The landlords and agents are misbehaving because no institution is checking their activities. So everybody is on a cruise.

Shithole

vikiphy89:

Whats the total package of selfcon at egbeda

You'll have to contact an agent there, go to the location and Inspect the house yourself.
On the average, you can get a good self con for 250k total. Annual rent @150k. It can be more or less depending on location (proximity to the road, condition of the house, situation of power supply, history of the house, etc)

bukhety:

Sometimes the agent and agreement fee is more than the main house fee. A friend of mine once saw a boy's quarter that is 5k per month, making 60k per year and agent and commission fee is 70k, this was about 3 years ago o! I can only imagine now. It is well!

In fact am in a dilemma now
Cos I am dire looking for a house
A room and parlor
Preferably at Sango Ota
But the agents I met are making
Things difficult for me
Cos am not In a high paying jobs
He s demanding 70k extra
On a 80k / annum apartment

Donno really know what to do
Cos my families really needs it

vikiphy89:

Is that a selfcon, and is it a clean environment?

yeah it is a selfcon in abule egba side, ifako ijaiye

Bngf:
Hmmmm

I am a landlord and if we landlords share our experiences on how tenants frustrate us everyday and if atall it worth giving house up for rent in nigeria where you get lowest Return on investment

Same here. And to even talk about the cost of materials these days, it's crazy. They won't understand until it's their time to build theirs.

Calibrator:
I was given a jump on an apartment by the present tenant who is relocating. The tenant hasn't even notified the landlord of his intention to move out before I came into the picture. He then introduced me to the landlord and laid bare his relocation plans.


The landlord still collected agreement and commission from me.

Can u imagine

I read it and this be pure unadulterated, modern day, 21st century SLAVERY.

abbey621:
Bad tenants gave good tenants a bad name. The money, the sweat, the frustrations it takes to build and maintain a house no be joke, now add tenants who would wait 6 months or even a year or more to pay or not pay at all, the result is landlords not caring about your situation, the agents are the marketers, you can't reach heaven's(landlord) gate without them.

I'm afraid the situation will only get worse because the country has gone to shitz, I'm increasing rent by 20% this year just to keep up with inflation, you can thank Buhari and his goons!

I go increase by 50%

pocohantas:


This is crazy. If I have a BQ like that, I doubt I would rent it out o. Would use it as CSR for corps members or jobseekers.

Eya, so sweet. Awwn

bukhety:

Hi Poco,
Please, I sent you a pm. I would appreciate if you reply. I really need to discuss something with you.
Thanks.

Make una discuss am here. We wan hear the matter. We are bored AF

pocohantas:
Must we go through agents to rent/buy properties?

The ones in Lagos collect 10% of the rent. I have even heard of some that negotiated their charges and it was above 10%. Some of them inflate the cost of the property. Some rent one apartment out to multiple people. They charge inspection fees and the annoying part is that they sometimes end up taking you to an abysmal or totally different property.

Are there landlords here that rent out their properties without using agents? How has it been?

I'm currently going through this same issue. Since April I've been trying to get a mini flat between 350k to 400k and tho I've seen some, but the total package is just scary. You can see a house with annual rent of 350k and the total package is 650k or 700k,howwww?? I've checked not less than 20 houses in this lagos and all with different agents of which i must pay them inspection fee within 3-5k... These agents are just evil and even with all that money they make, they still look tattered and unkempt. Honestly I'm giving up on this house hunt thing cos both the agents and landlords are out to frustrate lives of people looking for a house

If there is one thing that Nigerians really need to blame on the government it is this housing crisis and high costs of accommodations in the country. By land use act, governments control all lands in the country, but they have failed to translate that effort into an affordable and decent housing scheme for all Nigerians. There are three basic needs of all humans: food, clothing and shelter. The first two can be sourced for within the limited resources of an average man that has a source of living, but the third need(shelter), though just as important as the first two, is a bit out of reach of most people. Giving to Nigerian problem of land fragmentation, government needs to step in and ensure that Nigerians have equal and equitable access to decent accomodationts in order to expedite the pace of economic growth. For instance, if people have access to a good accomodation, they can work at anywhere they like in the country to contribute to the nation economy. Accomodations should not be totally left in the hands of private individuals, especially those rag-tag and exploitative agents, given the impact it has on the economic development. Governments should take control of the housing sector and also put in place strict regulations to control the activities of the private real estate agents and owners. This is the aspect of the economy which I think governments have failed woefully, even worse than the youth unemployment. Nigeria is talking about producing aircrafts before 2023 but it cannot even ensure decent, modern and affordable aaccommodations for its citizens

Lagosfinder:
Bad agents are making it look like all agents are bad

All agents are fucking bad abeg!! They're all crooks thinking people pick money from the floor just because they are working class

pocohantas:


This is crazy. If I have a BQ like that, I doubt I would rent it out o. Would use it as CSR for corps members or jobseekers.

