₦airaland Forum

Hello me fellow Nairalander... Am a young Bachelor in my early thirties, 32 to be precise.
A graduate from Uniport, served 2019.
Currently I have my own establishment JD Logistics right in Lagos.
Still small but I will say we are trying. I had a rider as of last yr, had to stop him sometime this yr when he started misbehaving and not remitting cash collected, so right now am currently managing the business all by myself, Hoping to get another rider next yr.
So back to the main topic at hand... I live in a Mini flat (thats what we call a room and parlor self-contain in Lagos) at Egbeda in Lagos, I have been a tenant her since 2016. The rooms are spacious. Nice area as all the roads are tared, power supply is very steady, haven't had reason to on my gen for over 3months plus now, there's water , there's a super market and the grand floor, it's a 2 storey building and am on the second floor. And security is tight, u can sleep with your doors open.
So about a year ago the property was handed over to lawyers to manage it.
Just last week I was handed a letter of increment...
The rent is being increased from N200,000 to N400,000 thousand naira and am to commence payment on my next rent starting from 1st September 2023.
I haven't been able to take this new development likely as I feel very uncomfortable right now...
I have called the lawyers to ask why 100% increment with the difficult situation We all are facing presently in this country, He just said thats the instructions given to them.
So my fellow Nairalanders, I haven't really been in a situation like this hence why I have to come and seek for advice from you all.
How do I go about this?
I make over 100k+ monthly outside expenses, feeding, family wahala and repairs. So to an extent I can still pay the new rent. But
If after all negotiations and they insist on N400k , is it wise for someone my age, still single to pay a rent of N400k.?
All advice and criticism are welcome... Thanks

S

trent101:
Hello me fellow Nairalander... Am a young Bachelor in my early thirties, 32 to be precise.
A graduate from Uniport, served 2019.
Currently I have my own establishment JD Logistics right in Lagos.
Still small but I will say we are trying. I had a rider as of last yr, had to stop him sometime this yr when he started misbehaving and not remitting cash collected, so right now am currently managing the business all by myself, Hoping to get another rider next yr.
So back to the main topic at hand... I live in a Mini flat (thats what we call a room and parlor self-contain in Lagos) at Egbeda in Lagos, I have been a tenant her since 2016. The rooms are spacious. Nice area as all the roads are tared, power supply is very steady, haven't had reason to on my gen for over 3months plus now, there's water , there's a super market and the grand floor, it's a 2 storey building and am on the second floor. And security is tight, u can sleep with your doors open.
So about a year ago the property was handed over to lawyers to manage it.
Just last week I was handed a letter of increment...
The rent is being increased from N200,000 to N400,000 thousand naira and am to commence payment on my next rent starting from 1st September 2023.
I haven't been able to take this new development likely as I feel very uncomfortable right now...
I have called the lawyers to ask why 100% increment with the difficult situation We all are facing presently in this country, He just said thats the instructions given to them.
So my fellow Nairalanders, I haven't really been in a situation like this hence why I have to come and seek for advice from you all.
How do I go about this?
I make over 100k+ monthly outside expenses, feeding, family wahala and repairs. So to an extent I can still pay the new rent. But
If after all negotiations and they insist on N400k , is it wise for someone my age, still single to pay a rent of N400k.?
All advice and criticism are welcome... Thanks

Is the house worth it..

Where in egbeda, is it fenced estate

I was surprised to see a mini flat at 200k rent in Egbeda, that I had to re-check, that's such a steal-price!

Well, it's sad they have increased over 100% but it is actually still a fair price compared to what is obtainable at the moment.

So my advice is, to negotiate with the lawyer to help you cut it to 320- 350k as that is what you can comfortably pay and plead with him to consider that your business is still in the early stage. Because you would not get something as cheap as the price he is quoting with the infrastructure you mentioned and area .

Even with your money for hand, getting a decent house is stressful, with these crook agents trying to extort claims of the inspection fees, Agreement and commision , almost half the rent.

ThaRealist:
I was surprised to see a mini flat at 200k rent in Egbeda, that I had to re-check, that's such a steal-price!

Well, it's sad they have increased over 100% but it is actually still a fair price compared to what is obtainable at the moment.

So my advice is, to negotiate with the lawyer to help you cut it to 320- 350k as that is what you can comfortably pay and plead with him to consider that your business is still in the early stage. Because you would not get something as cheap as the price he is quoting with the infrastructure you mentioned and area .

Even with your money for hand, getting a decent house is stressful, with these crook agents trying to extort claims of the inspection fees, Agreement and commision , almost half the rent.

Thanks so much sir... I have talked with the lawyer and we settled for N300,000

juliusijidola:
Is the house worth it..

Where in egbeda, is it fenced estate

I will say it's worth it...
Its in Unity Estate... Around Orelope bus stops.

trent101:
I will say it's worth it...
Its in Unity Estate... Around Orelope bus stops.

Unity is a popular place, anyway considering what agent charge those days, I would say you should stay put...

trent101:
Thanks so much sir... I have talked with the lawyer and we settled for N300,000

Shey you won't give me his number...

I'm looking for an apartment too

trent101:
Thanks so much sir... I have talked with the lawyer and we settled for N300,000

start saving to build urs