₦airaland Forum

@spyder880 The fact that a law has been passed against the practice of demanding/collecting 2 years rent is enough to indicate that this is wrong. Don't encourage it. The truth of the matter is that real estate in Nigeria especially Lagos State has is far from practical or even fair, and is a breeding ground for criminal and fraudulent activities.

For clarity sake I have not agreed to anything. I simply want to get a place to stay and have to deal with these people imposing conditions on me. Yes, I am negotiating to get what is suitable but that does not amount to me agreeing to be ripped off. The problem is people want to make money fast.

What are the agents doing that should amount to the potential tenant having to pay 10% of rent of 2 years? To an extent I feel for the estate agents, as they make contact and take the clients for viewing. Yes they should get renummeration for that. But the very act of adding spin to magnify the cost to the potential tenant is just like taking advantage of the situation. And to make matters worst, the legal coming in as a middle layer just takes the meeky of the whole process. I simply do not see why a tenant should have to pay legal fees up to 10% all in the name of a tenancy agreement that is just a template document to ensure fair practice on both sides

In my world-wide experience, it is only a matter of time before the bubble will burst. These practices are just symptoms of a failed system. It's only a matter of time before something will have to give way. This is applicable to the whole real estate in general. The rate at which cost of property is going up, the unsustainable interest on mortgages, Basically, all these just leave the real estate environ accessible mostly to the privileged ie those who have access to funding beyond honest incomes.

Then God have answered your prayer, just print out this law and take it along with you.

Please inform this forum your outcome.

We want to know if this law will be enforced or not.

Please dont forgate to threat them of going to court or police station if a year lent is not recived from you.

Waiting for your outcome.

@Rastaman20 My guess is even if this law can be enforced, the 2 year will have to have been paid and evidence of receipt obtained. People can't be prosecuted just because someone says "they attempted to get 2 years rent of me"

I'm not sure threats will go far either as the agents can always turn back and say "Sorry, the property is taken"

Someone seemed to indicate that both the receiver and the payer of 2 year will be liable for prosecution - I think that does not make much sense to me as the payer is the victim in this scenario

If i were you, i would quickly go and pay the 2 years rent, cos this law/bill is just as useless as the toilet papers in the court house in Lagos, that is if they have any anyways

@Fhemmy Why is it that once a client views property being sold or for rent, the agents always come up with some sort of story that pressurises the person to pay up quickly?

[tr]@ microvine, please explain what you mean by the agents making you pay for 2 years commission. I have been an agent and we only collect a particular percentage of the rent you paid as commission, not by number of years you paid. Waiting for your answer.[/tr]

@spyder880 - Landlord wants 2 years, I was negotiating to pay 1 year now and 1 year at end of month. Agents wanted their percentage of rent for 2 years upfront

I am currently trying to get a place in Lekki and these sharks are still trying to bleed me dry. Even today I was refused a place coz I do not have 2 years to pay. In my ignorance I was even offering to pay next year at end of month and they refused. I’m not sure if it is the estate middle guys or landlords that are it, maybe both. The agents were even trying to get me to pay 2 years commission for a place. Imagine !!!

Is it still available?

Pls contact admin@microvinesolutions.com. Ready to move soon if agreement reached