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Nairaland Forum / Nairaland / General / Properties / Rent Payment: Monthly Vs Yearly (23337 Views)
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Re: Rent Payment: Monthly Vs Yearly by shosky1794: 2:12pm On Jan 22, 2020 |
I will prefer quarterly whether as a landlord or a tenant |
Re: Rent Payment: Monthly Vs Yearly by Matam(f): 2:21pm On Jan 22, 2020 |
Yearly is better, avoid land lord's wahala. Meanwhile where Jos people, I dey look for two bedroom 1 Like |
Re: Rent Payment: Monthly Vs Yearly by Landnaira5: 2:24pm On Jan 22, 2020 |
ugh 1 Like |
Re: Rent Payment: Monthly Vs Yearly by DualCore1: 2:27pm On Jan 22, 2020 |
Monthly rent cant work in nigeria because people will begin to owe for several months. Not cuz they cant pay but just cuz they can do it and get away with it in Nigeria. Postpaid NEPA bill that is monthly, see how hard it is to get us to pay our bills on time... until it gets to disconnection. So landlords will be evicting us monthly be that before we go pay. Then again you pay last month’s bill on the 10th of this month, of course you dont think your landlord will expect you to pay this month’s bill by the end of this month... you may pay it by the 15th of next month... and the margin keeps getting wider and wider. In places like canada, rent has to be monthly cuz if na yearly most of us cant pay. The monthly rent of a two bedroom flat in canada can pay yearly rent for a bungalow in nigeria for two years. Since people work and are paid monthly, a considerable chunk of their salary goes to the monthly house rent and its not Nigeria where you can get away with not paying. 2 Likes |
Re: Rent Payment: Monthly Vs Yearly by Nobody: 2:31pm On Jan 22, 2020 |
talk2hb1:Bro this calls for a solution. Marking the comments closely. |
Re: Rent Payment: Monthly Vs Yearly by Kunlexity(m): 2:43pm On Jan 22, 2020 |
I prefer paying yearly, because monthly payment may not be that convenient for tenants that are not just paying house rent alone but also paying for other service charges... Like Electricity, security and the likes. |
Re: Rent Payment: Monthly Vs Yearly by paulsibility(m): 3:08pm On Jan 22, 2020 |
To fully understand this, take 'NEPA' bill for instance. I have a co-tenant who hasn't paid a dime since October last year. How can such a tenant comply with montly pay of rent. We have many of them like that. 1 Like |
Re: Rent Payment: Monthly Vs Yearly by kingsol1759(m): 3:12pm On Jan 22, 2020 |
if I ever build my own house in which I would very soon. I am going to be renting out on monthly basis this will help my tenants cut their clothes according to their sizes . A lot of people renting houses do not do their calculations before jumping into the house. 2 Likes |
Re: Rent Payment: Monthly Vs Yearly by PDPGuy: 3:14pm On Jan 22, 2020 |
I prefer my current monthly payment |
Re: Rent Payment: Monthly Vs Yearly by tityboi: 3:15pm On Jan 22, 2020 |
No no yearly |
Re: Rent Payment: Monthly Vs Yearly by uuzba(m): 3:43pm On Jan 22, 2020 |
Europeans, Westerners all live on credit. Their bank account is 0.00. They use credit card for everything. Food, Clothes, Car, Phone contract, mortgage. And then they spend their lives, working and paying back the credit, month after month. In that type of life, one can barely save anything. That's why they pay monthly rent. They can never save money like us to pay yearly. We Nigerians do not have credit system. Nobody here will give you Food, Clothes, Car, Phone contract, mortgage on credit. Go and earn your complete money first, before buying anything. So somehow, we are better at saving money. We can save to pay annual rent. But believe me, if you allow your life to go down the path of credit-credit-credit.... you can never gain it back. Majority of British students take out a student loan to even go to university. And this money is deducted from their salary if and when they get jobs after graduation. Many get seriously depressed becuase of this. If they don't pay, it is recorded as a bad credit rating and they can not take more credit for any other thing. Some just gather small money, enter aeroplane and run to Australia (a country made or formerly British citizens) and start a new life there, never to return to UK. |
Re: Rent Payment: Monthly Vs Yearly by uuzba(m): 3:48pm On Jan 22, 2020 |
Mrquincy:Monthy How? So where are the youth now? If they can't pay only 1-month rent, is it 12 months rent they will pay? The person that is homeless is already homeless, 1 month or 12 months. My fear is that when people can pay 12 months (1 year) rent by being disciplined and saving money, then you now come and tell them to pay only 1 month rent, they will think they have excess money. Then spend it anyhow on shoe, watch and phones and then indeed become broke and homeless the next month. |
Re: Rent Payment: Monthly Vs Yearly by Bahddo(m): 3:48pm On Jan 22, 2020 |
