Frequently asked questions from buyers into Naretoi
IS THERE A RESIDENTS ASSOCIATION STRUCTURE FOR MANAGEMENT FEES ETC, WHAT WILL THESE BE?
Yes, all buyers become a member of the Naretoi Homeowners Association, and will have a say in the management of the estate, the structure of the management, and the fees.
The estate management/service charge fees are in the region of $600 per month and these cover our the management team, all maintenance on the roads, the solar fence, any wildlife related issues and security.
IS IT POSSIBLE TO LET OUT OUR SAFARI HOME TO VISITORS WANTING A SAFARI?
This is allowed for exclusive use, though subject to some restrictions. “Hotel” type use is not permitted. All occupants will be obliged to pay Enonkishu Conservation fees and adhere to the Home Owners’ Rules.
WHAT COMMON UTILITIES ARE THERE?
There is a deep borehole well now provided to supply fresh water to a central location for use by owners who want to ‘opt-in’ to the use of the piped water instead of water catchment off their roofs. The buyer will be required to pay for water piping from the nearest delivery point to their own footprint.
There are dams on the property, which have fish and owners are permitted to fish in the dams at their own risk.
There is also a tennis court, cricket pitch and popular sundowner areas.
There is also a private airstrip on the estate.
ARE THERE ANY ADDITIONAL COSTS INVOLVED IN OWNING A PROPERTY ON THE NARETOI ESTATE?
Yes, there is an annual conservation fee per home of $2,500. This goes towards preventing biodiversity loss, securing wildlife habitat and the protection of the surrounding community owned Enonkishu Conservancy and allows homeowners to do game drives, have sundowners and have traversing rights to Enonkishu, Ol Chorro and Lemek conservancies.
WHAT IS THE LAND OWNERSHIP / LONG TERM LEASE STRUCTURE?
Each buyer upon payment of the purchase price and signing of the sale agreement will be given a registered lease against the Head Title for the period of the lease, which is 99 years registered in 2015, renewable. The Lands Registry will issue/endorse an I.R (Inland Registry) number on the lease making that a legal title to the plot/footprint. Using this title document, one may borrow from banks, which will accept the registered lease as security. The endorsed lease will be proof of your title and should you wish to sell, the buyer will have their name(s) endorsed at the bottom of the same, therefore, effecting the change.
The buyer will also be issued a full share in Naretoi Ltd. There will only be one Class of shares in Naretoi.
CAN A NON-KENYAN BUY A FOOTPRINT?
Yes. The new Constitution only prohibits a foreigner from owning freehold land. Each homeowner will be issued a long-term lease of the balance of the 99 years of the Naretoi Lease which started in 2015.
WILL I HAVE A SAY IN MANAGING THE NARETOI ESTATE AS A MEMBER OF THE HOME OWNERS ASSOCIATION?
Yes. As a shareholder and in accordance with the Memorandum and Articles of Association, each member shall have the right to vote at meetings of the Home Owners’ Association. Each member will have the opportunity to stand for being a Board Member of the Home Owners’ Association and will have the right to vote in respect of certain management issues.
IF I WANT TO SELL MY PROPERTY, ARE THERE ANY RESTRICTIONS?
Each owner is free to sell their property as they wish. However, it should be noted that the Home Owners’ Rules will apply equally to all subsequent purchasers, who ought to be made aware of these rules prior to any such sale.