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What Should You Look At Before Signing A Lease Agreement?

BY Soko Directory Team · October 1, 2020 04:10 pm

Finding a house to rent in Nairobi is an extreme sport. Many people have lost money while paying for the “finders’” fee before even getting the house they want to move in. some have even ended up being robbed for being where they are not supposed to be in search of a house to rent.

After all the trouble, one gets a house. It comes at that time that they have to sign the lease for paying rent. Most people will always sign without reading. That should never be the case. You must read. Here is what you should know before signing that lease:

Can you move in as soon as possible?

What does the lease say about moving? Will the landlord be charging rent on the day that you move in? This will help you know when you are supposed to move in and what will happen when you move in before the start of the new month. This will also help you know when to pay rent.

Does the lease allow you to move out before the expiry of the lease?

Sometimes you might want to move out of the house before the end of the month. You might want to move out because of various issues such as the room having mould issues or you might just not be in love with the house.  What happens in that case? Will the landlord refund your rent deposit? Will you be required to pay for the whole month even when you are moving out before the end of the month?

What does that lease mean to you?

That lease agreement is addressing you. Do not be in a hurry to sign. Take your time. Read through it. Ask questions for clarification. What happens to your rent deposit? When moving out, will you be able to get your rent deposit back?

What are the payment options?

Some landlords will ask you to pay using Mpesa, cheque payment, or even cash. Just make sure that you get the right payment information and ensure that you ask for receipts each time. If you pay via M-Pesa, make sure you secure the messages at all times.

What about rent deposits?

You might have heard people say that getting a rent deposit out of a landlord in Kenya is like milking water out of a rock. Ask people to stay on the plot if the landlord has a habit of refusing to give back deposits.

Are you allowed to make changes to the house?

Say the house does not have the colors you love. Are you allowed to repaint it? How about the shelves? If you want to mount something on the wall like a bookshelf, is it allowed?

Who carries the burden of damage costs?

This is another major issue that people face when they move to a new house. When something fails in the house, should you fix it yourself, or is that the work of the landlord? If the tap is leaking, do you find a plumber to fix it or do you alert the caretaker?

If this clause is not in the lease agreement, ask questions to find out how to handle repairs and damages.

When should you pay rent?

Is the landlord strict? Is there a grace period for paying rent? What happens when you delay paying rent?

There are so many things to consider before signing a lease. The most important thing is to make sure you read the lease. Understand. Ask questions.

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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