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Why Kenyan Rent Defaulters May Soon Be Blacklisted

Kenyan landlords are pushing for a plan that seeks to have rent defaulters listed with credit reference bureaus (CRBs).

The Urban Landlords and Tenants Association of Kenya (ULTAK) is seeking the Central Bank of Kenya’s authority to implement the proposal.

If CBK approves the request, landlords will liaise with CRBs concerning their tenants’ monthly payments.

ULTAK secretary-general Ephraim Murigo says the plan will ensure tenants who previously defaulted on rent payments find it hard to rent houses in other locations.

Before signing lease agreements, landlords will demand a CRB clearance from those seeking to rent their houses.

“Today, landlords resort to a number of crafty ways like locking up a tenant’s belongings to recover unpaid rent. Once our plan is implemented, it will become difficult for tenants to dodge their responsibilities, and hence landlords will have an easier time,” Says Murigo.

“My association has come up with a formula whereby tenants will stop feeling like defaulting on rent is normal. We have approached credit reference bureaus to partner with them with an aim of listing all tenants who default on rent payment.”

2018 data by Transunion Credit Reference Bureau shows that more than 500,000 Kenyans have been blacklisted and thus cannot access credit facilities.

Source: Mwakilishi

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How to acquire, keep at healthy business lifestyle

Apparently, one of the most talked about the subject today is “a healthy lifestyle.”

It is now in the public domain that lifestyle diseases are killing more people than dreaded diseases like malaria and HIV Aids.

Lifestyle diseases as the name suggests are diseases that are associated with the way people live their lives. They are usually caused by eating habits, smoking, drinking alcohol, lack of physical exercise and stress. They include some types of cancer, diabetes and heart problems.

The good news about lifestyle diseases is that they are non-communicable and can be prevented by choosing a healthy lifestyle.

In business, there also lifestyle problems. Otherwise, how can you explain a business that sells products that are on high demand, has high margins, has many customers, good initial capital but cannot meet its obligations? It is simply the lifestyle of the owners or managers.

If you paid attention you will be disturbed by the high number of business that used to do very well but are struggling or a promising business that suddenly makes an about-turn. Most of these business woes spring from mismanagement or simply a bad lifestyle.

Like a healthy body, if you embraced certain proven healthy business habits, you are sure to succeed in your business.

Let’s look at a few of them.

First, manage your cash flow well. Cash is the most important thing in business. If you mess up cash flow by overcommitting your money, overstocking, overspending, unplanned expansion or taking profits too soon, you will not be able to meet your financial obligations or take advantage of many opportunities that you might often come across.

Second, focus on most important things to avoid spreading yourself too thin or cluttering your mind with unimportant things. Find your niche market, your best customers, your most profitable products and your best strategies that work and focus on them. Prune the rest so that you can be light and productive.

Put up working systems in your office. You need an effective accounting and management software to monitor key things like stock, movement of all resources as well as opportunities. Without a good system that can give you real-time reports, you are exposed to many risks.

Third, keep prospecting to get new customers. Develop your product to suit your prospective customers. You can never rely on your current customers regardless of your level of customer care. Some of them will be grabbed by competitors, some will move or change preferences and others will fade due to natural attrition. The only way to keep growing is to keep prospecting and replacing customers who will nevertheless go away.

Finally, embrace taking good care of employees to attract and retain the best. Companies that have a high turnover always lose.

They lose to their competitors and customer goodwill. Employees are the biggest asset that a business can leverage to grow.

Writer: Mr Kiunga 

Source: Business Daily Africa

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Common Land Investment Myths You Will Be Glad Aren’t True

Most would-be landowners view the process of buying land as a scary venture that is risky to their finances and even life. The horror stories depicting harrowing stories of hapless land buyers duped of their life savings don’t make the situation better. However, with the right information, you can invest in real estate without as much as a scandal or losing sleep. Also, you will discover that most of your unfounded fear is based on misconceptions and myths. We demystify some of the land investment myths you might have heard from others.

Myth 1: Land is land. So, why pay higher for some land?

Land prices differ based on various factors such as the location, size, land rates, land use and other factors. Not all land is the same and you need to have all these considerations in mind as you plan to buy land.

Myth 2: I need a lot of money to invest in land

Your worry as an investor should be on why you need the land and if it will meet your current needs whether you want to build or buy a home. As mentioned above, the price of land is dependent on several factors. So, the size of the land and its location will determine the cost. Also, you can get help financing your land investment in the form of a mortgage.

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Source: BuyRentKenya

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5 Ways to Ease your Home Loan Burden

Many of us have contemplated mortgages. But are you conversant with mortgages? We stumbled on this post and we think it will inform you on how to quite understand mortgages.


You may have had to take out a home loan to make your home ownership dreams come to fruition. How, though, can you reduce that the financial burden of servicing that loan? What can you do if you wish to help take down the amount that you need to pay at present?

Here are some useful ideas that you should explore to help minimize your home loan burden. They may not all be perfect for you, but each one should provide some much-needed balance.

  1. Balance transfer of loan

Of course, you should first investigate if you can balance transfer what remains of your loan to a different form of payment structure. Consolidation of all of your debt is always a good idea and can be a convenient way to help make a home loan less cumbersome.

Take this into account, as it should go some way to helping you spend less money per month paying off all of your loans. By consolidating it with a balance transfer, you can then make one payment for each of your loans and reduce your admin fees and various other needless extras.

If you wish to make this work to your favor, then you should definitely look to transfer your home loan to a different balance. Now, you can easily keep track of all of your expenditure and know exactly what you are paying on a monthly basis, which is extremely useful.

  1. Pay more than is due

A fine way to help make sure your home loan is less of a kick in the teeth per month is to pay more than the amount that is due. This should help you to make sure that you are repaying more quickly when times are good. It will also help you to vastly reduce the amount of money that you see leaving your account in the first place.

This could help you to increase your home loan without making your life any less affordable. Don’t commit to something that you cannot keep up, though; if your income is flexible, make sure you are paying no more than 35% of your income on debts – including your home loan. When things are going good, though, paying a bit more is something you won’t regret doing.

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Source: Cytonn Blog