1 Why use a property Management Services?
Owning a residential investment property can provide great returns over time. But it can also be stressful and time consuming due to the various aspects and level of involvement required by the Landlord be it sourcing for a new tenant, solving problems within the property from time to time. Collections of rental, payments of service charge among many other logistics involved with maintaining and managing the property. At Carlton Realtors, we understand these problems and are well trained to handle all these matters on your behalf and ensure that you enjoy the returns of your investment without necessarily taking on board the stress that comes along with Managing of a property.
2 In which Towns do you offer your services?
Our services are available all across Kenya and headquartered in Nairobi
3 What kind of properties are listed on your website?
We list a range of residential & commercial real estate properties including apartments, single dwelling units and land. Our listings include everything from new, resale and to let properties.
4 How can I book a property through Carlton Realtors?
To buy a property through Carlton Realtors, you need to follow the following steps: .
- Check out our property listings
- Identify the property that meets your criteria and enquire on the same.
- Go on a site visit of the selected property with our property experts.
- Close the deal- We help with all legal paperwork & work with the seller/ landlord
5 Who should I contact in case I face any issues?
We have a dedicated Administration and customer care service team, which is available at your service six days a week from 8 am to 5 pm. You can call them on +2540113656597 or mail at [email protected]
6 What is the difference between a short let and a long let in Kenya?
Short lets are usually classified as anything less than six months, while long lets are constituted as anything from a year. This may vary slightly depending on the landlord in question, so it makes sense to discuss this with your letting agent before you make your decision.
7 What are the initial payments required when renting an apartment longterm in Kenya?
When you and the landlord agree on the terms of your rental you will be required to pay one month’s rent in advance, as well as a deposit. The amount of the deposit will be confirmed by your landlord, but is usually equivalent to one month’s rent. .
8 At the end of the tenancy, what are my obligations?
You will be required to leave the property the same way that you found it. You could choose to clean it yourself, or hire a cleaning company. You will also need to go through the inventory to ensure that all the items are still there and in good working condition. Finally, you will need to hand over all sets of keys to the landlord.
Properties Landlords and Sellers questions
I. I want to sell my property. How can Carlton Realtors help me?
For selling your property, get in touch with us and we’ll guide you through
II. I am a property broker. How can BKM help me?
You can list the properties available for sale with us. By registering with us as a broker, you would get associated with a multitude of buyers as a seller
III. When is the sale of a residential property formalized?
The sale of a residential property is said to have been formalized if the seller has received the entire consideration amount, registration of the documents has been carried out and actual possession of the property has been granted to the buyer
IV. What is my property worth?
A large number of factors has to be taken into account when determining the value of a property, including the size, location and orientation of the land, the age, style and size of the house, the desirability of the property to potential buyers in the market as well as the economic climate.
Carlton Realtors sales agents take all of these factors in to account as well as the sales data in your area to provide you with a realistic guide price for your property.
V. What is the best time to sell my property?
Everyone’s personal and financial situations are different so we believe the best time to sell your property is when it suits you
VI. What type of Agency Agreement do you offer?
We offer the Exclusive Agency Agreements for both selling and renting: where you utilise Carlton Realtors as the sole agent for your property
VII. Why is my property a good investment?
There are three main benefits you get from real estate as an investment:
INCOME - when one thinks of rental property, he thinks of cash flow which is the difference between the rent and all the expenses for the property
EQUITY BUILD-UP - each month the tenant is paying rent, the principle on the mortgage is getting reduced and you build equity.
APPRECIATION - One of the best benefits of real estate is appreciation. Real estate is a long-term investment. Although there will be ups and downs in the market, over time your property will appreciate in value.
VIII. How do you find me a good tenant and how long will it take?
Once we start management, a rental file is made up. Your property is added to our list of available properties. Your property is also listed on the internet in over a dozen of the top home rental sites. We can also put up a rental sign, if desired.
The time of the year and the condition of the property will determine how long it takes for your property to rent. Generally, it takes up to one month to lease up a property in good condition. In order to rent property faster, we need to understand things from the tenant's perspective. They need to be able to see property first and whenever they want. Once someone is interested in your property, they fill out one of our rental applications, which they can do on-line.
We are professionals at renting homes, which minimizes vacancy time, minimizes repair and redecorating costs by getting better quality tenants to take care of your home, which produces higher rents and profit for you. And we have an outstanding record for doing so.