Depends. You must be wealthy to pay yearly rent in Europe or the US. They pay monthly because that is what the vast majority can afford after taxes and other bills. Rent is relatively cheap in Nigeria so a lot more persons can afford to pay a full year (even 2) at once. 3 Likes |
Re: Rent Payment: Monthly Vs Yearly by Born2Breed(f): 3:53pm On Jan 22, 2020 |
Monthly is a no no. Yearly is preferable. Property is an investment, some take loan to build houses, so recuperating the fund invested in short term is the only option. I would prefer if the tenants can pay 5yrs. |
Re: Rent Payment: Monthly Vs Yearly by uuzba(m): 3:54pm On Jan 22, 2020 |
Bahddo:Exactly. I paid £180 monthly in UK for a one-room flat. At the time, £1 = N250 In fact it was just 1 room with cooker and cabinet on one side. I used to go outside to take my bath. That gives N540,000 annual rent for a 1-room flat. What kind of bullshit is that? Big boys in Lekki were paying that kind of money for 3 bedroom flat. 1 Like |
Re: Rent Payment: Monthly Vs Yearly by talk2hb1(m): 3:55pm On Jan 22, 2020 |
tobicool:Ayam not Overstanding Repetez S'il Vous Plait 1 Like |
Re: Rent Payment: Monthly Vs Yearly by greenguy: 4:03pm On Jan 22, 2020 |
Nigerian always making lives difficult for Nigerians. How do you accept a yearly rent and in advance from people whose monthly salaries are not even stable or come when expected? This is one reason tenants especially in Lagos are being exploited and rental cost is skyrocketing daily. Some landlords even collect 3years advance payments from new tenants. 1 Like |
Re: Rent Payment: Monthly Vs Yearly by Poske95(m): 4:22pm On Jan 22, 2020 |
Pay conveniently.....monthly, quarterly,yearly........ |
Re: Rent Payment: Monthly Vs Yearly by Geesaintagape: 4:38pm On Jan 22, 2020 |
My apartment at Asaba rent is quarterly and every tenant is happy n moving on smoothly |
Re: Rent Payment: Monthly Vs Yearly by Keemsleek005(m): 4:48pm On Jan 22, 2020 |
Gudlite: Seriously it really getting annoying just to rent 3 bedroom flat, you spending a million naira for a year rent. Be like I go just buy land for mowe build house there. You start hearing crazy things agent too wants 100k. It's crazy. |
Re: Rent Payment: Monthly Vs Yearly by Righteousness89(m): 5:31pm On Jan 22, 2020 |
Aboguede: I hv visited African countries.. and rent is paid Monthly.. |
Re: Rent Payment: Monthly Vs Yearly by philip0906(m): 5:36pm On Jan 22, 2020 |
Keemsleek005:Has he answered your question or he has disappeared? I reminded him of this question, he hasn't replied. 1 Like |
Re: Rent Payment: Monthly Vs Yearly by kay29000(m): 5:43pm On Jan 22, 2020 |
MISTAICEY02288: Lol! So true. Every small thing about the tenant will be vexing him as he remembers how he spent the rent finish in one week on his small girlfriend |
Re: Rent Payment: Monthly Vs Yearly by Keemsleek005(m): 5:56pm On Jan 22, 2020 |
philip0906: He has not replied my brother lol. |
Re: Rent Payment: Monthly Vs Yearly by Nobody: 5:57pm On Jan 22, 2020 |
cococandy: You are earning around $70k to $100k yearly, so why art thou complaining? 1 Like |
Re: Rent Payment: Monthly Vs Yearly by MISTAICEY02288(m): 5:58pm On Jan 22, 2020 |
kay29000: Lmao.. Asin ehn. You don get am 1 Like |
Re: Rent Payment: Monthly Vs Yearly by Irore: 6:05pm On Jan 22, 2020 |
This topic reminds me of years past when rents almost everywhere in Nigeria was two(2) years. God is good. |
Re: Rent Payment: Monthly Vs Yearly by Ifebazz(m): 6:30pm On Jan 22, 2020 |
If what the landlords wants to do with the bulk money can also be partitioned into monthly payments would the monthly be then prefered? illuminaty: |
Re: Rent Payment: Monthly Vs Yearly by sharone21(f): 7:55pm On Jan 22, 2020 |
Olhomes: In Ogun State: 6 months to 1yr( 1 yr usually, but you can plead for 6months) In Cotonou/Benin: 3-4 months....Agent's fee is 1 month's rent, Caution fee for light/water( goes to landlord) is : 1 month's rent or negotiated. 1 Like |
Re: Rent Payment: Monthly Vs Yearly by Lifecanbeamazin: 8:29pm On Jan 22, 2020 |
I prefer monthly. There was this tenant who was some months behind in paying his rents. So I asked if he would like monthly payment which he accepted. This guy couldn't still meet up, he left the house with 10 month rents and that idea. Going through that stress every month is just too much. |
Re: Rent Payment: Monthly Vs Yearly by chukzyfcbb: 9:07pm On Jan 22, 2020 |
The yearly wey Dem dey pay, how many dey pay rent in due time kwanu. 1 month go pass, 2 month go pass, up to 6months yet some tenant never show up, the rent of one year Dem go carry over. Worst be say, some go codedly come pack out ontop the rent wey e no pay and months of wasted time living free, na I'm u wan do monthly. U go just die as a landlord from excuses if you try am |
Re: Rent Payment: Monthly Vs Yearly by Kelechi009: 9:25pm On Jan 22, 2020 |
omoharry: Yeah, this is why people in the west live from paycheck to paycheck. Once job is lost, they are dead. |
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