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Real Estate managers urge government not to block landlords from charging rent in dollars
''if as a landlord I am charging US dollar rental, and the tenants feel they can't afford it, they will go, and I will be forced to adjust accordingly'' Judy Rugasira the Managing Director of Knight Frank Uganda said.

The continued push by the government for the conversion of dollar denominate debt by property developers to shillings so as to stop charging tenants in dollars is bad for the industry according to property managers Knight Frank.

 

According to Judy Rugasira, the Managing Director of Knight Frank Uganda government has never been good at regulation and even lacks the mechanism to monitor these laws, Ms Rugasira also warned that if the government insists on forcing landlords to charge in Ugandan shillings, it would have an impact on the property market.

 

''if as a landlord I am charging US dollar rental, and the tenants feel they can't afford it, they will go, and I will be forced to adjust accordingly'' She said.

 

At the release of the 2017 real estate report by Knight Frank, it emerged that there is more optimism than the contraction of three years ago.

Growth in malls occupancy was modest, below 10% with the departure of Nakumatt which space though is expected to be filled sooner than later