freeman67:


That's how their customer services are really. But like XiaoLi said, you can request for another account officer. I am sure any assigned to you will be happy to work with you.

Who will you make the request to? They don't reply mails, messages or calls

Yeah, like a family friend, anybody working for you diligently in Nigeria automatically becomes a family friend.

My lawyer is in charge of screening and getting in new tenants into the house, writing of receipts, increment of house rents (almost every 2yrs), giving of quit notice.

Repairing of facilities in the compound, though I have all kinds of artisans who repairs facilities in my properties, my lawyer has all their contacts, he just have to contact them to fix things while I pay their bills.

My lawyer also organise meetings with my tenants, twice every year, this is one of the most important aspect of it all, they all discuss pressing issues and how to live together in peace.

Most of these lawyers looking after properties don't like you sharing their jobs with others, they like doing it all alone, they really like it as a part time job, and sometimes prefer it to going to court rooms to defend a criminal in a country where almost everybody is a criminal one way or the other.

emmanuelewumi:



He is still a small lawyer or a family friend so the business terms are not well spelt out, what are the everything the lawyer does?

2 old tenants and 1 new tenant, payment reminder is done by my lawyer and my account number also forwarded to them by my lawyer (we negotiated and agreed on this).

emmanuelewumi:


Are these new tenants or sitting tenants?

Are you the one who write debt reminder letters the tenants and other debt recovery activities?

Reputable law firms will let you deal directly with them if you are the one they paid to directly, you can only invite them when you have legal issues.

Donbrig:
Yeah, like a family friend, anybody working for you diligently in Nigeria automatically becomes a family friend.

My lawyer is in charge of screening and getting in new tenants into the house, writing of receipts, increment of house rents (almost every 2yrs), giving of quit notice.

Repairing of facilities in the compound, though I have all kinds of artisans who repairs facilities in my properties, my lawyer has all their contacts, he just have to contact them to fix things while I pay their bills.

My lawyer also organise meetings with my tenants, twice every year, this is one of the most important aspect of it all, they all discuss pressing issues and how to live together in peace.

Most of these lawyers looking after properties don't like you sharing their jobs with others, they like doing it all alone, they really like it as a part time job, and sometimes prefer it to going to court rooms to defend a criminal in a country where almost everybody is a criminal one way or the other.

For the rent increase which is almost after every 2 years, what percentage increase do you normally do?.

XiaoLi:
2 old tenants and 1 new tenant, payment reminder is done by my lawyer and my account number also forwarded to them by my lawyer (we negotiated and agreed on this).

Who issues payment receipts?

NL1960:


For the rent increase which is almost after every 2 years, what percentage increase do you normally do?.

After 2 years keh, 3 to 4 years is okay. The most important thing is to have responsible tenants.

50k or 10% increase is okay for sitting tenants. Whichever is lower

I register for United capital mmf for two weeks now but no response from them.do you have the customer care number

emmanuelewumi:



Who will you make the request to? They don't reply mails, messages or calls

Just write to tell them that you want to close your account. They will call you immediately

The law firm.

emmanuelewumi:



Who issues payment receipts?

emmanuelewumi:



He is still a small lawyer or a family friend so the business terms are not well spelt out, what are the everything the lawyer does?

One has to be careful of some of these small hungry lawyers. They will collect 5 to 10 per cent of your rent money and still go and collect ‘egunje’ from one of your stubborn tenants and start telling landlord stupid legal jargons

Many people realize too late that they have been throwing away good money by asking a lawyer to be collecting their rent on their behalf. Those lawyers add no value for the 10% they take from the rents and will still charge the landlord when it’s time to evict a stubborn tenant.

About 6%

NL1960:


For the rent increase which is almost after every 2 years, what percentage increase do you normally do?.

emmanuelewumi:



Who will you make the request to? They don't reply mails, messages or calls

I think a visit to their office is what will eventually fix it if you can create the time to go there. They will assign you an account officer immediately. Though it should not be that way at all. With United Capital even a WhatsApp Message will fix some issues or direct you on how to get solutions.

Saybal:
I register for United capital mmf for two weeks now but no response from them.do you have the customer care number

+234 816 828 2396 you can contact this number through WhatsApp. You will be told what. Though in case like this they may still ask you to mail their customer care.

emmanuelewumi:



How will she differentiate the accounts when funding them

As promised, on this I have to get more clarifications from senior officers. From their responses it's not really encouraged by compliance team because the usual thing is one customer per account number/id but here are their responses on how to go about having more than one mutual funds account particularly Abacus:

Officer1: It is possible to open two accounts
We can rename the second one account 2
Or she can open one for her child if there's any and run it like hers

Officer2: Good afternoon, normally compliance frown at such account, if she can fill the account opening form, and write (savings) after her name, it may pass

If you need further discussion on this you can call the toll free line 0800468378636 and request to speak with Oluwatobi or Ismail.
Whatever happens whether filling online form or hardcopy no forget my referral code o to help my ministry.
Thank you.

emmanuelewumi:
United Capital Money Market Fund is currently the highest at 9.6%

Pls how can I join them

Ugmama:
I don't know why HOUSE Owners meaningly rental tend to give their lawyers access to collect rentage into their accounts first, then remit to house owner later.

