before; however, with the relocation of DCI headquarters, the Kiambu Road region has become one of the secure areas in Kenya preferred by many people looking for buy-to-rent Kenya property.  

3. Personal Preferences

Personal preference is vital when looking for a buy-to-rent Kenya property to avoid frequent movement. People have varied tastes when selecting their preferred location to rent a home. For instance, some people prefer serene environments free from urbanization, pollution, noise, and air. 

Also, many people who have families tend to prefer residential estates with controlled traffic and private settings. Such specific preferences should be addressed when house hunting in Kenya.

4. Size of Property 

Another critical factor to consider before paying the rental deposit is the size of the house. For example, an individual with a huge family requires a big apartment. The home should have larger rooms and, in most cases, more than one bathroom to cater to occupants' needs. 

Additionally, if young children are involved, the home should have space for the kids' playground. 

5. Basic Amenities 

Basic amenities such as electricity, water, internet access, and mobile network accessibility must be a key consideration when looking for a house to rent. Living in an area that lacks these luxurious yet primary commodities can be a nightmare and can easily influence your decision to move out and find a new place within a short period.

6. Structural Soundness of the Property  

When looking for an apartment to rent, whether you are planning to cut on the budget by considering an old building with relatively low rental rates or you are financially comfortable affording a new property, you need to guarantee that you assess the structural health of the unit. It would help if you watched out for any cracks visible in the main supporting pillars, brown spots on the ceiling cover, or leaking roofs.  

Conducting a thorough analysis of the property's structural soundness will help you avoid the risk of the house collapsing and endangering your life or the lives of your loved ones.

7. Pet policy within the Apartment 

Most apartments or homes for rent have a pet policy detailing whether the property owner allows tenants to have pets in their buildings. According to surveys done in various estates, many property owners do not allow tenants to stay with pets because it attracts extra charges on the property maintenance cost. Some property owners also have specific rent policies indicating how many or what kinds of pets tenants are allowed to have.

Therefore, before moving into your new rental house, it is essential to read the pet policy keenly, especially if you are a pet lover. 

Conclusion 

Making an informed decision ensures a rewarding, exciting, and successful procedure when looking for a buy-to-rent property. Carefully examining crucial things like your budget, property size, basic amenities, structural health of the building, and pet policy ensures a secure and profitable investment. Each of these factors plays a crucial role in gauging the success of your house hunting for buy-to-rent Kenya property. Contact us at Home2Home today for the ultimate buy-to-rent home-hunting search!