Giving out a part of ones property for free is never a good idea; if for instance you ask just 2 corpers to live there for free I guarantee you in 6 months there will be over 20 other squatters in that accommodation and they will mess up the place in addition to putting a strain on the facilities!

CheedyJ:

A friend of mine got one for 150k & agency and commission was also 100k..those guys dey cash out gaan

They're cashing out but the look dirty and tattered as Bleep! It's a sign that they money they are extorting from people will never do any good for them. They'll keep looking like shit till they die, that money won't save them, instead it'll kill both them and their family.. agents of doom

OdenKelechi:


They're cashing out but the look dirty and tattered as Bleep! It's a sign that they money they are extorting from people will never do any good for them. They'll keep looking like shit till they die, that money won't save them, instead it'll kill both them and their family.. agents of doom

Haba, I concur with the fact that they are extorting people but easy on d curse infact, there’s really no need for it..
Besides, how they choose their money is their wahala

wunmi590:

LOL. Same routine. Abeg where your wife dey work for Abeokuta? Mine is also in need if you get any link.

Just trying my luck.

For everyone reading this who has not built a house,I pray paying of rent wil be a thing of the past soonest in Jesus name.

Venom104:


LOL. Same routine. Abeg where your wife dey work for Abeokuta? Mine is also in need if you get any link.

Just trying my luck.

Lol, no link, infact if I have I wouldn't be in Lagos working....

There should be urgent intervention by the Government to tackle this issue, people are going through alot in Lagos just to have a roof over there head. Agent charge about 50% instead of 10% as stated on the agreement.

amrichy:
All of these things are just a reflection of how thoroughly corruption has eaten deep into our Nigerian society. Everyone is now using whatever power, opportunity, advantage or leverage he has to exploit anyone exploitable.
The corruption problem in Nigeria is solvable, but it requires some serious revolutionary actions to be taken.

best comment do far

Shellsploit:
Okearo is better!
No agent wahala, but be ready to swim inside mud 24/7

Matogun,legun,osere,maidan should be much more better,��

joyfullyjoyous:
For everyone reading this who has not built a house,I pray paying of rent wil be a thing of the past soonest in Jesus name.

Epeegee:


Matogun,legun,osere,maidan should be much more better,��

Those areas are even worst compared to okearo

As a property agent and real estate consultant, I have a slightly different take on the house-hunting process and I would like to share. Please enjoy

Favour Irabor, a 22-year old university student, lives with her mother and siblings in a church facility in Mushin, one of the most crowded areas of Lagos, Nigeria. The arrangement was only meant to last a few months, the time it would take to secure a more permanent apartment on Lagos mainland. But since they moved into the church in November 2019, their housing hunt has come up empty.

What they had thought would be a straightforward search instead led them down a rabbit hole of endless substandard and prohibitively expensive apartments. The family, who is under pressure to vacate the church facility for personal reasons, is nearing their wits’ end. Renting “in this part of Lagos is a means of exploitation, because I don’t understand why houses are very expensive,” Favour said.

Okay, I find this section weird for two reasons:
1. Why does this family have to live in Mushin?
2. What do they mean by rent there being exploitative and "very expensive?

One of our very first lessons in economics class is the correlation between demand, supply and cost. Things tend to cost higher when there demand outpaces supply.
If they cannot afford to pay the asking price they have two options:
1. Reduce the standard of accommodation they want
2. Extend their search to less desirous neighbourhoods. Not everybody is able to afford what they want.

Favour’s experience is not peculiar to her. Almost every house seeker in Lagos, the country’s economic capital where the cost of living is steeply rising, faces a glut of badly managed homes with prices that do not correlate with the conditions of the property.

“The excuse is that everything is now expensive, and that is the umbrella everyone is hiding under,” Moyinoluwa, 22, told Sahelien.com. Moyinoluwa works in an office at Lagos Island, the area of Lagos dominated by the city’s upper class and multinational business chains. She is currently looking to rent an apartment on the mainland due to the skyrocketing costs of housing and living.

Another wonderful set of paragraphs . Why?
1. Even the size of pure water has reduced in Lagos. Of course, everything is now expensive. It's not an excuse, it's a fact. Cement used to be ₦2500 a bag around April, now it's ₦4000, of course the price staring will be transferred to the final consumer. Asides the increase in the cost of cement, other goods and services have increased in price, it shouldn't be surprising that the cost of accommodation also increases.

