By Stephen Wandera email@example.com
KAMPALA, Uganda, Land lords have been told to stop a common practice of allowing tenants sublet shops and office space as a means controlling high cost of rent. According to Mr Probhat Mishra, the general manage, Crane Management Services (CMS), subletting is one of the main cause of expensive accommodation in urban centers in the country.
“You find a middle man rent a whole floor of flat and later sublets at a higher fee. As real estate developers, we should not allow this to happen. We end up cheating our own selves because few months later, our tenants cannot be able to pay rent and end up defaulting,” he said.
As one of the major land lords in Kampala, we do not allow sub-letting and that is how we have managed to offer affordable shop and office space for our clients, Mr Mishra said at the 6th annual Association of Real Estate Agents Uganda (AREA Uganda) conference at Speke Resort Munyonyo. Both CMS and Speke Resort Munyonyo are subsidiary firms of Ruparelia Group of Companies, one of the main sponsors of the three days conference November 14th – 16th, 2018 that own several properties in Kampala.
Mr Mishra urged members of AREA Uganda, an umbrella organization of real estate agents, managers, organizations and other real estate professionals in Uganda, the third-largest economy in the East African Community, to join hand to fight middle men who may suffocate the real estates’ sector.
Mr Muzamiru Kwebiha, a member of Kampala Accaders (accade tenants in Kampala) however fixed Mr Mishar saying his firm cheats its tenants by charging rent in US$ dollars.
Mr Mishra dismissed claims of his firm’ mandatory charging rent in dollars saying its history.
Ms. Shirley Kongai, the president, AREA Uganda, applauded Mr Mishar saying his idea is part of the association’s main goal is to improve the real estate business in Uganda.
“We now have the Real Estate Institute of East Africa that continues to train our members to be professional in their businesses and also provide capacity building. We have been able to promote the introduction of undergraduate courses in real estate and the same have been embraced by Makerere Business School and Uganda Martyrs University as we continue to engage other institutions,” she said.
Adding, “Our association is an umbrella body of real estate agents and managers, real estate professionals and other organizations with interest in the real estate sector. It was formed to bring real estate agents and managers and others interested in the sector into one body to work collectively towards developing a professional real estate sector in Uganda.”