quicksand wrote:simonkabz wrote:http://www.standardmedia.co.ke/entertainment/m/?articleID=3688&story_title=is-theft-bhang-smoking-and-fighting-thriving-in-police-estate
Who owns this estate?
More importantly, why lease it to the government instead of milking the rent market where rents go up willy-nilly ....unless he got a deliciously inflated price for the lease? I hope he asked for his money upfront,...all of it
And how do 2 or three families share 1 apartment? Things that boggle the mind ...
And the houses will be totally run down, they will need one hell of a renovation project when the cops move out.
Unless the owner conned the government proper like everyone else does he would have been better off with civilian tenants. Spruce the place up, a ka park like this, nice security and clean environment then charge the highest possible rent. But this being Kenya, may be they were built so that the government can rent them for the police!
And why is the government renting? Doesn't it make more economic sense to build. Even if they don't have cash at hand they can get cheap internationally syndicated loans, get some Chinese companies to build all the apartments they need and ultimately save tax payers tonnes of money - long term.
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.