Profitability is a core factor that you must look at when doing any investment and real estates are no exception. However this is a business that requires huge capital outlay that at times you will have to borrow money from banks and other financial institutions to establish. This therefore means that you will require the return on investment period to be much shorter so that you service your mortgage in due time. You may need to find ways of increasing revenues you get from your property and here are ways through which you can do that.
Related Post
How much does a 3 Bedroom house cost to build in Kenya
How much does a 3 Bedroom house cost to build in Kenya
How much does a 3 Bedroom house cost to build in Kenya
How much does a 3 Bedroom house cost to build in Kenya
2 Bedroom House in Mbale Vihiga County, 14 days later. Affordable Housing, Less than Ksh1M Budget
Let the tenants meet operational costs- this is a strategy that may help you to save yourself from monthly utility bills. Electricity and water bills can be met by the tenants and all you will do is just to charge them for rent and let them settle the utility bills by themselves. Most of the time electricity bills may go beyond what you expect especially if the tenants use gadgets that use lots of energy like water heaters and this may eat into the rent paid to you.
Increase rent- over a time the value of rent will depreciate due to inflation and so you will have to increase the rent so that the inflation does not affect your profitability. Increasing the rent may help you to maintain your initial profit margin or better yet help you increase your profit margin and help you service your mortgage. Most Kisumu real estates are fairly priced and therefore there exist that margin to increase rent to profitable figures.
You may also consider having a new management that will bring you new ideas on how to reduce expenses and increase the income of the property. Kisumu real estate can be a profitable investment but you need to keep above the expenses to enjoy the investment.
Related Posts
How much does it cost to build a 4 bedroom house in Kenya
How much does it cost to build a 3 bedroom house in Kenya
How much does it cost to build a three bedroom house in Kenya
How much does it cost to build a 2 bedroom house in Kenya
How much does it cost to build a two bedroom house in Kenya
How much does it cost to build a 5 bedroom house in Kenya
How much does a 3 bedroom house cost to build in Kenya
How much does it cost to build a 3 bedroom house in Kenya
How much does it cost to build a three bedroom house in Kenya
How much does it cost to build a one bedroom house in Kenya
How much does it cost to build a four bedroom house in Kenya
How much does a 4 bedroom building cost to construct in Kenya
How much does it cost to build a 1 bedroom house in Kenya
If you are looking a house designs in Kenya or a construction company in Kenya for your next project, think Marble Engineering and Construction Ltd.
We are a Design and Build Construction Company in Kenya with over 25 years of experience in active building construction in Kenya. We mainly do house plans, project planning, building construction, renovations and extensions, institutional building, commercial office blocks and plumbing and drainage services.