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FREQUENTLY ASKED QUESTIONS

  • URITHI Housing is a cooperative society owned entirely by shareholders with a mission to improve the quality of lives of its members by providing decent housing and settlement solutions.
  • It is registered under the Ministry of Industrialization and Enterprise Development – (CS / 14724).
  • URITHI Premier SACCO provides funding to the members to achieve their objective as enshrined in the UHCSL mission and vision.
  • Both UHCSL and UPS are registered by the Ministry with certificate numbers CS /14724 and CS / 18349 respectively.
  • UHCSL has over 24,000 members while UPS has over 8,000 members from different socio-economic set ups and geographical regions.
  • UHCSL and UPS has created direct employment for over 350 staff spread out in over 20 branches countrywide!
  • UHCSL has undertaken over 120 projects in the last 5 years having completed about 40% of them and issued over 6000 title deeds.
  • UHCSL has overseen the implementation of different housing concepts namely; OAR (Own A Room), Nyumba Mia, Gem and Low cost apartments. The houses are at different stages of completion.
  • UHCSL endevours to provide diversified and differentiated products creating a niche in the real estate industry eg The Hilltop Resort in Nakuru and Maragua Aquaculture project in Maragua.
  • UHCSL concepts are tailored to cater for different economic cadre.

(i). URITHI gives Property at Cost.

URITHI is owned by and operates to the benefits of its shareholders and therefore does not sell properties to attract profits, rather it gives at cost.

(ii). First come – First served basis
URITHI Members are allocated property on First come – First served basis. This means there’s is no balloting hence ensuring equity. Members operate at different timelines based on the project and the time of subscription to a project.
Each project is independent from the other,based on its dynamics.

(iii). Payment by Instalments.
This allows the members to plan their finances and pay at the agreed pace within the project timelines. Alternatively, members access financing through URITHI Premier Sacco which allows them to pay over a longer period of time.

(iv). Phase By Phase Basis.
This means project independence and autonomy. Members operate at different timelines based on the project and the time of subscription to a project.
Each project is independent from the other,based on its dynamics such as
price,location,size, type of project i.e land or housing.

(v). Production of documents is in real time basis.
URITHI has taken upon itself an obligation to ensure that members get all documents in reasonable time. It is worth noting that;
(i) Different projects mature at different times as timelines vary.
(ii) Success and completion of any project, much depends on members cooperation in honoring payments and submission of documents.
(iii)Geographical location of projects will determine the speed at which documents like Title Deeds, Leases etc. can be processed depending on the host county.

Co-operative Societies are registered under the Ministry of Industrialization and Enterprise Development, in the directorate of Cooperative Development. In Kenya, most common Cooperatives are either Agricultural, SACCO (Savings & Credit) or Housing Cooperatives. SACCOS have two modes of operation namely; BOSA and FOSA.

BOSA

Under BOSA (Back Office Service Activity) one must register and buy minimum shares to access credit services.
– The members have non-withdrawable deposits in form of savings and can only access their deposits through a 60-day withdrawal notice.
– Only savings can be withdrawn. Shares are not – withdrawable but transferable.
– A member has to save for at least 6 months and can get a loan upto 3 times their savings,get guarantors whose savings are sufficient to guarantee the loan, all depending on the particular Cooperative by-laws.
– BOSA are registered and regulated by the Ministry and returns submitted to the commissioner.
Therefore, BOSAs are not deposit-taking but promotes the culture of saving money, later given out as loans to members.

FOSA

FOSA (Front Office Service Activity) is where a SACCO deals with both her members and also the public.
– One opens an account which gives them access to basic banking services e.g withdrawals and deposits.
– One need not be a member to access credit facilities.
– FOSAs are registered under the Ministry and are Regulated by SASRA (SACCO Societies Regulatory Authority).
– Other services offered by FOSA are but not limited to:
(a) Savings, ATM services, Standing Orders, Mobile money transactions, short term advance, salary processing, etc
– Example of FOSAs are Metropolitan National SACCO, Safaricom SACCO, Harambee SACCO etc.

