Adeoye11:
Seriously guys, if we need this huge madness and greediness to stop we need to start trending this house rentage money.
Let us trend it like #end sars.
Let's save legit hustlers from becoming ritualists
Appropriate bodies should swift into action before it gets out of hand

I thought one bill on monthly rent has passed second reading in the national assembly.

Positiveme2020:


Its a two-way thing, you regulate prices of building materials also not just the rent.

very true .

bmdmix11:
wetin u just write

trash cus me too no grab

bigcee:

And it's worth it. Not the dirty houses with exorbitant rent we have in Nigeria.

Not to mention the opportunities available there not found here!

SocialJustice:
It is not easy at all. The main issue is housing deficit.

Nigeria needs to start building estates massively, or incentivise the private sector to build mass housing for rent.

As long as the massive deficit exist, rent will continue to skyrocket.

there was these national housing scheme federal government started early last year and was supposed to go for 2-4 million ranging from 1-3 bed rooms but when it was completed in October/November last year, federal government made a uturn and started selling same houses from 7-16 million here in Abuja.

jadyclem:

Funny. Landlords of these days are extremely greedy and heartless! After you've upgraded it to your taste, the landlord will either increase your rent or give you quit notice so the next tenant can pay much more. Talking from experience and I've also seen it happen again and again

This just happened to me, I decided to destroy all the things I put in the house, after spending almost 200k to peemp it these devils gave me quit notice, I almost cried

lookingfly:
there was these national housing scheme federal government started early last year and was supposed to go for 2-4 million ranging from 1-3 bed rooms but when it was completed in October/November last year, federal government made a uturn and started selling same houses from 7-16 million here in Abuja.

Very bad, corruption has destroyed everything. Government is not even disciplined enough to enforce its own plans.

In China, government and private sector engage in mass housing developments. While private sector focuses mainly on luxury properties, the government provides modern estates with facilities after demolishing the old village that existed there. The recipients own the new properties. Look at Singapore too.

Some how, things that are successfully done elsewhere flops in Nigeria. Like nothing can be implemented properly. Corruption and greed must destroy it.

Non is ready to be the other brothers or sisters keeper, we want to extort each other at the marginal chances from fellow country men/women.
We were made to believe that exchange rate is the reasons for all these avoidable inflation and hikes in the market, but what has space renting got to do with excessive increment nowadays.

Today 7th of February, I boarded a cab with a woman who lost her way trying to locate somewhere, the moment the woman unknowingly informed the cab driver that she did not know the place, the cab man told her the tfare is #250 while we she met in the cab going longer bus stop were to pay #100. So you can imagine the kind of cruelty we play to each other, while the few people we elected to make living conducive for us are busy milking and siphoning our common wealth away.

I keep on saying we need to be humane enough to our immediate partners before the so called politician can value our existence.

Let's start the federalism in our abode.

luthorcorp:
All thanks to your yahoo Yahoo friends whom you admire and want to be like.

I rented an office but because I look young my landlord thought he has seen a yahooboy he can extort. Imagine after moving in the fool came telling me that the paint I met I will pay for it, I just told him " baba this little conversation is over and until my rent expires we have nothing to discuss ever again".

God bless you.

Emmypure:

Penny wise pound foolish

really bro big one.

SocialJustice:
Very bad, corruption has destroyed everything. Government is not even disciplined enough to enforce its own plans.

In China, government and private sector engage in mass housing developments. While private sector focuses mainly on luxury properties, the government provides modern estates with facilities after demolishing the old village that existed there. The recipients own the new properties. Look at Singapore too.

Some how, things that are successfully done elsewhere flops in Nigeria. Like nothing can be implemented properly. Corruption and greed must destroy it.

I de tells you... Corruption is c the order of the day. Some of the reasons why most Nigerians are fixated on leaving this country.

kabaz:
I am paying 150k for a room and aa parlour apartment...it has wardrobe and ceiling fan in the room...Make I hide myself here till better opportunity show

Lagos?

Help2020:

How did you can I to this conclusion? I rented a house for my sis 6 months ago in Lagos,it was 2 rooms self con and 65k a year.. I think the location matters.

This is not true, it's most likely your sister is sharing the room or sharing the house. The ghettos of lagos won't go for that amount. I recently helped my cleaner pay for his rent recently and the price was 150k. Or most likely she's at the outskirts of Lagos.

sslcrypt:


This is not true, it's most likely your sister is sharing the room or sharing the house. The ghettos of lagos won't go for that amount. I recently helped my cleaner pay for his rent recently and the price was 150k. Or most likely she's at the outskirts of Lagos.

