At the turn of the New Year, landlords in Lagos State have increased rent for their properties, an action that does not sit well...

At the turn of the New Year, landlords in Lagos State have increased rent for their properties, an action that does not sit well with tenants.

A cross-section of tenants who spoke with our correspondents decried the increase, saying it was coming at a time people were feeling the fangs of hard times in the country.

“For the past five years, I have been paying N300,000 annually as house rent for a mini flat (a room and parlour self-contained) in Agidingbi, Ikeja. But to my surprise this year, I got a notice from the caretaker that the rent has been increased to N450,000 which is more than 50 per cent increase.

“All the tenants in my apartment are still at a loss over the increase and are appealing to the landlord to reduce the increment,” a tenant who identified himself as Chidi, said.

Findings by our correspondent showed the increment is most prevalent in popular residential areas of Ikeja, Ikeja GRA, Ikoyi, Lekki, Surulere and Yaba, among others.

Another tenant in Ojodu also told our correspondent how the rent for a three-bedroom flat was increased from N700,000 to N1.6m after the landlord reportedly ejected all the tenants in his apartment and carried out minor renovation.

“After the renovation, the price was jerked up cutting across all categories of flats in the apartment. For instance, the rent for a mini flat was increased from N350,000 to N650,000; a two-bedroom flat was increased from N600,000 to N1.1m and so on.

“Though as I am talking to you people have been coming to check the apartments, the complaint is that the prices are too high,” the tenant said.

Mrs. Temitope Gabriel, a resident of Dopemu who confirmed her house rent was increased, stated that the situation has persisted since the COVID-19 era.

“Ordinarily with COVID-19, landlords should not increase house rent. They particularly did not need to increase house rent because many people lost their jobs and things are extremely hard but that has not deterred landlords from increasing house rent,” she said.

Saying a two-bedroom flat costs between N1m to N1.3m in her estate, Mrs. Gabriel stated that some tenants have been forced to vacate and move into their uncompleted buildings.

Mrs. Vivian Ohene resides in a three-bedroom apartment in an estate at Mangoro where she was paying N500,000 annually but could not get the same type of apartment at N1million when she sought to change residence.

She said the recent hike in rent in Lagos is quite alarming as it is not the best time to increase rent due to the economic situation of the country caused by the COVID-19 pandemic

“I had to leave the apartment I occupied recently and after passing through difficulties to secure a befitting accommodation, the rent was almost three times my previous house rent with agents and lawyers who are ready to collect almost half of the annual rent.

“Some landlords are willing to collect N1million for a three-bedroom apartment, those who are willing to collect N900,000 will ask for two years or one and half years’ payment. This is terrible especially when the landlords and agents could see that the tenant is desperate,” she lamented.

A real estate player, Tunde Balogun, blamed the development on the economic instability and inflation which affect the purchasing power of the people.

He said landlords are also affected by the prevailing economic hardship in the country.

Balogun, the CEO of RentSmallSmall, said: “A landlord also needs to feed his family. If it is a man, he needs to give the wife money for food, money for school fees and the rest. A landlady has her market, she needs to invest in her business, probably has to spend money to contribute to family obligations one way or the other.

“You will realise that these people are feeling the heat of economic instability. Cost has gone up for everything: food; you want to buy plantain today, plantain that used to be N500 is like N1500 now.

“They believe that tenants should not be paying what they were paying before. That is why we are seeing that increase. People will only increase prices in places where they know they can get more to meet their obligations.

“However, the downside of that is that while everything is going up, salary never goes up unless the company is one that is forward-thinking. Even those still want to continue to pay the same salary. If they decide to increase, it will be on performance appraisal and all that.”

The Nigeria Labour Congress (NLC) chairman in Lagos State, Comrade Funmi Sessi, while reacting to the development, said the rent increase is being experienced without a commensurate increase in salaries of civil servants.

According to her, many state governments are yet to implement the minimum wage.

She urged government to build massive low-cost houses for the masses and “not the type they are building now that are out of the reach of the most people.”

https://dailytrust.com/hard-times-for-tenants-as-landlords-hike-rent-in-lagos

Petrol price increase coming too, electric Tariff increase coming, soft drinks increase coming, all this increase with 30k minimum wage

Lol. More Afonjas trooping to Makoko or deported to Ogbomosho

The increase in rent was expected as a reaction to the monthly tenement policy by Lagos government.

Real estate investment returns are slow but with the monthly charge investors have to triple to monthly rate in other to hedge against tax and inflation.

It's not the best time to be a tenant in Lagos but it's great for investors

BKayy:
Lol. More Afonjas trooping to Makoko or deported to Ogbomosho

Your foolishness no get limit is the increase in rent only happenings in Lagos State

BKayy:
Lol. More Afonjas trooping to Makoko or deported to Ogbomosho

Mumu more nyanmirins living in overcrowded flats or under bridge/Shanties.No be by force to live in Lagos.

This is very good as Igbos now owns 90% of the houses in Lagos. Yoruba din use their houses for Owanbe. I don't want any wail from any quarters o except God wan punish you.

Jjd

BKayy:
Lol. More Afonjas trooping to Makoko or deported to Ogbomosho

My friend shut up!