Mutyhullahi Adesola, a trained real estate agent and a member of the National Institute of Estate Surveyors and Valuers (NIESV), blames the rising costs on Nigeria’s banking system. Most property owners rely on commercial loans with high interest rates to develop properties, pushing developers and landlords to charge tenants multiple years in advance.

“Banks give commercial rates for housing development, and if you take a commercial loan for developing a property, you cannot get your return until five to seven years. It is a long-term project for you to recoup your capital, and that is why some landlords take two to three years in advance. It should normally be monthly or every six months,” Adesola explained.

1. If a Nigerian bank, which is notoriously averse to disbursing loans has a penchant for financing property development that should tell you that the market for accommodation is a fertile and lucrative one(demand-and-supply again).
2. Asides loan repayment, the loaner also has to make some profit for his troubles, hence the high cost of property rent/lease. Please, understand this

The advance for many single rooms in tenement houses—where the kitchen and bathroom are shared by everyone—is usually between 80,000 and 100,000 naira ($205 to $256), and for self-contained apartments and flats, the prices are much higher. This pricing makes most apartments beyond the reach of people with average income residing in Lagos. Nigeria’s minimum wage is 30,000 naira ($73).

Okay, this is poor form. 80k - 100k in what areas? Are these rates standard across Lagos?

Moyinoluwa said she has seen the prices of the same apartments shoot up even one month after she began searching for an apartment.

This is a fact, again refer to the forces of demand and supply; they are called forces for a reason. This is simply the reality, and you really have no choice but to live with it, no pun intended.

Beyond the economic crisis of the country, at the base of the seemingly irreversible hike is an informal system of housing agents.

The agents have percolated the housing ecosystem and made themselves inevitable middlemen between house seekers and property owners.

Erm, another bad faith argument. The agents are inevitable because they solve a problem which is searching and identifying vacant apartments.
You have no idea how difficult it is to find vacant houses. Most agents simply walk(trek) from street to street under the sun looking for vacant apartments for rent. This is extremely hard physical work. If a would be renter is willing to go to this trouble, they are more than welcome to do so, it isn't illegal and they would face no resistance from these percolating agents . Good luck though.

Lagos is the commercial capital of Nigeria and home to an ever-burgeoning population of 20 million people. It is the densest state in Nigeria with a territorial land area of 351,861 hectares, making it the smallest state by size, yet the most populated in the country.

Since 2015, Nigeria’s economy has been in continuous decline featuring two economic recessions and a badly managed pandemic fallout. The crisis has a particularly crippling effect on city-dwellers grappling with an 18.7 percent inflation rate, which reflects in the costs of renting an apartment.

Again, the economic rule of scarcity driving up prices. Nothing to see here.

Getting a house typically involves an agent who has knowledge of available apartments in a particular location. An agent’s consultation fee for taking a house seeker to see a house ranges from 3,000 naira ($7.69) to 10,000 naira ($25.64) and could be higher in other areas like the Island. This fee is non-refundable, regardless of the conditions of the houses. And, according to Favour, there are other miscellaneous costs like fare and tips that a house seeker pays to an agent for their service.

I'm a little conflicted on this. I never charge consultation fees when taking clients out on a home tour/inspection, but the problem is the tendency for clients to also take advantage of that by entertaining themselves house-shopping at your expense (time mainly).
Usually, I send a picture of properties at my disposal and if you like any, the inspection is likely a mere formality and more of a confirmation that what I have showed you is truly available and I the condition I have claimed. If you don't fancy any, you simply move to some other agent.

Moyinoluwa argued that the agents are also responsible for the hike and the problems house-seekers face. “I think majority of our frustration comes from the agent and their insincerity,” Moyinoluwa said. “They know it is almost impossible to get a house without them, that is why they act like mini-gods.”

Yes, there are lot of unscrupulous agents. It is a difficult job and a lot of agents lie to clients and cut corners. But, it's laughable to think an agent has any influence on the cost of a house or apartment. If nothing, we want it cheaper so it's easily afforded. The more expensive accommodation is, the less likely we are to find renters/buyers, hence, the less commissions we make.

Favour’s experience with agents has been unsavory, too. “I cannot count the number of agents that have helped us look for a house and it did not work out,” she said.

The budget and taste likely don't match. Most people want a Benz for the price of a Toyota. Not going to happen.

She met another one in January this year through a referral. After a tour of houses that did not meet her taste, he introduced her to his family house. A tenant would be moving out, but they needed some money to help her secure another apartment, the agent told her.

Favour agreed to pay 100,000 naira ($256.41) to the agent up front as part of the rent. Then weeks morphed into months, and the tenant did not move out of the apartment. Despite feeling assured that their frustrating search had ended, a tiny knot of anxiety began to grow in Favour. By April, the agent could not be traced and he had blocked both Favour and her mother from calling his line.

