Ijawboy:
Lately I have been scouting for a 2 bedroom apartment in Ibadan for residential use.
See what a greedy Real Estate Agent charged me for a 2 bedroom apartment in Oluyole estate, here in Ibadan:

Rent - N700,000
Agency fee @ 20% = N140,000
Legal fee @ 10% = N70,000
Caution deposit =N70,000

Just imagine being asked to pay N980,000 due to sheer greed of this Estate agents in collusion with greedy landlords☹️

Unfortunately, this is the norm out here as other agents I spoke to were not any different.

Kindly share your experience with Ibadan Real Estate agents or even their greedy colleagues in other states and how you handled them.

. Minna own Real estate agents accept Agency fee of 10% of Rent.. As long as Agency fee is paid dem no care for Legal fee or caution deposit.

This my first time of seeing 20%, greed. If the ones of 5% are 10%.

Ijawboy:
Lately I have been scouting for a 2 bedroom apartment in Ibadan for residential use.
See what a greedy Real Estate Agent charged me for a 2 bedroom apartment in Oluyole estate, here in Ibadan:

Rent - N700,000
Agency fee @ 20% = N140,000
Legal fee @ 10% = N70,000
Caution deposit =N70,000

Just imagine being asked to pay N980,000 due to sheer greed of this Estate agents in collusion with greedy landlords☹️

Unfortunately, this is the norm out here as other agents I spoke to were not any different.

Kindly share your experience with Ibadan Real Estate agents or even their greedy colleagues in other states and how you handled them.

700k for Ibadan?? Na wa. E don dey cost like Lagos

Lol. Una go chop in Jesus name... Amen. But only chop legally.

Shey it would be best to deal with agents from big estate agencies? This has always been in my mind. To only deal with agencies that have a physical presence.

grandstar:


The legal fee is what is used to prepare the legal agreement. This should be given to a lawyer to prepare. Though the prospective tenant is charged 10% by the landlord, he might just pay the lawyer 5%. Many a time, the landlord simply uses a draft from the previous lettings so no payment to any lawyer. So, the landlord pockets everything.

If it is a big estate agency handling the property, the estate firm may handle the legal themselves and collect the fees. They may either use an in-house lawyer or employ the services of a lawyer. Large estate firms would most likely engage a lawyer each time so that if any problem springs up, the solicitor that prepared the agreement can be engaged. If they bypassed the lawyer and did an agreement without his input or authority, he is not liable to defend them and that may put them in trouble.

For the agency fee, that goes to the estate agent. We no go chop? My friend, what are you saying? No make I declare mental here?

The rent is strictly for the landlord while the agency fee and legal are supposed to be for the respective professions

Icumsa45:


700k for Ibadan?? Na wa. E don dey cost like Lagos

when 2bed cost 1m in some areas

Abuja here still worst ooo.Am currently looking for a one bedroom flat in abuja. If you have or know of any good agent around please quote me.
Thanks

Elsueno:


Most of these bandits, herdsmen ain't really Nigerians..they just cross d border & camouflage. Afterall all u need is 3k for birth certificate & indigene which automatically qualifies you for NIN

Which is why I have a gun, if they trespass I shoot directly with intention to kill.

Shellsploit:
Okearo is cheaper...



Besides, that N980,000 don buy and build correct house near canal for okearo. Just dont forget to tie the house to the closest tree

GAdmob200002:
They're worse than bad

Look up Google Admob today

It's real and very legit

Earn monthly payouts off ads

Check sig for contact details and more informations

Since you don't want to repent, you will see.

Iykoto86:
But we are blessed here in onitcha. Three bedroom flat @ nkwele 33,GRA. 400k per year.agent fee and cola nut,20k. with water and steady power supply. The way this guys keep churning out three floor buildings in this area is simply amazing.lass lass everybody go they alright sha.

Man which side you dey?

ActuaRise696969:


Which is why I have a gun, if they trespass I shoot directly with intention to kill.

Badt guy!
You probably have a pump action shotgun that fires cartrages. They have Ak 47 assault rifles that shoot bullets.
They also know your fixed address which is where they trespassed and you shot to kill. For sure any survivor amongst them will tell their paddies and surely they will come for return match of which their hit squad will butcher, shoot any living thing around and they will be with full federal Fulani government backing!
How you go touch awon omo baba and go free?

nedekid:

Badt guy!
You probably have a pump action shotgun that fires cartrages. They have Ak 47 assault rifles that shoot bullets.
They also know your fixed address which is where they trespassed and you shot to kill. For sure any survivor amongst them will tell their paddies and surely they will come for return match of which their hit squad will butcher, shoot any living thing around and they will be with full federal Fulani government backing!
How you go touch awon omo baba and go free?

Are you a coward?

ActuaRise696969:


Are you a coward?

Hmm.
You know nothing of me.
Well, cowardance has nothing to do with the reality on ground which is the senerio I stated earlier.
Those fulanis always come back enmass for revenge fully armed. More like a hit squad, and they seem to have backing.
Being brave does not save someone armed from a multitude armed and with the advantage of surprise.
Sometimes being a coward is smart cos you live to fight another day.
It is said a dead general helps no one.

GenAbacha:


Then which one is now caution and service charge?