IX. How is maintenance handled?
The tenants do have responsibility for some of the maintenance on your property. When repairs need to be done outside the scope of the tenant's responsibility, we would have one of our in-house maintenance technicians or one of our sub-contractors handle the job. Anyone doing maintenance on your property is selectively screened and insured for liability and worker’s compensation to protect you from unnecessary exposure. Our workers are available for your property maintenance needs 24 hours a day and their work is guaranteed. We handle the nuisance calls at all hours of the day or night. So you don't have to deal with that call in the middle of the night.
If we go out and find that the problem was tenant caused, the tenant will be billed and responsible for reimbursement of the charge. We look at your property as our own and are only doing necessary maintenance and repairs; however, if it exceeds our authorization limit as stated in our management agreement, you will be contacted
X. What do I need to do to my property before I rent it?
The better condition your property is in; the better quality tenant we will attract for you. This means that the property should be clean, carpeting should be shampooed, walls should be painted (a neutral color is best) if they are dirty or marred, and things should be in good repair. Upon taking over management, we will go through your property and make note of the condition and what we would suggest being done. You would then instruct us what you want done.
XI. What type of reporting do I get?
We are not only completely computerized, we are web-based, which means you have access to what is going on with your property from anywhere there is an internet connection. You get monthly financial statements which detail every transaction affecting your property. If there was maintenance done on your property, you can access the maintenance details and even view the invoice from the contractor. There is also a year to date profit and loss statement which gives you the month to date and year to date totals per category and the net profit month to date and year to date. This makes your tax preparation at the end of the years easy- all your year-to-date totals are neatly arranged
In addition, your funds are electronically deposited into your account. No need to go to the bank to deposit your rent checks. You also have an on-line owner portal for fast access to all you statement and copies of bills.
XII. How is rent collection and bill paying handled?
At Carlton Realtors we have fair but firm rent collection policies. Like most leases, our rent is due on the fifth of each month. Late fee is charged after the 5th of the month. If we don't receive the rent by around the 10th of the month, we start the eviction process. We take quick action when there is a delinquency because further delay can only add to no rent in your pocket. We've heard all the stories from tenants on why they can't pay rent. We manage this like a business and things happen as a system. We are always professional with your tenants, but paying rent is one of their main responsibilities. The good thing is we buffer you from the firmness that is required.
XIII. When do I get my money each month?
Rents are due in our office on the fifth of each month. Our leases specify that if rent is not received by the first of the month, a late fee is assessed. In order to avoid violating trust accounting laws, we need to wait until rent checks clear before we can send payment to you.
We deposit your funds electronically into the bank of your choice. This process is done on the 15th of each month and funds will be in your account the next business day.
We will collect the rent, pay the bills and then at the end of each month, provide you detailed monthly statements showing all the income and expenses for the month along with payment of any excess funds
XIV. Who actually handles my property?
Our management system is that of departments so there are many people handling different functions on a daily basis. As the owner, your contact person is the property manager. Most communication will be via email which eliminates the phone tag and gives us more time to effectively manage your property. There are several other staff members working behind the scenes to assure a consistent level of service.
XV. What if the tenant breaks the lease?
We do sign a legal rental agreement with your tenant which does give you rights if the tenant violates any terms or conditions. We found that it's always better to work with the tenants rather than against them should the need arise to get out of the lease. We understand that people have things happen in their lives that are not always avoidable. For instance, they might get a job transfer or lost their job. They could get a divorce or simply want to buy a house. By working against the tenant in these
situations, most landlords find themselves spending more time and money than they want. When we review with the tenants during lease closing process, we go over these situations and explain that by notifying us if they need to get out of their lease, we can work with them to re-rent the property. If we can, they are then released of any further obligation and it costs you nothing. The tenant understands that they are still responsible until we re-lease the property.
XVI. What happens if a tenant does damage?
Should the tenant leave your property owing more than is covered by the deposit, they will be billed. If they do not pay, they will be turned over to a collection agency
XVII. How often do you check on my property?
The first step is our initial evaluation of your property. One of our managers will come out and go through the house and assess the condition and give recommendations and suggestions to maximize the rental value and minimize risk.
Prior to the tenant moving in we conduct a move-in evaluation. We do it again when they move out. If there is maintenance needed, our techs will fill out a property form which gives us more eyes looking at your property. Houses do wear out - everything from roofs to floor covering to appliances, therefore, the managers do annual evaluations noting how things are holding up.