₦airaland Forum

emmasoft:
Currently it's still 4.5% becaus the benchmark SDF has not been reviewed upward.
Another meeting is coming up this July. It might be reviewed then.

For now Abacus rate is higher because the underlying asset particularly Tbills is doing better than previous year.
As at December last year Abacus was less than 1%.
You know this world na turn by turn

Actually VGIF has its unique features.

These unique features be like promise of paradise... guess it's more profitable to carry my mat queue behind the one whose turn it is oo...

If you know someone loves having latest car.

2021 Mercedes Maybach $250,000 is available


Check my profile

emmanuelewumi:
How will you differentiate the funds when you want to invest

You will use the account numbers to differentiate them. Since you are the one that knows your reason for opening them, you will be the one to know which account number is for which purpose....

libartay:
These unique features be like promise of paradise... guess it's more profitable to carry my mat queue behind the one whose turn it is oo...

It's not a bad idea.

Personally even though I have both mutual funds at any given time, I normally reduce my commitment to the fund that is low in rate at a particular time and commit more funds to the one where rate is up provided they both guaranteed my capital and a reasonable interest.

emmanuelewumi:
How will she differentiate the accounts when funding them

I will get back on this.

freeman67:
You will use the account numbers to differentiate them. Since you are the one that knows your reason for opening them, you will be the one to know which account number is for which purpose....

Most fund managers have just one ID number for their client

emmanuelewumi:
Most fund managers have just one ID number for their client

Yes for United Capital have just one ID number for their clients. All funds are linked to that number the only thing that changes is maybe the code of the the Fund written before the number. It seem so with FBN Quest too. Though I have asked United Capital about the possibility of having 2 accounts for same fund. FBN Quest has told me straight before that they don't.

However with Stanbic IBTC, they open their funds account like normal bank accounts so you can open more than one.

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?

emmasoft:
It's not a bad idea.

Personally even though I have both mutual funds at any given time, I normally reduce my commitment to the fund that is low in rate at a particular time and commit more funds to the one where rate is up provided they both guaranteed my capital and a reasonable interest.

Thank you

freeman67:
Yes for United Capital have just one ID number for their clients. All funds are linked to that number the only thing that changes is maybe the code of the the Fund written before the number. It seem so with FBN Quest too. Though I have asked United Capital about the possibility of having 2 accounts for same fund. FBN Quest has told me straight before that they don't.

However with Stanbic IBTC, they open their funds account like normal bank accounts so you can open more than one.

I am actually planning to close my money market fund account with FBN Quest Asset Management, their customer service is zero they won't reply mails, you don't have personal phone numbers of the account officers except the office land line

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

You wan make dem call you audio that you cannot have such car for sale abi

Mention car of $5,000 and see them clap for you that you are a correct car dealer.

Sniper4real:
If you know someone loves having latest car.

2021 Mercedes Maybach $250,000 is available


Check my profile

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?

90% of property owners get their rents themselves

Ahiboilandgas where are you, we miss your explicit business and investment knowledge here.

No you can get phone number of an account officer, request for it.

emmanuelewumi:
I am actually planning to close my money market fund account with FBN Quest Asset Management, their customer service is zero they won't reply mails, you don't have personal phone numbers of the account officers except the office land line

I was just laughing reading your message because the lawyer looking after my commercial house wanted to do same to me... He tried to convince me with every vocabulary he learnt in law school that having the tenants pay house rents into his account is more appropriate, I rejected his idea and increased his percentage for his job and he became quiet, till date.

Lawyers are very convincing, especially when it works in their own advantage, and most property owners don't do their home work and feel their tenants will be more compliant in paying their rents to lawyers instead of paying directly into their accounts.

A friend once told me that his lawyer became greedy and always delayed paying the huge sum his tenants paid into his account.

Money is very very tempting, not everybody has the discipline to stick to their initial promise/agreement, especially when huge sum are involved.

Lets be wise and well informed at all times.

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?

Donbrig:
I was just laughing reading your message because the lawyer looking after my commercial house wanted to do same to me... He tried to convince me with every vocabulary he learnt in law school that having the tenants pay house rents into his account is more appropriate, I rejected his idea and increased his percentage for his job and he became quiet, till date.

Lawyers are very convincing, especially when it works in their own advantage, and most property owners don't do their home work and feel their tenants will be more compliant in paying their rents to lawyers instead of paying directly into their accounts.

A friend once told me that his lawyer became greedy and always delayed paying the huge sum his tenants paid into his account.

Money is very very tempting, not everybody has the discipline to stick to their initial promise/agreement, especially when huge sum are involved.

Lets be wise and well informed at all times.

You nailed it my brother.

XiaoLi:
No you can get phone number of an account officer, request for it.

Do you have an account with FBN Quest Asset Management?

