Good evening all.

Please my husband wants to covert some of the rooms in our hose to self con and rent it out.

We have just 1 tank of 3k litres. Bringing in tenants means we have to buy another tank but we don't have enough money for the renovations and the extra tank.

We either renovate, and rent out without connecting water. Tenants will have to fetch using the backyard tap. In that case rent will be 120.

Or we get a loan and buy a tank and connect. Then rent will be 180k.


What do we do?

N/B. my husband wants to collect the rent monthly and not yearly.

Don't collect loan ...
Rent your normal 120 k....
Do the plumbing for water.... Down...
Charge your 120k...
Once they pay, you use it to buy tank and connect water.....
Next rent make it to be 150 max... Then you explain that "Because of the water running that's why the increment"...
In the event they refuse, then they pack out and you give the incoming tenant 180k...

Don't borrow loan for building or house renovation....

Puss360:
Don't collect loan ...
Rent your normal 120 k....
Do the plumbing for water.... Down...
Charge your 120k...
Once they pay, you use it to buy tank and connect water.....
Next rent make it to be 150 max... Then you explain that "Because of the water running that's why the increment"...
In the event they refuse, then they pack out and you give the incoming tenant 180k...

Don't borrow loan for building or house renovation....

Nigerians will always be afraid of loans. Y

Peledonomy:



Nigerians will always be afraid of loans. Y

Interest rate is very high... And most abi all of us don't like paying back...

Did you know??




In Mauritius, the President, Vice President and Speaker were all women from 2015-2017.

Mauritius is Africa’s most developed, peaceful and happiest country with 100% electricity access, free education, free healthcare and free transport for students, old people and the disabled.

Versitee:
Good evening all.

Please my husband wants to covert some of the rooms in our hose to self con and rent it out.

We have just 1 tank of 3k litres. Bringing in tenants means we have to buy another tank but we don't have enough money for the renovations and the extra tank.

We either renovate, and rent out without connecting water. Tenants will have to fetch using the backyard tap. In that case rent will be 120.

Or we get a loan and buy a tank and connect. Then rent will be 180k.


What do we do?

N/B. my husband wants to collect the rent monthly and not yearly.

Get a loan and do the right thing.

You don't need to borrow any money. Rent out the house for the normal 180k. Tell the tenants that they will be parking in in a months time after the renovations and use their money to buy the tank and other renovations.

Collect monthly rent??

How feasible is that in this economy

To collect the first rent would not be a problem, the subsequent months nine fit get key leg

Water rushing in your kitchen and toilet is very important. Someone will pay any amount because of constant water and light

.

Don't place your house for rent.

Borrow loan and do a good job that won't be needing expensive mtce soon.

Avoid frequent interfaces with tenant. That monthly rent is a no-no.

Olori ebi nko

Peledonomy:



Nigerians will always be afraid of loans. Y

Loan is a no no for me

Versitee:
Good evening all.

Please my husband wants to covert some of the rooms in our hose to self con and rent it out.

We have just 1 tank of 3k litres. Bringing in tenants means we have to buy another tank but we don't have enough money for the renovations and the extra tank.

We either renovate, and rent out without connecting water. Tenants will have to fetch using the backyard tap. In that case rent will be 120.

Or we get a loan and buy a tank and connect. Then rent will be 180k.


What do we do?

N/B. my husband wants to collect the rent monthly and not yearly.

Why does he want to collect monthly rent instead of the conventional yearly rents?

Damnnn niggar

Make use of what's available, then gradually do the renovations as you get paid for rents. Btw you can always increase rent every 3years. Loan is a no go area due to high interest rate except you can try a microfinance bank

WiszyFraud:
Did you know??




In Mauritius, the President, Vice President and Speaker were all women from 2015-2017.

Mauritius is Africa’s most developed, peaceful and happiest country with 100% electricity access, free education, free healthcare and free transport for students, old people and the disabled.

Muslims extremists will rather burn down the country

Hungry Agbadorians plenty on Nairaland

Don't collect loan. Just connect the water wen the person paid. buy tank for him/her before he/she move in. That was what my landlord did to me as I'm the only tenant. I accepted to pay because I saw the sincerity, conviction in him. If not, I won't pay.

So ask yourself if you are sincere enough to fix the tank once the person pay. To avoid case shld in case the person na wahala person. No be everything be quit notice o..

It all about sincerity,

Get the rent from the proposed tenants, then use the money to fix the house but you must keep to the agreed time frame

Peledonomy:



Nigerians will always be afraid of loans. Y

No sensible and right thinking human being would like to take loans, but na condition make crayfish bend

It depends on how much the repairs would cost. If it's less than the house rent, take a loan and do the renovations. Afterwards, pay back the loan with the rent.

Peledonomy:



Nigerians will always be afraid of loans. Y

Baba interest rate is very high oo. I wanted to borrow just 200k from a microfinance bank and I was told to pay back 300k in space of 6 months, do the maths, that is 50% interest so taking loan is not a very wise decision.

Abi na only me do mtfe for this nairaland. How come no body talk about am

WiszyFraud:
Did you know??




In Mauritius, the President, Vice President and Speaker were all women from 2015-2017.

Mauritius is Africa’s most developed, peaceful and happiest cou

wittywriter post=125171151:

ntry with 100% electricity access, free education, free healthcare and free transport for students, old people and the disabled.

Do what you can afford @OP.

Wittyness

Versitee:
Good evening all. Please my husband wants to covert some of the rooms in our hose to self con and rent it out.
We have just 1 tank of 3k litres. Bringing in tenants means we have to buy another tank but we don't have enough money for the renovations and the extra tank.
We either renovate, and rent out without connecting water. Tenants will have to fetch using the backyard tap. In that case rent will be 120.
Or we get a loan and buy a tank and connect. Then rent will be 180k. What do we do? N/B. my husband wants to collect the rent monthly and not yearly.

Get a loan to help you do tye renovating and everything else you need then.

Madam, I think you're trying to worry about a problem that doesn't exist.

If you can renovate the house as you've said, why not rent it out and then use part of the money to buy another tank?

I come in peace ✌️

Versitee:
Good evening all.

Please my husband wants to covert some of the rooms in our hose to self con and rent it out.

We have just 1 tank of 3k litres. Bringing in tenants means we have to buy another tank but we don't have enough money for the renovations and the extra tank.

We either renovate, and rent out without connecting water. Tenants will have to fetch using the backyard tap. In that case rent will be 120.

Or we get a loan and buy a tank and connect. Then rent will be 180k.


What do we do?

N/B. my husband wants to collect the rent monthly and not yearly.

a