I paid for a house and hand it over to my sis and you're saying is not true? Go to charity estate ikorodu,igboolomu by psychiatric junction and ask for house to rent there.. Not everyone have time to come and post fake news on nairaland abeg

Help2020:

I paid for a house and hand it over to my sis and you're saying is not true? Go to charity estate ikorodu,igboolomu by psychiatric junction and ask for house to rent there.. Not everyone have time to come and post fake news on nairaland abeg

I never disputed you position, now you mentioned the location I kinda see the facts. My perspective was based on island mainly.

BluntTheApostle:


You are the one who is not getting it.

Some of the houses that went for about 150k about 3-4 years ago are now going for over 300k. Are you telling me that there was a spike in demand, or a significant increase in demand now than 3 years ago?

..and in that your 3-4 years ago what job was created in rural areas Everyone has left the rural areas which encompasses farming and other agro jobs due to govt incompetency to the city to get better jobs..since everyone is in the city hence increase in demand of the houses which in the first place arent equipped for such demands..hence the rise in rent.. which i simplified for you earlier in the term supply and demand..
( Maybe i should simplify to you what govt incompetency means, it means lack of security, lack of roads, lack of tax clearance for aspiring entrepreneurs, lack of foreign investment who can key into the potentials of rural resources...e.t.c. I can go on and on..but its obvious you are a govt apologist from your earlier statement.)

Badboibipo:
How can a person have over 300,000 Naira and still can’t afford any descent house? How did we get here?

The first time I moved out of my parents house In 2018 I literally rented a house for 40,000 naira a year, and it was a room self contain in delta.

Today there is no single room self contain below 200-250,000 naira, and that’s even the ones in rural areas, anyone in town is from 300k and above, and yes just a room !!! Wtf is happening? 'has

I’m so worried about Nigerians, am I the only one facing these issues or is every one so rich they can easily pay 300k for a damm single room apartment

has dollar remained 162?

syntekelite:


..and in that your 3-4 years ago what job was created in rural areas Everyone has left the rural areas which encompasses farming and other agro jobs due to govt incompetency to the city to get better jobs..since everyone is in the city hence increase in demand of the houses which in the first place arent equipped for such demands..hence the rise in rent.. which i simplified for you earlier in the term supply and demand..
( Maybe i should simplify to you what govt incompetency means, it means lack of security, lack of roads, lack of tax clearance for aspiring entrepreneurs, lack of foreign investment who can key into the potentials of rural resources...e.t.c. I can go on and on..but its obvious you are a govt apologist from your earlier statement.)

You are talking as if urbanization started today.

Helpfromabove1:


Good bless you they think the landlord just command the house to be like magic , the cost of building materials is going up by the hour not even day so what do you expect

So after the landlord sacrifice some good things of life ( while you are enjoying them) to build a house he should then rest it out for 40k na him send you come Lagos or why u know stay under your father's roof

Don't mind him. They think building is child's play, when you factor in the cost of land, foundation, lintel and roofing alone, I don't think such people should even say anything. The 40k is face me I slap you rent though

BluntTheApostle:


This would have been a great point, but it doesn't explain overpriced old houses. I have about four friends who saw an 100% increase in their rents. All of them have lived in those houses for over 4 years. Mind you, it is not a total package stuff. Even the Hausa guys that guard their gates are paid from the pockets of the tenants. The landlords do nothing other than collect rents.

My own apartment nko? The rent keeps increasing. From a notice circulated by my landlord around June last year, he blamed maintenance and all. Which maintenance? During the insecurity of Covid time, some hooligans destroyed our gates, na still we gather money repair the gates. So, what maintenance?

Great point, but let me tell you something you've not thought about, houses are like stock, the landlord cannot make his money back in 20yrs (30yrs in my case ), so what a smart folk does is gradually increment based on the development in the area and demand. Old houses still have cement, blocks etc in them and they also count whether you like it or not.


Real estate is not a profitable venture in Nigeria where people pay rent monthly else where, we just do these things for our kids and future.

Badboibipo:
How can a person have over 300,000 Naira and still can’t afford any descent house? How did we get here?

The first time I moved out of my parents house In 2018 I literally rented a house for 40,000 naira a year, and it was a room self contain in delta.

Today there is no single room self contain below 200-250,000 naira, and that’s even the ones in rural areas, anyone in town is from 300k and above, and yes just a room !!! Wtf is happening?

I’m so worried about Nigerians, am I the only one facing these issues or is every one so rich they can easily pay 300k for a damm single room apartment

That is why it's good to buy your own land even if it's in the Bush for now. Buy it and keep because development Will still come there as more people will be forced out of the town to the local areas for their shelter. A bush of today is a city of tomorrow. Don't wait to buy land

Nonexisting:
It's because everyone now wants to live in Lagos and Abuja. Some fools work remotely but they still live in mega cities paying huge rents when they have all the opportunities to relocate to smaller cities or live in their own towns. If not that common sense signed a memorandum of understanding with me, I will still be in Abuja now wasting money on rent.

