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Frequently Asked Questions

Explore our frequently asked questions to learn more about buying, selling, and renting real estate in Zambia. Start thinking about the key factors to consider when beginning your property search to make informed decisions with Anchoridge Properties by your side.

Questions About Renting

You can browse our listings online or contact us directly for a curated selection of properties that fit your needs. Our agents are ready to assist with finding properties based on your budget and preferences incase some listings are not found on our site.

To begin your rental journey, the first step is to complete our Tenant Application Form, which provides the landlord with essential information about you. Along with the application form, you’ll need to submit the following documents:

  1. Proof of Identification: Passport or National Registration Card (NRC).
  2. Proof of Income: Recent payslips or bank statements.
  3. Proof of Employment: A letter from your employer or a valid employment contract.

These documents ensure that landlords can assess your suitability as a tenant and move the process forward smoothly.

A tenant application form is a document that helps us collect key details about the tenant, like their rental history and financial background. This form allows landlords to assess the tenant’s suitability and ensures a smooth leasing process, all delivered with the ‘A’ Team care.

Yes, as of January 1st, 2022, rental income is taxed under the Zambia Revenue Authority (ZRA)  turnover tax system at the following rates:

  1. 0% for gross rental income below ZMW 12,000 per year,
  2. 4% for gross rental income between ZMW 12,000 and ZMW 800,000 per year,
  3. 12.5% for gross rental income exceeding ZMW 800,000 per year.

The landlord is responsible for paying this tax.

Tenants are expected to pay rent on time, keep the property in good condition, and report any maintenance issues as mutually agreed in the lease agreement to the landlord or property manager.

A long term lease agreement generally lasts 12 months, but this can be negotiated depending on the landlord’s preferences as it can be renewed annually.

Yes, we can assist in negotiating lease renewals and ensuring all terms are clear and agreed upon by both parties.

Questions About Purchasing

Visit our website to view our current listings or contact our agents to get personalized property recommendations based on your budget and location preferences.

The process includes finding a property, making a written offer, conducting a valuation, signing a sale agreement, and registering the property with the Ministry of Lands. Anchoridge Properties will guide you through each step.

Yes, we highly recommend having legal representation to review the sale agreement and ensure proper due diligence is conducted before the transaction.

The associated costs of buying property in Zambia typically include the following:

  1. Property Transfer Tax: 5% of the property value (paid by the buyer).
  2. Registration Fee:1% of the property value (paid by the buyer).
  3. Legal Fees:2.5% to 5% of the property value (shared between buyer and seller depending on the agreement, though buyers typically pay a higher portion).

These costs are based on the value of the property being purchased and can vary depending on specific agreements between the buyer and seller.

 

 

 

 

 

Under the Zambian Lands Act, land can generally only be held by Zambian citizens. However, there are certain exceptions where non-Zambians are eligible to own land in Zambia:

  1. Permanent Residents: Non-Zambians who have permanent residency in Zambia can own land.
  2. Investors: A non-Zambian investor as defined under the Investment Act or other relevant investment promotion laws is eligible.
  3. Presidential Consent: Non-Zambians who have obtained written consent from the President of Zambia.
  4. Companies with Zambian Ownership: A company registered under the Companies Act, where less than 25% of the issued shares are owned by non-Zambians, may hold land.
  5. Statutory Corporations: Statutory corporations created by an Act of Parliament can own land.
  6. Non-profit Organizations: Non-profit, charitable, religious, educational, or philanthropic organizations registered under the Land (Perpetual Succession) Act and approved by the Minister.
  7. Inheritance: Non-Zambians can inherit land upon death or through a right of survivorship or legal transfer.
  8. National Parks Concession: Non-Zambians granted a concession or rights under the National Parks and Wildlife Act.
  9. Commercial Banks: Non-Zambian commercial banks registered under the Companies Act and the Banking and Financial Services Act are eligible.

Questions About Property Management

Yes, we offer comprehensive property management services, including tenant placement, rent collection, maintenance coordination, and regular property inspections.

Our fees vary depending on the property type and services required but typically range between 5-10% of the monthly rental income.

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