Well, all professions do have them. There are quack doctors and charge-and-bil lawyers too. As a rule of thumb, never trust a Nigerian with money even a pastor. I find it difficult to believe that this happened in 2021, but desertion has a way of making us do foolish things.

In May, Favour contacted someone who is in the military to threaten the agent. That, combined with the threat of media exposure, forced the agent to finally return her money.

Smh

Adesola believes the proliferation of untrained and unprofessional agents is a consequence of NIESV’s laxity in enforcing its regulations and the inability of its members to penetrate every location.

With regards to untrained informal agents, “the problem is part of a larger problem,” he told Sahelien.com. “They are not registered with the institute and not trained. But the attitude of let them be, let them enjoy their life—it is not only you in the country that leads to what we have now,” he added.

The institute says on its website that membership is “open to all Nigerians, and in certain cases to foreigners, who have obtained training in estate surveying and valuation and in the broad field of estate management at approved institutions both within and outside the country.”

Membership is based on academic qualifications and is voluntary, so unqualified agents are at large exploiting house seekers and are not bound by the institute’s regulations. In the bid to reform, NSIEV streamlined the agents into an affiliate association called Association of Estate Agents in Nigeria (AEAN).

The affiliation has not had any effect on the informal agency sector as AEAN only records “150+ Certified Agents” and “400+ Registered Agents” nationwide when there are hundreds of informal agents in Lagos alone. There are no regulations guiding the work of the agents, who work in an informal ecosystem.

This definitely needs to be regulated and standardized. Too many clowns muddying the profession.

Upon agreeing to take an apartment, an agent then demands their own commission which could be between 50,000 naira to 250,000 naira ($128.2 to $641) depending on the location and type of apartment. Landlords also work with agents to inflate the agent’s commission, so they can rent the apartment to their customers according to Moyinoluwa.

There is actually a standard rate for commissions which is 10% if the sale/rent is below ₦1m, and 5% if above ₦1m. Many agents hardly follow this because the public isn't aware. However, agents are also at liberty to set their own rates (before commencing on a search) if they feel the assignment is more difficult than the average brief, and it's left to the client to accept the agent's terms or not

"You don’t know who is saying the truth and who is not. Some landlords also take part of the agency fee, the agents tell you it is not for them alone. It is a dirty game,” Moyinoluwa said. Favour reiterated this claim too. “Agent would exploit you and the landlords would exploit you,” she said.

1. Of course, it's a dirty game. We're Nigerians na. Even the houses of God have been sullied. Shine your eye is not and idle phrase. Even clients will go behind your back and meet secretly with landlords after you take them for inspection. Even clients will exploit you.
2. I, personally have never had a landlord ask for a penny from my earned commissions so I wouldn't put any stock in this claim.

seunt4ut:



Don’t say that again. All Lagos property agents are criminals. They are so rude And dubious. They are only after your money.

I beg to differ sir. I am not a criminal, neither am I rude nor dubious.

Bngf:
Hmmmm

I am a landlord and if we landlords share our experiences on how tenants frustrate us everyday and if at all it worth giving house up for rent in nigeria where you get lowest Return on investment

Lol. I think many people are not being realistic with their demands. You want to live in Mushin but not pay Mushin rent. How?

SWDude:


Same here. And to even talk about the cost of materials these days, it's crazy. They won't understand until it's their time to build theirs.

Exactly, I'm an agents and also supply building materials and I know how sharply the cost of these things increased within the last 3 months that even getting customers was war

kriss27:
This is wickedness ! Which inflation? You are part of the the problem. House that has been built since! If the house was not in Lagos, I don’t think you would think of increment cause no one will pay!

If you pray to start a business and fail then I accept your judgment otherwise you're just ignorant. If you spent 40 million to build a house and only recoup 1.8 million per year, how long does it take to break even? How long does it take to make profit?

kriss27:
This is wickedness ! Which inflation? You are part of the the problem. House that has been built since! If the house was not in Lagos, I don’t think you would think of increment cause no one will pay!

Are you kidding me? Isn't there inflation in Nigeria? Why should the COST of accommodation not be raised like other items available for purchase and payment? Is the US wicked because you require more naira to afford just one dollar? Make una dey try dey considerate abeg

lexy2014:


In Lagos, even if u don't go thru agent, some landlord will still want to collect agency fee

10000% true.. And i have witnessed it, my brother rented house DIRECTLY from the landlord and baba still collect agent and agreement fee. I weak for those criminal agent and i wonder why the governor is not looking into this rot in the housing sector.
What is the money for form used for?
Still you will be the one to pay for their transportation
And they will still collect 50,80 or N100k
For what nah? Which work did they do?