– Michael Munene has 28 rental houses (each KSh 3,000 monthly) that rake in KSh 84,000 monthly
– The investor would have raked in KSh 336,000 in four months if he had decided to charge his clients
– Apart from rent waiver, he has also been giving food to some of his clients who have been hardest hit by tough economic times caused by COVID-19
A property owner from Nyandarua county has once again warmed the hearts of many Kenyans after he extended rent waiver for his tenants.
Michael Munene had in April 2020, after the first case of COVID-19 was reported in the country, asked his clients not to pay rent for three months (May, June and July).
This gesture, Munene said, was aimed at cushioning his tenants from the tough economic times caused by the global pandemic.
Even before expiry of the offer, Munene has announced that he has extended the period by another month; meaning his tenants will not pay rent for the month of August.
According to him, most of his customers are small traders whose businesses have taken a serious beating from the global economic downturn.
Others, he disclosed, were private school teachers who have not been paid for three months now following closure of learning institutions.
“Most of them have small businesses and since the pandemic hit us, they have really had it rough. Others are privates school teachers.
They have not seen payment for months now. They will not pay August rent,” said Munene.
When Munene first announced rent waiver for his tenants, President Uhuru Kenyatta had also asked property owners to be understanding and not evict clients over rent arrears.
Section of estate owners reduced rent by some fraction while others insisted on full payment even after clients requested for a waiver.
“We appreciate you for been a good tenant so far and we are sorry for the economic freeze due to the COVID-19.
We are sorry at the moment we are not in any plan as requested,” read a reply from Mongoose Properties after a tenant residing in one of its apartments in Kinoo, Kiambu county requested for a waiver following a pay cut.
In other parts of the country, things have been normal as tenants struggle to meet their rents even in this economic constraint period.
Other landlords have also been on the spot for evicting tenants while others have removed roofs and doors from houses where clients have been unable to service rent.
Munene has 28 rental houses (each KSh 3,000 monthly) that rake in KSh 84,000 monthly.
The investor would have raked in KSh 336,000 in four months if he had decided to charge his clients.
He also has six business rooms that he charges KSh 5,000 monthly. They give him KSh 30,000 every month.
READ THE ORIGINAL ARTICLE ON TUKO.CO.KE