- Overview
- Types of Real Estate Agencies
- Regulations
- Skill Required
- Process
- Existing Business Models
- Rent Collection Models
- Operations
- Systems Operations
- Revenue, Pricing, Costs
- Fee Schedule
- Pricing Costs
- Example: Property Remittance Report
- Example: Agent Ledger Report
- Factors Influencing Revenue
- Conclusion .
- Market Entry.
- Identifying The Opportunity
- What Landlords Want
- Barriers to Entry.
- Relationship with Landlords
- Parting Ways
- What You Need to Start (Capital Breakdown)
- Notes:
- Appendix
- Example: Client Contract Introduction Letter.
- Example: Management Agreement Contract
- Example: Demand Letter To Tenants
- Example: Universal Lease Agreement
- Tips , Tricks and much more.
".....Low rates can only be sustainable if everything is running absolutely smoothly. But that rarely happens. A tenant could be a serial defaulter to an extent that you are forced to distress him. Distressing involve making ‘threats’, using auctioneers and other such methods. These cost money.
Then what happens when houses are vacant? You have to look for tenants. This could involve advertising which costs money. There are also the costs of running and maintaining the office. At low rates you will be straining if not operating at losses.
To help get a picture of the commissions that you are likely to get, let us illustrate with some example.
Assume you are managing a four storey building with 16 two bedroom houses each renting at Kshs. 15,000 per month. The total possible rental income is Kshs. 15,000 * 16 which is Kshs. 240,000. The commissions will be as below:
".....The real estate agency business is regulated by the estate agency board This is the body authorized to license all real estate agents. However it is an open secret that many agents are not registered let alone be aware of the existence of a body to regulate their trade. The EAB too doesn’t have the capacity......"
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