3 months salary pays the rent

Was given the option of an appartment in town which be be about 6 months salary

I jejely declined

When nor be say na landlord I come town to hustle for

Make God make all of us house owners on day by His grace




#copied

It’s a personal thing. For me Otis one month salary maximum.

Oyindamolah:
Okay, salary 100k house 150k
Job location, Victoria Island.
House location, Sangotedo, Awoyaya.

Transportation 2k daily=52k

House at igbo efon, agungi, osapa, ilasan, ologolo and chisco 500-600k
Transport N600 =15k

I don't know but please if you pass mathematics in school you can help

i think accomodation and transport expenses should not exceed 40% of the total annual income

6ixVille:
Planning to get an apartment close to my work and im planning to use to my 3months salary for rent. Is this advisable and economical?

2 months max

6ixVille:
My one month salary for rent can't get me a decent place

2 month salary max for rent.

Living where your salary can afford. Live within your means.

6ixVille:
Planning to get an apartment close to my work and im planning to use to my 3months salary for rent. Is this advisable and economical?

Whether advisable or economical is not the question. Abi you wan live for outside?

I believe the house is self contained or atmost 1 or 2 bedroom.

Just get it and double your hustle.

You don't need face me, I slap you for peace of mind sake.

Two months maximum three anything more u working for ur landlord

Queengee:



1month salary is ok my personal view though

You didn't even ask how much is 1 month salary. Can #30 000 rent a house?
Dey play.

RepoMan007:
1.5 months. E get why.

This should be the max and you should try and avoid it if you can.

8 months

Queengee:
1month salary is ok my personal view though

You say

Two months, at most 2 and half. Anything beyond this ceiling, you are living beyond your income because when factor other expenses such as school fees etc, you see your income is below your expenses.

VeryWickedGoat:


So your annual salary if the full rent.

I look forward to your advise me vs landlord thread in the romance section next year.

Propertystore:



We worry so much about rent and forget transport costs a lot of times

bro as in eh
people no dey consider transportation those people commenting na lagosian ooo

it well

To me , maximum of two months.

6ixVille:
Planning to get an apartment close to my work and im planning to use to my 3months salary for rent. Is this advisable and economical?

Not so easy to tell but keep this in mind salary might not increase and inflation will depreciate whatever increase that might come but that rent will keep increasing. So best advice is to start with as little as you can out of your salary while putting in mind other factors such as comfort, distance from other important places like work, security and the general environment.

All the best.

6ixVille:
Planning to get an apartment close to my work and im planning to use to my 3months salary for rent. Is this advisable and economical?

If your 3 months salary can't pay your rent, you are living in the wrong house.

If your 2months pay can't settle your rent..pls leave the job

6ixVille:
Planning to get an apartment close to my work and im planning to use to my 3months salary for rent. Is this advisable and economical?

It's up to you really, financial advisers say no more than 3months but consider your priorities:
Commute to work, environment, how much disposable income you have, extra earnings and quality of life.
Before I bought my house, I rented with equivalent of 4months salary. I could get something similar for half the price but my priorities were quality of life, environment and commute.

6ixVille:
Planning to get an apartment close to my work and im planning to use to my 3months salary for rent. Is this advisable and economical?

I advised you to look for an accommodation that Ur two months salary can cover considering the fact that some other expenses will still pop up. Like mine,I used 62.5% of my 2 months salary n am good. All d best

Nigeria is so unkind to its citizens in all ramifications and it breaks my heart.

Where I'm writing from, all you need to move into a new apartment is just a month rent payment .At the beginning of subsequent months, you pay again and it goes that way.

Some apartments owner may request for a contract of six months upfront payment(especially the serviced apartments)and that comes with some perks and privileges. This is also optional.

The kinds of cruel people in the leadership structure of Nigeria is mind boggling.

Salaries are paid once in a month. Why should shylock landlords request for a year-long up front payment without a legislation to protect the citizens.

If your 2months salary can not pay your House rent, kindly no that you dont belong to that place.

Six Months Salary Is Ok

Hezzyluv:
Anything away from my 2months salary to settle my rent, count me out! The house rent no be my mate.

I even try to make things (house rent payment) easier for myself. I divid the total amount by 365 and make sure my palmpay save each day's amount in the luck. Then they would even give me interest after one year.

You come dey make to pay rent hungry person!!
If I was still paying rent, I would have adopted this your style ohh!

6ixVille:
Planning to get an apartment close to my work and im planning to use to my 3months salary for rent. Is this advisable and economical?

Hmmm... Look at how you check it.

If you stay farther away where you will use your one month or two months to pay rent. How much will you expend on transport and other amenities like water.

If your coming close to your work place would curb expenditures in transportation and you can access other amenities at little or no expense... The 3 months expenditures on rent is worthwhile.

I chose to stay at a place where I have water and light and I expend my two months salary for rent. The amount I would have expended in water and fueling generator I cut down/saved.

Take for instance if you buy 1500 liters of water for 12k in 2 weeks that is #288,000/yr, you buy fuel for generator say 3k in a day, that amounts to #1,095,000/yr. Transportation could be 1k amounting to #240,000/year
These are hidden expenses we don't factor.
Bros Rent is not the problem here; your rent could be 400k to 500k e no be the issue... Pay attention to the hidden expenses. Nah wetin go chop major money!

Considering these other factors would help you guage what ideal rent you should pay for.

Hezzyluv:
Anything away from my 2months salary to settle my rent, count me out! The house rent no be my mate.

I even try to make things (house rent payment) easier for myself. I divid the total amount by 365 and make sure my palmpay save each day's amount in the luck. Then they would even give me interest after one year.

Omo this is so smart

If my 2 months salary can't pay my 1 year rent I drop it or max 3 months.

My guy dey collect 90k salary ,he go rent 2 bedroom flat for Ikeja ,rent don expire him no fit. renew ,them give am notice,he no take am serious,on a good morning Dem throw him things out..now this na person wey dey carry woman almost.. every day like say na curse...u dey owe rent,u still dey carry woman hup han Dan .na that one vex landlord pass..I no dey around I drop key for am make he cum my side ..the werey still carry the same habit come here...my rent don expire ,I don settle half,na the other I dey find ...we suppose split am but him womanizing habit I don change mind...him go soon understand it's cold outside by timaya..some people dey carry woman sha...

How please? Even if you earn a million your rent will be more than a million. How many people even earn above a million?

Queengee:



1month salary is ok my personal view though

The less you earn and the higher the cost of accommodation where you live, the less you have choices of how many months salary you use for rent.

If you earn very well, where you are in the top bracket of earners:

35% of the gross salary of someone very comfortable in your locality is the maximum reasonable rent expense.

25% of the gross salary of someone very comfortable in your locality is the best and most reasonable rent expense.

20% of the gross salary of someone very comfortable in your locality is either awoof or you dey tight.

Paying more than that 35% top range is you now flexing and showing off your wealth and what you can afford.

The gross salary of someone very comfortable in Lagos is N12m! Obviously, it would be different for other states.

If you are an average earner, you can still use the same percentages based on your gross salary. You just can't use it if you earn peanuts, except you want to live in a slum.