Donbrig:
I was just laughing reading your message because the lawyer looking after my commercial house wanted to do same to me... He tried to convince me with every vocabulary he learnt in law school that having the tenants pay house rents into his account is more appropriate, I rejected his idea and increased his percentage for his job and he became quiet, till date.

Lawyers are very convincing, especially when it works in their own advantage, and most property owners don't do their home work and feel their tenants will be more compliant in paying their rents to lawyers instead of paying directly into their accounts.

A friend once told me that his lawyer became greedy and always delayed paying the huge sum his tenants paid into his account.

Money is very very tempting, not everybody has the discipline to stick to their initial promise/agreement, especially when huge sum are involved.

Lets be wise and well informed at all times.

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

Yes i do, you once advised me to open MMF account with them, forgot?

emmanuelewumi:
Do you have an account with FBN Quest Asset Management?

XiaoLi:
Yes i do, you once advised me to open MMF account with them, forgot?

Seun was my account officer, very good guy. He personally gave me his number and he called regularly, since he left the firm about 6 months ago, I have not been enjoying their service again

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?

The same thing happens in my case. They collect the rent, remove 10% and remit balance to my account. The annoying aspect is asking me to pay a lawyer who will process quit notice in court against a defaulting tenant.

That's a pity, everything Firt Bank is slow, you have to add a little gingering for them to take you serious, i believe you should get a new and dedicated account officer if you request for one, just make it clear to them that you are a kind of customer that require much attention on your investments and you would need an account officer who is ever ready to assist whenever called upon, you should be fine.

emmanuelewumi:
Seun was my account officer, very good guy. He personally gave me his number and he called regularly, since he left the firm about 6 months ago, I have not been enjoying their service again

I receive my rent directly into my account and send my lawyer's commission to him, I don't have direct communication with my tenants, i learnt it from this thread.

keeper303:
The same thing happens in my case. They collect the rent, remove 10% and remit balance to my account. The annoying aspect is asking me to pay a lawyer who will process quit notice in court against a defaulting tenant.

keeper303:
The same thing happens in my case. They collect the rent, remove 10% and remit balance to my account. The annoying aspect is asking me to pay a lawyer who will process quit notice in court against a defaulting tenant.

That is the normal practice, if you have more than two Investment properties you can negotiate to 5%.


Who screened the tenants? If the defaulting tenant was screened by the lawyer, the legal fees for the eviction of the tenant will be reduced.

Tenants fear the lawyer more than the property owners

XiaoLi:
I receive my rent directly into my account and send my lawyer's commission to him, I don't have direct communication with my tenants, i learnt it from this thread.

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.

emmanuelewumi:
That is the normal practice, if you have more than two Investment properties you can negotiate to 5%.


Who screened the tenants? If the defaulting tenant was screened by the lawyer, the legal fees for the eviction of the tenant will be reduced.

Tenants fear the lawyer more than the property owners

The estate agent screened the tenant and put them in the house. He only paid their rent into my account after collecting his 10% commission. Now he wants me to pay litigation charges but I refused. Please lawyers in the forum should throw more light on this issue.

You are right Sir, my lawyer does everything, only house rents are paid directly into my account. I stopped dealing directly with my tenants ever since I discovered how complicated tenants could be, they always think they are doing me lots of favour by paying their house rents.

Tenants often complains of irrelevant issues once their house rents are about to expire.... My lawyer is up to their task.

Hmm I pray to get to that stage when I have to employ the services of law firms or property management firms to look after my properties, but for now, God is still working on my success, little by little.

On the other hand, I don't think it is belittling asking tenants to pay their rents, it is a normal thing in saner climes, just that most Nigerians don't like paying up bills/debts and taking full responsibility.

Tenants are humans though, I have seen some tenants who are really doing better in life than their landlords.

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

keeper303:
The estate agent screened the tenant and put them in the house. He only paid their rent into my account after collecting his 10% commission. Now he wants me to pay litigation charges but I refused. Please lawyers in the forum should throw more light on this issue.

It is plus or minus, you either give the tenant enough time till he is ready to pack out or you get another lawyer to handle the litigation if it is cheaper

Donbrig:
You are right Sir, my lawyer does everything, only house rents are paid directly into my account. I stopped dealing directly with my tenants ever since I discovered how complicated tenants could be, they always think they are doing me lots of favour by paying their house rents.

Tenants often complains of irrelevant issues once their house rents are about to expire.... My lawyer is up to their task.

Hmm I pray to get to that stage when I have to employ the services of law firms or property management firms to look after my properties, but for now, God is still working on my success, little by little.

On the other hand, I don't think it is belittling asking tenants to pay their rents, it is a normal thing in saner climes, just that most Nigerians don't like paying up bills/debts and taking full responsibility.

Tenants are humans though, I have seen some tenants who are really doing better in life than their landlords.

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?

emmanuelewumi:
I am actually planning to close my money market fund account with FBN Quest Asset Management, their customer service is zero they won't reply mails, you don't have personal phone numbers of the account officers except the office land line

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.