FREQUENTLY ASKED QUESTIONS
1) WHAT TO CONSIDER BEFORE RENTING A HOUSE/APARTMENT
Its important firstly to consider the size of house you would like e.g number of bedrooms, number of bathrooms, size of the spaces and the plot e.t.c
After one is well acquainted with the areas, the preferred location of one’s home is as important and there are many factors that come with a particular location
- Security of the area
- Proximity or distance
- Peace and quiet
- Access to your home
- Type of neighborhood
- Natural Greenery e.t.c
Character or type of house/home which a lot of people take into consideration and examples are:
- Old or Modern house
- Lay out or design of the house
- Type of garden; small, large, mature e.t.c
- Finishing to the house
- Single house, semi detached, apartment, cottages e.t.c
- Type of fittings and fixtures to the house or home
Other features to the House/Home
i) Swimming pool, tennis court or other sports facilities to your home
ii) Fully, semi or non furnished
iii) Security communicational system
iv) Automatic controlled house gargets
v) Farm or plantations on the home
- One’s budget or expenditure on their rent should also be taken into consideration when searching for a house because it determines the type, the facilities and location of the house.
- Terms of payment are important in that different management and landlords of property may have varying terms of payment.
2) HOW DO I GET TO FIND MYSELF AN IDEAL HOUSE/APARTMENT?
We highly recommend that one uses the services of a well established Estate agency company by searching on the internet, directories and other media forms.
3) HOW DO I NEGOCIATE TO GET MYSELF A GOOD DEAL ON A HOUSE?
We suggest you use your estate agent for negotiations and mediations on any agreements between you and the landlord.
4) HOW DO I MAKE A FAIR TENANCY CONTRACT WITH MY NEW LANDLORD?
If your place of work does not provide tenancy agreements then you may contact your agent for a standard contract.
5) HOW DO I MAKE SOME CHANGES TO HOUSE THAT AM INTERESTED TO RENT?
You may request some changes be done onto a property that you are interested to rent, the landlord usually may want some sort of commitment either in principal or an advance part payment, please do consult with your agent for best results of such an agreement.
1) HOW DO I HAVE MY HOUSE QUICKLY RENTED OR SOLD?
There is about three ways in which a landlord can achieve this in the shortest and most beneficial way
An attractive house is always better marketable and will soon get rented or bought because of the many admirers it attracts but first it is important to know some factors that will attract potential tenants or buyers to your house.
- Keeping the house bright and clean
- Good maintenance and repair with good workmanship
- An upgrade is always good to keep in trend with the newer houses
- Well-groomed garden
- Improvement on the general security of the house depending on its location
- Improvement on the access roads
Knowledge Of The Prevailing Property Market
It is important to have knowledge of the property market both to help you decide on any modification and state of your property and also to help you decide or negotiate on an appropriate rent or price to your house. It is suggested that one consults wit a reputable property agent as to have better knowledge and update on the prevailing property market.
Having good and various marketing strategies will sell off your house quickly thus incurring fewer costs. Consulting a reputable agency will expose your house to many potential tenants or buyers at the most competitive prices through use of various marketing tools such as media advertising, hand outs, posters, internet, house inspections e.t.c
1) For buyers and developers of properties for investment, how do you get attain maximum returns in the shortest time possible?
For buyers and developers it is only important to have knowledge of the market demand one is targeting and there a number of points that should taken into consideration in order to gain profitably from this.
It is the most important aspect in the property business, a good location will always attract tenants and the rent will always be high and stable. It is important to note that most people will actually look out for a good location than any other reason, to rent a home or business premise.
What constitutes a good neighborhood?
i) Good Security of the place
ii) Good Access to the place
iii) Proximity e.g near to schools, shopping centers, work place, public transport e.t.c
iv) High profile neighborhood/type
v) Great views e.g Lake views
vi) Peace and quiet
vii) Availability of Utilities e.g Power, water, telephone, garbage collection e.t.c
This again should be greatly considered depending on the type of tenants or rent bracket one is targeting. Consulting a well-established estate agent should give some answers on a number of factors that make a good house/home plan which include;
i) Size of House
iii) Facilities to house
iv) Location of house
GOOD FINISH AND STATE OF PROPERTY
Good finishing to a house is important when marketing it to new tenants, we recommend good reputable construction companies or fundis (handyman) to provide a good workmanship to your property. Emphasis is should be given to items like Kitchen Fittings, floor fittings, carpentry works, sanitary and plumbing fixtures, glass and window fittings, electrical fittings e.t.c
Good state or maintenance of a property is important in order to accrue stable rent. Having regular maintenance and repairs to rectify faults will keep a property in good state hence attractive to new and exiting tenants.
MARKERTING YOUR PROPERTY
Marketing your property is very vital and will expose your house to many prospective tenants or buyers at the most competitive prices.
PURCHASE OF PROPERTY IN UGANDA
1) HOW DO I FIND PROPERTY FOR SALE
We highly recommend that one consults a well established estate agency which is able to provide you all the solutions to your property needs, a fully fledged process that includes the search, valuation, negotiations, verifications of titles e.t.c
There are a number of services rendered by using a reputable estate company which include;
i) Search & Provision of variety of properties on sale
ii) Valuation and investment appraisal
iii) Negotiations for the best prices
iv) Verification of property titles
v) Assistance in acquiring financing
vi) Legal assistance in transactions
vii) Marketing & finding tenants
viii) Property Management
2) WHAT ARE THE PAYMENT TERMS IN UGANDA?
Usually properties sold privately are paid off 100% which is done so as to get bigger discounts on a transaction but softer payment are being adapted where one can deposit 50% and the rest is paid in installments with in a period of three to six months
3) HOW CAN I OBTAIN FINANCING IN UGANDA?
Financing can be obtained in Uganda through many banks to purchase property but one usually requires having about 40 percent of the sale value. Financing for purchase of a property can be obtained from Banks, Building Societies or Mortgage Companies in Uganda.Banks like Housing Finance of Uganda give provision of financing directed to property and have long-term repayment of loans.
4) HOW CAN A NON-RESIDENT/PEOPLE LIVING ABROAD BUY PROPERTY IN UGANDA?
The best and the easiest way to buy property as a non-resident is to appoint a lawyer in Uganda who can act on your behalf. Your lawyer will arrange to have the sale agreement signed by you and will also undertake to get the title of the property transferred into your name.