Our pple are the ones mostly affected. Our population in Lagos is quite large and we still have igbos who are currently migrating to Lagos due to the unrest the illiterate miscreants called Ipob have been causing.

So just use top gum and jam that ur Ipob mouth

Saturn444:
The increase in rent was expected as a reaction to the monthly tenement policy by Lagos government.

Real estate investment returns are slow but with the monthly charge investors have to triple to monthly rate in other to hedge against tax and inflation.

It's not the best time to be a tenant in Lagos but it's great for investors

Honestly, my nephew called me last Dec and was telling me how his landlord increased rent from 900k to 1.2m. I said he should come live with us at Ikeja,he said he’s fine and he will pay. Lol

This rent hike in not only in Lagos is all over the country

This should motivate and challenge you to start your project, some challenges are Blessings in disguise

Landmack:

My friend shut up!

Our pple are the ones mostly affected. Our population in Lagos is quite large and we still have igbos who are currently migrating to Lagos due to the unrest the illiterate miscreants called Ipob have been causing.

So just use top gum and jam that ur Ipob mouth

My attention is not for fools. I've told you to always avoid my handle if you still have some dignity left as a human being.

So you are even hiding in Lagos like a rat and is constituting nuisance to proud Anambra sons and daughters that own the state physically.

Maxymilliano:
This rent hike in not only in Lagos is all over the country

This should motivate and challenge you to start your project, some challenges are Blessings in disguise

My friend Lagos is worst hit. 400-500% hike in rent isn’t funny. If you’re a family man living and working in Lagos;think of rent,children feeding,school fees,extended family wahala,transportation etc it’s not easy being a man.

This is why every new family must not give birth to more than three kids if u are not financially stable. Opt for family planning and save the country more wahala

Landmack:


Honestly, my nephew called me last Dec and was telling me how his landlord increased rent from 900k to 1.2m. I said he should come live with us at Ikeja,he said he’s fine and he will pay. Lol

I hoping the monthly rent policy is enforced so I can fully furnish my properties and put them on monthly rents per room. No one needs to come with bed or sofas. Just come in with your cloths and get your biometric captured. After 30 days the doors lock tenants out.

BKayy:
[s]My attention is not for fools. I've told you to always avoid my handle if you still have some dignity left as a human being[/s]

Ewu use this on ur mouth

Landmack:


Ewu use this on ur mouth

Lagos rat

The Iragbiji hoodlum must collect his levies in Lagos, I expect taxi drivers and bus drivers to hike theirs as well.
His owomida foot soldiers must ensure they extort Lagosians so that he will buy bags of rice and oil to give back to them as bribe during his campaign.
What the cocaine lord cannot destroy does not exist

Saturn444:


I hoping the monthly rent policy is enforced so I can fully furnish my properties and put them on monthly rents per room. No one needs to come with bed or sofas. Just come in with your cloths and get your biometric captured. After 30 days the doors lock tenants out.

Monthly rent law is already at it’s final stage. So be fast about that. Already furnished houses have been in vogue lately..landlords are tired of demonic tenants who wouldn’t want to evacuate a building at the termination of tenancy..some will purposely leave important items in the house after d duration so that d case go land u for police station. A tenant would tell u that u didn’t allow him finish packing out;and now his gold wristwatch of about 950USD is missing in d house...so u will have to pay for it

Same thing happening in ph.. I used to pay 350 for a two bedroom flat but now it is 450. How person won take survive for this we country?

BKayy:

Lagos rat

That most be the rat that ate a greater chunk of ur Ipob brain.

Online Ipob miscreant

Landmack:

That most be the rat that ate a greater chunk of ur Ipob brain.

Online Ipob miscreant

Lagos rat that will soon be chased to Makoko.
Lol

Landmack:

Monthly rent law is already at it’s final stage. So be fast about that. Already furnished houses have been in vogue lately..landlords are tired of demonic tenants who wouldn’t want to evacuate a building at the termination of tenancy..some will purposely leave important items in the house after d duration so that d case go land u for police station. A tenant would tell u that u didn’t allow him finish packing out;and now his gold wristwatch of about 950USD is missing in d house...so u will have to pay for it

Thanks for the insight. I will keep a safe in each room and strictly in the structure of the contract to deposit precious items of that nature in the safe and be charged for it, so if such items are in the safe we can basically drop the safe in the store to be claimed.

I hoping the monthly rent policy is enforced so I can fully furnish my properties and put them on monthly rents per room. No one needs to come with bed or sofas. Just come in with your cloths and get your biometric captured. After 30 days the doors lock tenants out.

This one go be wicked landlord.

BKayy:
Lol. More Afonjas trooping to Makoko or deported to Ogbomosho

while your poverty stricken trooping to oshodi Bridge

Superwave16320:
This is very good as Igbos now owns 90% of the houses in Lagos. Yoruba din use their houses for Owanbe. I don't want any wail from any quarters o except God wan punish you.

and your people will be crying yoruba landlord didn't rent them house because they are nyamiri

gambit25:

This one go be wicked landlord.

Na business man.
Go build your own

pedrilo:

Na business man.
Go build your own

d**k