Especially when it’s not a serviced apartment, why service charge

Caution is collected from tenants in the event they damage something. This would be used to take care of damages when the tenant leaves. If there's any balance after repairs, it should be given to the tenant. Caution should be refundable but that is usually not the case. The caution is paid to the landlord.

As for service charge, that takes care of some services thr tenant will enjoy. For instance, compound cleaning, neighborhood security, garbage disposal etc. Some landlords collect these upfront so they won't be chasing the tenant up and down.

Then you have big time service charges like this charge in Ikoyi or Victoria Island. Service charge covers 24 hour power supply swimming pool maintenance, property security guards and so on. 5m per year for instance. The money belongs to the landlord.

GenAbacha:


By law it should be 5% and nothing more than 10%
You think real estate and property leases is buying gala 150.
https://www.nairaland.com/5513980/fees-take-note-when-renting

Please point us to which law that is. Let us learn from your wealth of knowledge.

Most of those old estates in Ibadan are overrated. Oluyole,Bodija,Jericho, Ikolaba etc are all living on their past glory. If you have a car, look for a nice area outside those estates depending on where your work place is. I currently live at Odo ona and my rent is just N250k for a decent 3 bedroom apartment. I still get to my office at Dugbe before 7:30 am every day.

bigman001:

Bunch of useless and greedy yorubas, thats why we the yorubas will never have any head way, i dont even now if the tradition has been cursed with greed and hatred.

Ogbeni you are not yoruba

Ajixegun:

I can never give my house to an agent. How many blocks or cement did any agent give me when building my house? They always form bosses on another's man property.

it is the attitude of tenants that gave way for the reign of agents too many of this tenants won't value what u do for them if u give them apartment without agent and they will end up misbehaving but let agent be involved after spending so much they tend to caution themselves..

grandstar:
They're basing their agency fees on 2 years rather than one. 10% of 700k which is one year's rent is 70K. But though you're paying for a year's rent, they assume you're paying for 2 years, which is 1.4m, and charge you 10% of that.

This was also done in some parts of mainland Lagos. I know it used to be done in Ikeja. However, the last letting I did in Lagos (I am an estate agent) was in 2015 so I am a bit out of touch. I don't think it's done on the island.

The greedy system started when the then governor, Fashola limited residential rents to 1 year in advance rather than the then customary 2 years. Estate agents in order to prevent a cut in their fees, now charged commission based on 2 years rent rather than 1 year.

Don't say what you don't know pls , 20 percent agency fee was meant for 2nd brief /direct , the agent is says such isn't the direct agent to the property from the landlord, if you are ready to make payment , they will now refer you to the direct agent to give you the receipt... the funny things those illiterate barber , tailor and Co are the agent in ibadan , they are the spoiling the job for the realtors out there .. IF THE OP IS READY TO RENT HOUSE IN IBADAN , YOU CAN CONTACT ME , I WILL GIVE YOU DIRECT PROPERTY

AmuEbule:

In Idogbo town. Thanks

You can do it yourself.

Nisiw365:
there is 2 Bed for 1m in ikolaba, akobo, ringroad, jericho, alalubosa

Ehn

I think say na only aerodrome such dey oga O

lereinter:


Ehn

I think say na only aerodrome such dey oga O

price have gone up. But these houses are newly built

Vladm:
Real estate agents are just crooks like omo oniles.... the country sef... let me list some criminal jobs that are backed by stupid govt... not constitution o.. GORVERNMENT

1.NURTW
2.OMO-ONILE
3.FORCEFUL UNIONS
4.ESTATE AGENTS
5. Market unions
... the list goes on...
And we think corrupt politicians are our problem....

If you are still under 30.... try all your best to leave this country....

Wetin do above 30 ?

brokenHalo:
Actually, it all depends bro.

There's a 3 bedroom flat around my place of residence(family's), fenced, portable water(or whatever u guys call water channeled into ur toilets, bathroom and kitchen), and the rent is not even up to 200k(not up to), unsure how much the agent fee is, but u shouldn't be spending a total of 250k to get the place.

it's a growing estate though.

Greetings chief, kindly provide info of how to contact you or the person in charge of this. I'm interested. Thanks

tee4naija:
Most of those old estates in Ibadan are overrated. Oluyole,Bodija,Jericho, Ikolaba etc are all living on their past glory. If you have a car, look for a nice area outside those estates depending on where your work place is. I currently live at Odo ona and my rent is just N250k for a decent 3 bedroom apartment. I still get to my office at Dugbe before 7:30 am every day.

Is there a room and parlor self here?

Shellsploit:
Okearo is cheaper...



Besides, that N980,000 don buy and build correct house near canal for okearo. Just dont forget to tie the house to the closest tree

Lol �

Ijawboy:
Lately I have been scouting for a 2 bedroom apartment in Ibadan for residential use.
See what a greedy Real Estate Agent charged me for a 2 bedroom apartment in Oluyole estate, here in Ibadan:

Rent - N700,000
Agency fee @ 20% = N140,000
Legal fee @ 10% = N70,000
Caution deposit =N70,000

Just imagine being asked to pay N980,000 due to sheer greed of this Estate agents in collusion with greedy landlords☹️

Unfortunately, this is the norm out here as other agents I spoke to were not any different.

Kindly share your experience with Ibadan Real Estate agents or even their greedy colleagues in other states and how you handled them.

Blame the state government, they should regulate the housing rental landscape.