The sports category has moved to a new website.
ADVERTISEMENT

Why posting vacant houses could attract Sh1M fine

Many advertise the vacant houses on posters and sometimes on social media

A poster advertising a vacant house for rent in one of Nairobi's residential estates (Twitter)

The Estate Agents Registration Board (EARB) has proposed a Sh1 million fine for all real estate agents found to be operating without a license.

This means that anyone one found to be acting as a real estate agent by representing the seller or buyer of a property, without due registration through the Board, will have committed an offense under the amended Estate Agents Act.

Quacks are currently fined Sh20,000 for the offense with the board asserting that there are over 40,000 unregistered agents currently working in Kenya.

"The amendments are targeted at streamlining the industry by ensuring that real estate products are sold by professionals," EARB chair Nelly Mbugua explained.

ADVERTISEMENT

Proposed changes to Estate Agents Act

The proposed fines have been drafted in a Bill that is currently at the Attorney General's office.

Other changes added to the Bill include a minimum requirement of a Kenya Certificate of Secondary Examination (KCSE) for anyone seeking to join the profession.

In addition, the agents will be required to have a post-secondary certificate in real estate agency or a certificate in a related field recommended by the Board.

ADVERTISEMENT

Mbugua stated that the changes will go a long way in eliminating quacks in the industry that has 700,000 registered agents.

Lands CS Farida Karoney has also supported the changes to the law stating that it would empower the board to deliver its functions and to live up to society’s expectation.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Kalonzo speaks on Mudavadi’s prediction & what he admires in DP Gachagua

Kalonzo speaks on Mudavadi’s prediction & what he admires in DP Gachagua

Gachagua warms up to working with Kalonzo amid claims of threats & intimidation

Gachagua warms up to working with Kalonzo amid claims of threats & intimidation

CS Namwamba & MP John Kiarie booed off stage at different events [Videos]

CS Namwamba & MP John Kiarie booed off stage at different events [Videos]

Mudavadi: Rejecting Finance Bill 2024 is akin to removing the gov't from power

Mudavadi: Rejecting Finance Bill 2024 is akin to removing the gov't from power

Protestors release new 7-day plan to oppose the Finance Bill 2024

Protestors release new 7-day plan to oppose the Finance Bill 2024

Rex's mother painfully recalls how she found out her son had been killed

Rex's mother painfully recalls how she found out her son had been killed

IPOA takes action after death of Rex Masai during protest in Nairobi

IPOA takes action after death of Rex Masai during protest in Nairobi

8 stages all bills go through before assent by the President

8 stages all bills go through before assent by the President

Kenyans react after police allegedly shoot & kill a protestor in Nairobi CBD

Kenyans react after police allegedly shoot & kill a protestor in Nairobi CBD

ADVERTISEMENT