You're the foolish one since you can't distinguish between good idea and bad one. Very foolish

Trimjos:
Foolish senator. Only good at marrying babies

All these looters we have as politicians are always out of ideas - always vomiting nonsense

Trimjos:
Foolish senator. Only good at marrying babies

All these looters we have as politicians are always out of ideas - always vomiting nonsense

Oga landlord, i know you are angry,but please pity us the poor masses.

As much as I dislike this man this is one of the most wonderfully beautiful and considerate bills to
ever come from the Post 1999 Senate

RevolverOcelot:
Make we no follow developed nations enter road o. That monthly payment will have it's disadvantages when the landlord decides to evict you one month after you have packed in because he doesn't like your doings

The tenancy term would still be in years, but monthly pay.

We don't want please, monthly rent can make someone commit suicide

Landlord and agents no go happy for this but tenants go happy o.

SeunBilton:


https://www.google.com/amp/s/thenationonlineng.net/nwoko-to-present-monthly-rent-payment-bill-at-senate/amp/

Kenya in East Africa and South Africa in Southern Africa practice monthly rent payment.

But renting a house in Kenya especially in Nairobi, the capital is very expensive.

I think Nigeria should just continue with the one year or two years rent practice.

It will reduce tension between landlord and tenants.

It will a give the tenant longer time to gather money for the next payment.

I strongly disagree with the monthly rent arrangement.

There will be so much quarrel between landlord and tenants over rent payment.

Even in Kenya the rent payment although it is paid monthly it is an optional arrangement.

A Kenya tenant can decide to pay upfront the rent.

“It is not done in any civilised nation'' is naija civilised?

It won't work because even some of the renants will not like the idea.

Tell that sanator to get practical knowledge. You want landlord to be fighting every month because people are irresponsible.

ADDRESS INSECURITY

I think the yearly rent payment is the best o. That way once you can gather money and pay for one year you know you are free from house rent matter for that year and can focus on other things.

My only suggestion would be that there should be a law restraining landlords from insisting on a one year rent payment if the tenant can't afford it.

This thing should be a matter of mutual understanding and agreement between the landlord and the tenant.

Ikem11:


Please explain how it will push up rent. Mind you even with yearly payment of house rent in Nigerian it's still been calculated monthly for you. Only that landlords needs it in bulk.

Time value of money.

Let's If you give me N600 now I could buy a car. But in a year's time that car could be worth N720. Now if you would be paying me monthly I need to factor in the inflation. So I would rather charge you N60/month now instead of you paying me N600 in advance, that would translate to N50/month.

What I expect this slowpoke to say is the agreement and commission madness in Lagos which is also spreading like wildfire to other parts of the country.

As for the yearly rent, if I can afford 5 years rent , I will rent it.

This bill is anti-popular because, once passed, rents will skyrocket to compete with Europe and the rest of the world.
Imagine that a rent of about 1 million naira per year, less than 100,000 per month, would gradually increase to 120,000... 130,000... 140,000... and so on until an annual rent reaches 4 to 5 million, especially in Nigeria where price control mechanisms are not applied.
Yes, it is bearable in advanced countries because of the productivity rates, unlike Nigeria where unemployment and poor remuneration hold sway.
This bill when passed will only favour the rich who have acquired so much wealth to invest in properties thereby making more money from the poor masses.

Oghene86:


Don't mind the idiot, it's ok we are going to charge what's been charged abroad since you want us to collect rent monthly. A single room in the UK with shared toilets and kitchen is £500 pounds per month, that's N875,000 per month, so landlords will now charge for a month.

3 bedroom flat in the US goes for $2500 per month, that will be N3,600,000 per month

Then be prepared to enable abroad standard of living.

DivinegiftofGod:


Leave him na. He'll tell us if we are earning the same minimum wage as our foreign counterparts.

Ask him if we are living the same standard of living as in the US.

DivinegiftofGod:


One landlord spotted.

One wicked landlord

Nice one!

I've always wondered why I have to pay house rent in advance when anything could happen at anytime.

Government seriously need to start regulating house renting, especially in the southeast!
People are really defrauding others in the name of house rent there. In Enugu for instance, to get a 3 bedroom flat costs around 700k aside the 100+k you'll pay as "lawyer fee" and another 100+k for "agency fee". This is a state with limited economic opportunities o.

I wish my able governor Peter Mbah could help us enact some laws that would put a stop to the high cost of house rents in Enugu. Something needs to be done urgently!!!

This should be a state government matter

christistruth01:
As much as I dislike this man this is one of the most wonderfully beautiful and considerate bills to
ever come from the Post 1999 Senate

It is not practicable
It should be done by State Houses of Assembly
We do not need a Unitary system.

This would only be practicable if eviction laws are also updated! Failure to pay on the due date attracts 10% late fee and failure to pay 7 days after due date allows for automatic eviction with just one paperwork at the court. This is how it is done abroad and everyone is satisfied.

DivinegiftofGod:


One landlord spotted.

you don't know anything, dey play

xnsandrxns:

One wicked landlord

Azinnnn...

Trimjos:
Foolish senator. Only good at marrying babies

All these looters we have as politicians are always out of ideas - always vomiting nonsense

Lol ..the man is mad. Off all the things plaguing this country....na this rubbish him dey propose

Actually, it is monthly overseas. They collect it before the new month begins…and you cannot pack out because you will sign a 1 year contract. If you leave before then, you must bring a replacement or continue paying the rent in absentia. You will sign about 20 pages of legal documents. We don’t have functional court system in Nigeria, so, I doubt it will work!

Why do I find it hard to make a sense from his view.?

He talked about mortgage with less than five percent interest rate sounds like a joke where facility loans already whoops in more than 20percent under their watch, everyone will pretend like they are helping the masses lol

Trimjos:
Foolish senator. Only good at marrying babies

All these looters we have as politicians are always out of ideas - always vomiting nonsense

E be like sey na house rent your papa take dey feed una, that is why e pain you like this.

Paraman:
House rent will become more expensive

I think it will be cheaper and we stop all this illiterate agent brouhaha. Imagine renting 40k house and paying 82k on first payment.
200k house rent will be like 18k/month.
My house rent is 212k and end up paying 350k as the first payment

Oghene86:


Because na una build house for landlord

RenaissanceGuy:
So, is minimum wage in the UK or US also N30,000??

is cement cheaper there? Is steel.cheaper

It is easier to be a lanlord in the UK than Nigeria because you don't pay for the House fully upfront. You get a Mortgage with 5%_deposit of the value of the House and pay interest at 5% on a 25year mortgage
In Nigeria you pay for the House 100% .
Who will lend you money for 25 years in Nigeria
If there is fire in the UK they have a fire service that works and insurance that works

They have something called a HelpToBuyScheme

It is a brutal environment in Nigeria. This is not a bad idea but landlords need incentives and government should subsidise house building.