Dear Nairalanders!
I don't know if a topic like this has been created previously but I must say that I have been pushed to posting this due to what I'm experiencing at the moment.
I currently stay in a two(2) bedroom apartment in Akowonjo, Lagos State. I paid N170,000.00PA(2 year-rent) to secure it in 2009 while my rent was to expire in Nov 2011..
However, in July 2011, my Landlady informed me of her resolution to increase my rent to N200,000.00PA(to cover 2011/2012) an amount which I had to pay even after much plea.
I'm now surprised when she sent another letter of increment for the sum of N250,000.00PA(to cover 2012/2013) a condition which I find absord.
Meanwhile, I have consulted some Co-Tenants who also have a fare share of what I'm passing through & their opinion is that I should pay her the old rate of N200,000.00 and wait for court action.
What do you think about this and how often does not Landlord increase your house rent?.

Awaiting responses.

Most Landlords are just too greedy! Anyway, why not approach her and see if she could wait till next year before the increment or at least to reduce it.

Still waiting for contribution.

Is the property managed by the landlord herself or she's being advised by a professional (i.e estate surveyor) or managing agent? While I await your response, it is not unusual for rent to be frozen over a 2-year period, at the expiration of which a rent review is done with a view to either reviewing the rent upwards, downwards or not at all. But again rent review isn't done arbitrarily, but subject to the conduct of neighborhood market survey to determine the going rates for similar properties in the neighborhood. Hence my question. I will also well add, that both parties can meet themselves halfway at the negotiation table and agree on a rate for the term.

T

azpekuliar: Is the property managed by the landlord herself or she's being advised by a professional (i.e estate surveyor) or managing agent? While I await your response, it is not unusual for rent to be frozen over a 2-year period, at the expiration of which a rent review is done with a view to either reviewing the rent upwards, downwards or not at all. But again rent review isn't done arbitrarily, but subject to the conduct of neighborhood market survey to determine the going rates for similar properties in the neighborhood. Hence my question. I will also well add, that both parties can meet themselves halfway at the negotiation table and agree on a rate for the term.

Thanks!
She has a Caretaker(though not a Professional) but she is the one in total control.
Rent for a 2 bedroom flat in the neighbourhood ranges between 200-250k but the big question is " Is it proper to treat existing tenants the same way as a new Tenant based on the going rate of a property and considering the fact that the rent was reviewed upward last year?".

oluseg2: T
Thanks!
She has a Caretaker(though not a Professional) but she is the one in total control.
Rent for a 2 bedroom flat in the neighbourhood ranges between 200-250k but the big question is " Is it proper to treat existing tenants the same way as a new Tenant based on the going rate of a property and considering the fact that the rent was reviewed upward last year?".

If the rent was only reviewed last year, then you have a right to feel aggrieved that she's already angling for an increase 1 year after. A 2-year rent freeze is just fair.

The rates for fresh lettings are often used as yard stick to review the rates for sitting/existing tenants, and are usually higher. The rates for sitting tenants are pegged say between 15 to 20% less than what new tenants can expect to pay for obvious reasons.

I assume the survey you conducted are for new lettings. In negotiating your rent this time, demand for a 2-year term payable annually (not 2 years rent in advance ooo) that way you 'lock-in' the rent over a 2-year term. Correspondence ought to be documented, for instance a formal offer letter should be sent to you, which can form a basis for negotiating. But as a care-taker is in charge, well

Cheers.

Thanks!
But I meant to say "she(The Landlady is in total control).
I have really picked some points from your advise and will definately make use of them.
I appreciate.

Still awaiting contribution from other Nairalanders.
Thanks.

Still waiting.

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