Kenneth Gichoya, better known as Njoro from Citizen TV’s Papa Shirandula, is expressing his frustration over the financial burden of investing in rental properties.
During an interview with Dr. Kingori on NTV, Njoro candidly shared his story. He revealed that it was his mother who inspired him to purchase land and build rental houses as a means to generate additional income alongside his other engagements.
Although Njoro initially had his sights set on buying a high-end Mercedes Benz, his mother persuaded him to invest in real estate instead. Succumbing to her advice, he acquired several properties in various parts of Nairobi. The rental income from these investments proved valuable, especially after the untimely demise of Charles Bukeko, the main character of Papa Shirandula, which abruptly ended the show and diminished Njoro’s primary source of income.
Nevertheless, Njoro emphasized that collecting rent from tenants has not been an easy task. He lamented that assuming the role of a landlord has forced him to adopt a harsher demeanor to ensure timely payments.
Njoro recounted an incident where he resorted to welding a door shut while a non-paying tenant was still inside. This extreme measure was necessary because the tenant had evaded rent payment for six months and engaged in evasive tactics with Njoro. Despite the severity of his actions, Njoro felt no remorse, as he had invested a significant amount of money, which he believed should not be taken lightly.
The actor expressed his frustration at the circumstances, stating that being a landlord often compels him to be merciless towards tenants who occupy his properties for extended periods without paying rent. The stress and challenges of being a landlord stem from his expectations of a smooth and hassle-free return on investment.
Moreover, Njoro boldly asserted that investing in real estate is not a financially sound decision. He argued that it takes approximately ten years for a 10 million shilling investment in real estate to yield returns, a timeframe he perceives as excessively long. Njoro contended that real estate only becomes profitable when regarded as an inheritance for future generations. He believed that investing in properties primarily benefits his children, such as his son Njamba and his daughter Waithera, who will ultimately reap the benefits of the rental income, as they did not contribute to the initial investment.
In conclusion, Njoro’s experience as a landlord has compelled him to question the profitability of investing in rental properties. Despite initially following his mother’s advice, he now perceives real estate as a financial burden, prompting him to adopt a more ruthless approach towards tenants who fail to pay their dues. He argues that the prolonged period required to recoup investments in real estate makes it a less attractive option, except when viewed as a legacy for future generations.