landlords and landladies want to reap quickly, wht else do u expect?

It seems to be a lot of money but the fact is we all know how 9ja be,when tenants don't pay their rent in advance,you will find it difficicult to collect monthly payments from them,they will come up with stories.Tenants look at their ladlords and landladies and think despite how blessed your are,should this money matter to you but it really doesn't work that way

Even the ones that pay in advance will refuse to pay when the next one is due and no matter how you go about it,the landlord is likely to loose out,if they take it to court, by the time the case is finished,the tenant would have lived in the house for several months without paying.

And besides,bulk money is a lot easier for the landlord to make use of,collecting 10-20k per month won't do the landlord much good.

I really think the tenants are the one making life difficult for themselves cause they re not trustworthy and they really don't take their rents seriously,thinking our landlord or landlady is nice and would understand.

Its simply the economic law of supply and demand that is at play here. The demand for housing in Nigeria, especially in the urban centers, outstrips the supply !!!

Attempting to fix an artificial price for housing will only make things worse as Landlords will produce an offical receipt to comply with the law while charging their tenants cut-throat prices !!!

What Govt.can do is to find out the actually demand for housing (approximately 150 million Nigerians divided by 6 people per family = 25 million housing units) and then the supply of housing available, using satelliate pictures obtained during the last national census, and finding a way to correct the inevitable shortfall between the demand and supply by introducing the right policies to motivate stakeholders in the building sector (Mortgage banks, The Stock Exchange, Construction firms, Banks etc). Q.E.S.

"finding a way to meet the inevitable shortfall between the demand and supply" is hardly a plan.

Seun:

"finding a way to meet the inevitable shortfall between the demand and supply" is hardly a plan.

You are right seun, thats why I had to modify my earlier contribution to this thread.

Because ours is a lawless country.
Because you don't have your own house.
Because the govt plays virtually no role in housing people.

U know, i try not to get personal in a debate but when i sense selfishness, ITK mentality, foolishness based on monkey exposure from trips outside 9ja, ignorance of how things work, i get pissed the eff off.
i am a landlord and tenant too. i own my own and run my IT business. Believe me, i have enuff experience when it comes to these things. 9ja people are bad creditors. they will never like paying bills even when the money dey there. i could be guilty of that at time too, so i know its there(no point pretending its not).
imagine a young man like me selling laptops and phones to bank "big bois". the arrangement is they'd pay installmentally for 3months but 2yrs after, we still dey play hide and seek over the last nstallment. at times second and last nstallment becomes wahala. i go call lawyer everytimme i wan colet 50k?

truth is, its crazy to have to pay rent u dont have yet. but how for do when the whole system is bad? u cant let the landlord take blame and pay for a deffective system. dont always blame d landlords and dont always blame d tenants. see it this way. what if we had a good database system, good welfare system, good credit system and functionall property laws, effective law enforcement agencies(police and courts), steady power for businesses to run on so they can make and keep good money for operation(includin payment of salaries). the tenant wont have an excuse for not paying rent and so d law can take it ourse on him if he defaults. he wont be able to run from keja to vgc cause all his prospective landlord need to do is a lil background check to know his credit status.

speaking as a tenant and landlord, i think 1yr or six months is ok and payment must always be upfront with a grace period of 1month, max!

so long!

anoda thing is, f the govt can make the environment conducve enuff for mortgage businesses to undertake massive housing developments( not all these 30million naira houses on lekki o), there'd be housing boom and people will surely laff. imagine a scenario where there is always lite for businesses to run on. imagine say businesses make and keep enuff mony to pay staff and keep business afloat, tnants will always have money at month end to pay rent. landlord will always have money to cater for his family.
imagine say we get credit bureau with central databse of borrowers and then a tenant defaults in ikeja, how e go run ngo vgc knowin that all it would take is for the landlord to access the database and see if creit status, tinubu has always canvassed for thisn and i hope one day they'd get to do sth abt it. read in businessday that yaradua is thinkin in that line. story long but i hope to see this in nmy lifetym.

From what I have been reading here, it seems some people are anti capitalists . When a landlord spends money to build his own house from start to finish, most times without govt help, where will the government come in to help masses chose how rents should be paid. The business terrain is challenging enough without adding more confusion to the equation.

Landlords even stand to lose much from these advance payments. Have we factored inflation? the way prices of materials and services keep increasing, you will find out that after two years, inflation will make a nonsence of the present rent. The landlord is better collecting monthly, and adjusting his rent upwards, as the inflation keeps increasing.

The advance payment is not really a bad idea.
However, two years advance payment is wickedness.
6 months to 1 year seems to make more sense.

we need God's intervention in this country!, in any which way you look at it, collecting 2 years upfront house rent is weird!, the investment on landed property is not suppose to be collected at once!,
As a young Graduate, on the average the salary of your first job is btw 30k to 80k and you expect him to pay up to 450k and above for a 2 bed room flat in an average area in Lagos!
tell me, where do u expect him to get the money?
Landlords are guilty and our Government(if at all we have any) should be jailed for life!

Landis and Ireke you guys are the bomb! you've said it all!,

People do not collect salaries in advance so am kind of annoyed why landlords,agents should be collecting rents in advance minimum 2 years

That is one of the major problem we have in this country. Well, I dont blame any landlord for this, it is bad governing system in this country call Nigeria. Nobody check anything they would never check because that is what all these political tugs call leaders are doing as well. Things would be better if govt change for better.

It is appalling really, all these lazy guys who call themselves AGENTs are the cause of this worrisome development, they want to reap where they did nt sow. Pls let the world help me tell those our gentle thieves in the House of Reps/Senate that these are pressing issues they should look into & stop killing themselves over budget. Did I hear anyone say THEY ARE BUDGET AGENTS. I cry for my country,

selfisness is all that i can say it brings all this , we are not our brothers keepers ,we do not care about others peoples welfare the same thing affect all the vagabond in powers they care about themselve alone and do not care about other if they really care wewould have had enough housing estate for citizen to live in and pays as we use it later, once our govt cannot do this as a capitalist state he who God has bless to own a house will want to make his money too from what he has ,without consider anybody welfare.

@Landis
What a brilliant idea you have about using the rent issue to reach the underbanked.
Though its still raw, but the idea is great if u consider d fact that getting the underbanked funds had been a huge headache on the financial institutions.
I hope that our law makers will get to see this and develope the idea into a workable framework.

That's why i love Nairaland, in d midst of a whole lot of junks, u still pick a few jewels.

2 sheniqua

I understand ur argument, u have some valid points. This is Nija anyway.

As complex as Nija, have u seen anybody deposit money in full for a car and come after two years to collect the car? But why do you support that with rent? Please think.

Thanks.

[color=#006600]If I want to start collecting monthly rent, I will consult lawyers about laws regarding tenancy, and see if we can include some clauses in the rental agreement and also if such an agreement between the landlord and tenant will be respected in the court of law if the terms are carried out to the letter.

• I will collect an amount that is equal to 3 month's rent as caution fee, which will be returnable at the expiration of tenancy (Amount returned will depend on factors such as rent owed and cost of avoidable damages to the property)
• Rent for each month is due on or before the end of business on the first business day of that month. You still pay one month in advance, , blah blah.[/color]



2 Ireke

That was an excellent post. We need people like you in this forum. Great home work. A win-win situation if I must say. There was so much conscience in that.

Great.

posted by Double N
Naija!This topic has always bothered me,i ma so happy that someone has brought it up.

pls someone should help with situation of things about this topic because is worrisome to many.

i think there should be a fine on anyone who demand for advance rent payment n whoever pays it!

Great topic!