Hi, what do you do remotely and how can one learn

adedayourt:
This issue is made worst by the blood thirsty greedy poverty ridden set of people called agents.

For example a landlord wants to let out his house for 200k and he gives it to an agent. (Just this one apartment is that enviroment e.g Ojota )
This agent will inform his agent friend about the vacancy who will in turn inform other agents.

All this agents will add some cut to the original amount when informing an innocent person who wants to rent.


By the time the info trickles down it has gotten to about 400k. On the amout they will still charge agreement and damages. for an apartment of 200k original price.


I was a victim too, but fortunately for me before i paid. I met the landlord who later gave me the original price and insisted that is the amount I should pay.

The landlord is like a father and a family to me today.

I beg, whcih area? Does this man have a 2 bed for rent too?

Sowiki:
Here in Ibadan, I'm renting an apartment of 200k and the agent is requesting for 100k commission. I don't know how we got here. Our country is so lawless and just anyhow

Watin you da talk
I collect only room bed space cos of distance for work
The man way I no way be agent collect agent and agreement 100k
No be house rent......oh
House rent 150k

Brooke60:
I beg, whcih area? Does this man have a 2 bed for rent too?

somewhere in lagos ma'am. and he has just one tenant and dats me.

I dont intend to leave the house yet

XGhost:


Where are you located?
I'm about to pay 700k for a room and palout (mini flat) here in Lagos.
To collect their account number to send the money de pepper my body since last week. A part of me is wishing the deal will collapse sef

Which area in Lagos is the apartment located?

BluntTheApostle:


You are the one who is not getting it.

Some of the houses that went for about 150k about 3-4 years ago are now going for over 300k. Are you telling me that there was a spike in demand, or a significant increase in demand now than 3 years ago?

It is as a result of cost push inflation, look @ the prices of all your daily consumables 3 - 4 years ago, transport, your children school fee and every other thing you spend your money on, now compare their prices with current price. The same thing is happening in the real estate sector. Your Landlord or Agent is not happy in jacking up rent indiscriminately or irrationally, but we have to face realities without attaching sentiment.

The difference between a new building and an old building in situation of rent is that, the new building will show economic realities immediately it is completed, while the old building will catch up later. 100% old house increament only catch up with economic realities, for the last 7 to 10 years, some landlords haven't increased their rent.

If economy is stable or if prices are going down, you can enjoy the same rent even for 20 years.

Some landlords also employ one tactics, they will deliberately undervalue the rent they charge on their property at inception with the aim of increasing the rent either annually or every two years, till the rent they charge finally meet up with prevailing economic realities, it is their game plan right from time which tenants won't be aware of.

rukyboy:
Guys. Don't blame landlords oo.
If you know what it costs to build a house now eh. You will scream.


To build a storey building of 4 flats will cost about 30 million. I know this cos I'm building one ..


How long would it take the landlord to recoup that amount. You check am na

Cement 4,300 per bag
12 mm rod. 4,500 per piece
Block. 250

Sand and granite .. So expensive

Cost of land
Community/Omonile wahala
Labour. Very expensive
Etc

your assesment is undervalued , this should cost you over 40million , for a mid luxury 4 flat ....

Erums:


your assesment is undervalued , this should cost you over 40million , for a mid luxury 4 flat ....

Don't give me heart attack bro

rukyboy:


Don't give me heart attack bro

IS THE TRUTH BRO .....this is excluding land.

and you will be the supervisor on site and buying materials by yourself , if not you should be ready with 45million upward.

i am doing a 3bedroom with ante room, inner palour and lobby with a 2bedroom (mid luxury) - because i used steptiles instead of geradd.

others like parapet, structural designs , POP all through are topnotch.

im spending close to 17m atm ...and i actually used cost reductive methods and i supervise site , negiotiate and buy materials myself..so dont be decieved ...this is how its actaully how the original cost looks like

Erums:


IS THE TRUTH BRO .....this is excluding land.

and you will be the supervisor on site and buying materials by yourself , if not you should be ready with 45million upward.

i am doing a 3bedroom with ante room, inner palour and lobby with a 2bedroom (mid luxury) - because i used steptiles instead of geradd.

others like parapet, structural designs , POP all through are topnotch.

im spending close to 17m atm ...and i actually used cost reductive methods and i supervise site , negiotiate and buy materials myself..so dont be decieved ...this is how its actaully how the original cost looks like

Well. I just finished my decking.

Spent about 13m so far

I'll see how it goes