Are you moving from your house in Kigali? Did your family get bigger or smaller, and it no longer makes sense to say in your current house? Now may be a good time to consider leasing your property as you move into a more fitting one.
Nowadays, depending on multiple streams of income has become the norm. With many people owning a piece of land or even a house, real estate has become an industry that is very easy to invest in. More so that the Rwandan real estate is booming. Many people, however, delay starting because they think the process is daunting. We are here to show you the ropes. Vibe House is one leading agencies in Kigali, and from our experience dealing with experienced and new landlords, we have created this post that covers everything you need to know to put your property for lease.
1. Is it the right time?
The very first thing to consider is: Is it the right time? It is not uncommon for people to start the process only to change their mind later because they didn’t know what the process entailed. That is why it is necessary to budget for what it will require in terms of time and finances. One important decision to make is whether you will renovate the house or not. Other questions to consider are: Will you need to hire a security guard for the property? Who will be showing visitors around?
2. Getting your property ready
Once you have decided it is the right time to put your property up for lease, it is time to understand the market and prepare your property accordingly. Depending on the type of property, you will have to make different adjustments. If you have been living in the house, it may require a paint job and some plumbing issues fixed. While some tenants are willing to compromise, there are some things they expect from a house for rent. The first is for everything to function properly. Clients in Kigali are increasingly looking for modern homes, so this may be an excellent opportunity to increase the value of your home by installing a high-quality kitchen and tiles. All this contributes to increasing the value of your property and means you can charge higher than non-renovated houses.
2. What price should you set?
Like any investment, you want a return on investment, which is why setting a price is very important. One thing to be wary of is setting a price that is too high that nobody will be interested. Carry out research and cross-check what other properties similar to yours are charging. Our list of properties can give you an idea. In addition to getting a return on the investment on renovations, the price you set should take into account location, size, and any additional features. Find out general pricing in our guide to the real estate market.
3. How to get clients
Now that your house is ready, you need clients. Nobody wants to get a house ready and wait six months without a tenant. This is very discouraging, not only emotionally, but it is a loss financially. This is why we recommend working with a real estate agency. Agencies have many connections, and they are the first point of contact with the tenants. They also have advertising means. For a small fee, you can get your property on their website, and get it seen by the right people. Rather than sweating to build a network of interested tenants, work with a well-established agency with a comprehensive pricing model.
Working with Vibe House is the most convenient way to sell or rent your house in Kigali. All you need to do is contact us, and then we will send our team of professional photographers and real estate experts to visit the property, create the listing for the website and advertise it for you. As soon as we receive interest in the listing, we will show the client around your house or apartment.
Vibe House does not charge you until a tenant has signed a contract to lease your property. To learn more about Vibe House’s cost structure, contact us today at 0788 639 023 or info@vibehouse.rw.
