"We even let the buyers occupy the apartments any time they desire before completing payment," says Onywera.
Rattray says the mode of payment has several advantages to both parties.
"It is quicker than the bank process and gives developers time to continue working as the new owner moves in," she says.
She argues that it is a humane way of doing business, adding that it forms a future marketing strategy.
The mode of payment, however, has its disadvantages.
"Instalments may not be pegged on inflation rates, like mortgages, but could be higher due to the short payment period," Onywera says.
He says it could be costly on both parties should the buyer default on payment as agreed in writing.
"There is also an element of risk involved due to necessity of trust from both parties," Onywera says.
In Kisumu, Jadali Properties welcomes alternative modes of payment for its maisonettes at Kajulu Gardens.
Jadali Properties managing director Prof Walter Jaoko says many of their buyers prefer to pay a higher amount in cash as down payment.
The company has embraced mutual agreements for its development at Konya Hill Top in Mamboleo, Kisumu.