Owning a rental property in Nairobi can be a lucrative investment, but maximizing your rental yield requires a strategic approach. It's not just about collecting rent; it's about optimizing your property's appeal, minimizing vacancies, and managing expenses effectively.
One of the most important decisions is whether to furnish the property. While unfurnished properties may attract longer-term tenants, furnished apartments, especially in areas popular with expatriates and young professionals, can command significantly higher rents. High-quality, stylish furniture can make your property stand out and justify a premium price.
Finding the right tenant is also critical. Thorough screening, including credit checks and references, can save you from potential headaches down the line. A good tenant is more likely to pay rent on time, take care of the property, and stay for a longer period, reducing turnover costs and vacancy periods.