5 THINGS TO DO BEFORE LEASING LAND.
Having some background information about something is very wise and strategical as this will guide you into making the right decision.First we start with understanding the term lease: This is basically a legal, binding contract outlining the terms under which one party agrees to rent property owned by another party. It allows the tenant to use the property and guarantees the property owner or landlord regular payments for a specified period in exchange. Leasing land in Kenya has become a norm lately because very many have started investing in their lands not necessarily meaning that they stay there but they buy land and setup business or lease it to someone for a given period of time it’s almost like renting. But their interest are always based on commercial interests. Below are 5 things that you should consider before striking a deal with someone or a company that wants to agree with you:
Do Reece
Look into the newspapers, internet and other publications among many others.
Have a Visible Written Agreement
This very agreement helps parties to go over and beyond the implied rights.
Consider Registering Your Lease Agreement
For Instance, if a landowner is declared bankrupt or dies, a registered lease may serve the purpose of recognizing and protecting the rights of the lessee when a trustee to the bankrupt person or administrators to the estate of the deceased lessor are appointed.
Do Some Research on the Area of Interest.
It is basically cracking the three questions that are: Who, Where and What.
Who in the sense that the one that offers you land, how well is he or she known have some background information about the person.
Where: Here it’s all about knowing the location that you want to lease land like is that the place that’s convenient for you, for instance, is it on the mountain, landscape, nearness to the river such like and on.
What: Here you get to answer the question what you want to set up on that particular land and the portion that you may have chosen already. Like If you may need it for commercial purposes or Agribusiness.
Create an Exit Plan
The exit plan provides a period immediately prior to disengagement with the lessor.Read: Top 10 Areas to Buy Most affordable land in Kenya