Please why do property owners do that?

Nigerian standard practice at the end of a given time agreed by both parties either quarterly bi yearly as the case maybe, reconciliation is done. The lawyer brings his band statement to his client and receipts issued to tenants or reconciliation are done by both parties.

emmanuelewumi:



Deal with reputable Property Management firms or Law firms.

I don't advice having personal dealings with tenants, except you have just one Investment property and you don't have any other thing doing
I find it belittling asking tenants to pay their rents, I will delegate that dirty job to a third party

Law firms are expensive 10% professional fee and 7.5% VAT.

Property manager, most people don't feel comfortable with them especially when they are unable to remove an owing tenant or requesting you get a lawyer go to court (meaning extra charge).

just2endowed:


Pls how can I join them

it's per annum o, send them a mail

Donbrig:
Yeah, like a family friend, anybody working for you diligently in Nigeria automatically becomes a family friend.

My lawyer is in charge of screening and getting in new tenants into the house, writing of receipts, increment of house rents (almost every 2yrs), giving of quit notice.

Repairing of facilities in the compound, though I have all kinds of artisans who repairs facilities in my properties, my lawyer has all their contacts, he just have to contact them to fix things while I pay their bills.

My lawyer also organise meetings with my tenants, twice every year, this is one of the most important aspect of it all, they all discuss pressing issues and how to live together in peace.
Most of these lawyers looking after properties don't like you sharing their jobs with others, they like doing it all alone, they really like it as a part time job, and sometimes prefer it to going to court rooms to defend a criminal in a country where almost everybody is a criminal one way or the other.

You have a good lawyer, many dont give a hoot, they just after the 10%, country hard sha!!

Is there a Dividend Reinvestment Program(a.k.a DRIP) in Nigeria?
If so how can i activate it?

lavylilly:
Law firms are expensive 10% professional fee and 7.5% VAT.

Property manager, most people don't feel comfortable with them especially when they are unable to remove an owing tenant or requesting you get a lawyer go to court (meaning extra charge).

The range is 5% to 10%, you can even get less than that if you have a lot of properties.

Wapgod:
Is there a Dividend Reinvestment Program(a.k.a DRIP) in Nigeria?
If so how can i activate it?

The companies offering DRIP in Nigeria are Nigeria Breweries and Stanbic IBTC Bank.

You can create yours by reinvesting your dividends

lavylilly:
Nigerian standard practice at the end of a given time agreed by both parties either quarterly bi yearly as the case maybe, reconciliation is done. The lawyer brings his band statement to his client and receipts issued to tenants or reconciliation are done by both parties.

Thank you for your feedback but personally I won't subscribe to this practice.

Lazyyouth4u:
Many people realize too late that they have been throwing away good money by asking a lawyer to be collecting their rent on their behalf. Those lawyers add no value for the 10% they take from the rents and will still charge the landlord when it’s time to evict a stubborn tenant.

They are paying for their time, services rendered and comfort.

A member of this thread who is in Kaduna had a house in Lagos. Do you expect him to be phoning his tenants for the payments of their rents, attend to complaints about the house. It is better to outsource such to a third party.

Although the person later sold the property and invested the proceeds in a stress free Investment

You are not going to be judged by how much money you make, but by how much you keep, and how hard it work for you.

And for how many generation you keep it for.

“Robert Kiyosaki”

emmanuelewumi:


The range is 5% to 10%, you can even get less than that if you have a lot of properties.

You get 5% if your rent is in millions

lavylilly:
You get 5% if your rent is in millions

Rents are in millions na, except if you have just one tenant

emmanuelewumi:



They are paying for their time, services rendered and comfort.

A member of this thread who is in Kaduna had a house in Lagos. Do you expect him to be phoning his tenants for the payments of their rents, attend to complaints about the house. It is better to outsource such to a third party.

Although the person later sold the property and invested the proceeds in a stress free Investment

I never said don’t outsource to third parties o. I said lawyers add no value for the fees. You are better off giving that money to a trusted caretaker vs a lawyer. Lawyer go siddon him office and collect your rent then deduct 10 per cent for issuing receipt. Isn’t that madness?

Then when you go to him to evict one stupid tenant, he will send you one crazy bill

Sniper4real:
If you know someone loves having latest car.

2021 Mercedes Maybach $250,000 is available


Check my profile

So you get 2021 Maybach and you still come here to dey beg with one old format wey you dey use since last year abi?

Lazyyouth4u:


So you get 2021 Maybach and you still come here to dey beg with one old format wey you dey use since last year abi?

I trust our undercover agent will dig this out

Lazyyouth4u:


I never said don’t outsource to third parties o. I said lawyers add no value for the fees. You are better off giving that money to a trusted caretaker vs a lawyer. Lawyer go siddon him office and collect your rent then deduct 10 per cent for issuing receipt. Isn’t that madness?

Then when you go to him to evict one stupid tenant, he will send you one crazy bill

I don't ask my lawyer to give quit notice, he does the needful. He doesn't even want tenants to stay more than 5 years in the house, I am the one who tells him to take things easy

He gets more money by having new tenants after 5 years.