URITHI Premier SACCO fully operates as BOSA only dealing with members.
URITHI Housing Cooperative is not a SACCO but a real estate cooperative.

(a) Issuance Of Title Deeds In a Project

– Delay in members to clear payments as per the respective agreements. Default by members adversely affects the completion of a project hence causing delay in transfer,conveyancing,title processing.
– Change in government regulations may affect the titling process – Closure of the registries for automation, audit and clean up.
– Delays in change of user approvals,NEMA approvals and county council approvals.
– Type of the title eg Lease,freehold,cadastral and debentures.
– Other factors beyond control like death of the vendor leading to succession, hence the delay.

(b) Completion of Houses

– Our Housing projects are entirely financed by members through poolingof resources hence benefiting from
economies of scale where the price of a unit comprises of land costs, construction costs, approvals, change of use,
supervision and mobilization costs. Any delays in honoring the agreed payment plans by the member/client
adversely affect the project completion.
– Delays in the approvals by the county government
– Delay in getting clearance from other government bodies like NEMA, NCA etc
– Delays by contractors to keep up with the work schedules.

• Gives members property at cost.
• Members are allocated on first come first served basis. No balloting.
• Allows members to pay in flexible installments.
• Guarantees members to get financing at URITHI Premier SACCO without necessarily the need for any additional security or guarantor
• Gives security of investment where you buy a physically identifiable property.
• Caters for member diverse needs by giving several projects at various geographical locations.
• We provide a platform for investments that offer value for future generations.
• We promote value addition on land investments such as Agribusiness,infrastucture and aquaculture.
• We operate as a corporate in a cooperative environment.
• We provide free investment education and timely advice.
• Project indepedence promoting risk distribution.

Can I change the design of my housing unit?
• No major external variation is permitted. However, customization of the interiors may be acceptable but through our team of
consortium and the extra cost will borne by the client/member.

Can you build a house for me in my private land?
In line with the ‘Co-operative spirit’, URITHI encourages collective buying of land and construction of houses, however, we do have a team of
contractors, engineers and surveyors, to whom we can refer you.

Who manages the completed housing estate?
Owners of the respective estates (such as OAR, Nyumba Mia, Gem) are encouraged to appoint a committee to oversee the management of the estate
and establish the by-laws.

No major external variation is permitted. However, customization of the interiors may be acceptable but through our team of consortium and the extra cost will borne by the client/member.

In line with the ‘Co-operative spirit’, URITHI encourages collective buying of land and construction of houses, however, we do have a team of contractors, engineers and surveyors, to whom we can refer you.

Owners of the respective estates (such as OAR, Nyumba Mia, Gem) are encouraged to appoint a committee to oversee the management of the estate
and establish the by-laws.

• Yes. Through URITHI Premier SACCO, members can access loans to begin their home ownership journey. However they will be required to save 1/3 of the required loan amount, at least 3 months prior.
• If a member is buying property from UHCSL, they will not be required to have any additional security or guarantor.
The loan is processed immediately upon appraisal and availed to UHCSL to settle the member’s account.

This depends on a number of things. i.e. the length of the project, the type of title deed and government processes.

• A member who has attained full registration ( Membership fee + Minimum shareholding).

 

• An ownership certificate is issued when a member has completed payments for a property awaiting processing of the legal documents.
• A share certificate on the other hand is issued once a member has bought the prerequisite share amount.
• Both documents are legally binding and are recognized by the Co-operative.
• Both can be used as security for a loan from the URITHI Premier SACCO.

 

• To give our members product diversity and cater for different tastes and differences.
• Each project is indepedent with different timelines, demands and dynamics therefore one project performance is not affected by another.
• Sustainance and growth of the cooperative can not be pegged on one project. i.e. salaries, operations, rent, dividends etc.