Kenya’s real estate is an overrated bubble waiting to blow.
Running a tenancy is hard enough since some clients are sent from hell.
How does one recoup their investments in the concrete and mortar jungle, when half of the highrise buildings are empty?
In 2019, I once passed by Mirage Towers, then the beautiful tri-towers, beautifully imposing near the Villa Rosa Kempinski Hotel in Westlands.
The 12-floor building had a myriad of tenants, notably the shared office spaces under the Nairobi Garage.
I stumbled upon a shocking list, well placed on the sides of the lifts, shaming tenants that had not paid their service fees.
“Service Charge Shamelist as at 30th June 2019” it screamed.
For me there were two wrongs, first, how could Bonham Management Limited do this to the building’s clients?
Secondly, how could the management of those companies mentioned fail to pay the service charge, some amounting to over a million shillings?
Was it expensive? – Karecha, the editor wonders.
Thirdly, where was the fallout that someone who had not paid for two quarters was listed with one who had not done so for over 15 quarters?
Nairobi is hard, I tell you.
Does Mirage Towers still do this shame list or have they stopped?
Three years later, I still wonder.
Have a lovely afternoon.
