₦airaland Forum

Monthly is the best... In ivory coast here is monthly

lomprico:
Yearly is better o!

The hypertension comes once a year but if u pay monthly na monthly hypertension be dat o!

Lolss. 😀😀

Vinnie2000:
Lolss. 😀😀

Abi o

eldoradoxx:
It is a criminogenic society like Nigeria that yearly rent is the order of the day. In the advanced world, it is sometimes weekly or even monthly. Must i rent an entire house in say Lagos for 1 year when i know that i just want to be in Lagos for like two months and go to another state for my work etc. People are unable to move from state to State to do different jobs to earn a living because they tied down by a year's rent in one State and unable to afford to work in another state.. Yearly rent would make a tenant save for the whole year and invest it in rent while in monthly rent , you can invest your annual rent into your business and use profit from it to pay your monthly rent.

Very Great POINT from You.👍👍

This Thing is Like WASTE. That's Why I envied the Guy paying Monthly Rent! 😏😕

Saving to Pay a Huge SUM as Rent, that can be used to Start Business or Make a Good Investment! 😒🙁

Vinnie2000:
I Met a Guy who said he Pays his Rent (N15000) Every MONTH.
Dat his Landlady's says that's her Style.🙂

I Personally Wished Mine was like this, as I Pay YEARLY (A Six-Figure amount).😒

I Talked to another person who said that Guy is WASTING his Money and would not grow Financially! 😯🤨🙁

So Which is BEST?
Paying MONTHLY or Paying YEARLY? 🤔🙂

.
Thanks!

monthly payment is how it should be... Even abroad it's monthly cos u earn monthly na say we do things anyhow in Nigeria... How is he wasting money...

jieta:
really? My friend is better to build that to buy, although there are rich people who can dole out 15 to 20 million to buy house.

Bro personally i don't fancy the idea of paying for rent be it yearly or monthly.
During my year 1 (2013) in school i bought a room and parlour apartment for 1.6m after graduation in 2017 i sold it for 3mill. To a lecturer...... Anything rentage is not my thing.

Vinnie2000:
Hehehehe.

In my Delta State axis, to BUILD house Ain't a Joke!😏

Only YAHOO Boys in the State Builds House within Short Notice! 😒

Before You Buy the Land, Pay Different Levies/Payments the Community Boys Demand from you,
You have Already SPENT up to N25 Million! 🙁😔😔

u want do Yahoo too...

Vinnie2000:
I Talked to another person who said that Guy is WASTING his Money and would not grow Financially! 😯🤨🙁

So Which is BEST?
Paying MONTHLY or Paying YEARLY? 🤔🙂

.
Thanks!

One will not grow financially because he’s paying is rent monthly. Your friend made me laugh…….Nigerian mentality

It should be a thing of choice but in Nigeria the landlord will want to cash out every penny from you on yearly basis.

Why will i pay 1 millon or N500k to a landlord at once where i can invest it in a good business and be paying monthly with profit made?

Nigeria mentality always facing poverty establishment

Actually, a monthly payment generally benefits the property owner more. Anyone that understands finance knows that the money at hand today is worth more than the same amount tomorrow. The money you pay him in January could get him a few extra bucks by December and this would help to counter the effect of inflation. Again, monthly payment almost always implies monthly lease contract as well. This also gives your landlord (and yourself) more flexibility. Any party can end the lease at any time (not always the case though).

On your side, it pays you more to hold on to your money as long as possible, provided the amount isn't subject to change by year end. This way, you can earn some interest on your money before giving out the principal. You just need to be principled enough to set it aside every month (this is why some companies delay salary payment).

But then again, it all depends on individual situations.

iLoveYouToo:
Monthly is better. 1year lease but monthly payments

Yeah, but this is like eating your cake and still having it. A property owner that accepts monthly payment would want a monthly lease term as well.

etrange:
Actually, a monthly payment generally benefits the property owner more. Anyone that understands finance knows that the money at hand today is worth more than the same amount tomorrow. The money you pay him in January could get him a few extra bucks by December and this would help to counter the effect of inflation. Again, monthly payment almost always implies monthly lease contract as well. This also gives your landlord (and yourself) more flexibility. Any party can end the lease at any time (not always the case though).

On your side, it pays you more to hold on to your money as long as possible, provided the amount isn't subject to change by year end. This way, you can earn some interest on your money before giving out the principal. You just need to be principled enough to set it aside every month (this is why some companies delay salary payment).

But then again, it all depends on individual situations.



Yeah, but this is like eating your cake and still having it. A property owner that accepts monthly payment would want a monthly lease term as well.

1 year lease that terminates upon default , this guarantees your landlord won’t leave you hanging, neither would you leave your landlord hanging.

I’ve seen people who couldn’t save to make their entire 1 year rent, this I’ve seen over and over.

I’m definitely for monthly rent payments but with a guarantee of 12 month renewal allowance

Annual rentage wildly practiced in Nigeria is one of the reasons why we're not having serious homeless crises here.

The homelessness issue in the US will be a child's play when we starts monthly rentage with this kind of economy we are having.

Jennyclay:
Paying yearly is better.

I don't really see the value of paying rent monthly anyway. I feel people who pay rent monthly are poor and struggling people.

I mean, why not pay yearly so you could have time to breathe and save up for the next payment when your rent is due.

Monthly rent payments is total rubbish. What if you lose your monthly salary job on a long run or your business collapse How would you pay for the next month rent

Nigerians and their crazy, rectally-generated opinions/beliefs/conclusions!

Is monthly rent payment not the standard abroad where most of yoy are dying to go to

So, all the people paying monthly abroad are poor and struggling too??

As a landlord I can only accept monthly rent from a Nigerian if there is a bank standing order.

Excuse plenty even when it's yearly. The excuse go full warehouse when it's monthly

Paying yearly is better, paying monthly actually destabilises one's financial plans..

I just payed my rent now, so what it means is that I can focus on solving my other financial duties/responsibilities, and only start thinking of saving for another rent halfway into my tenancy (I can save up for my yearly rent in four months).
If I were paying monthly, rent will constantly be on my mind and hence; it will always prevent me from making certain financial decisions and investments.

People saying monthly might be those paying ₦2500 or ₦3500 in one room face me I face you house.

if you are paying 100k and above you'll know that paying yearly is better and you will have rest of mind after payment.

rickleye:
To add - same with salaries most developed economies pay bi -weekly . We are stuck on monthly. People would owe other people till pay day especially December to January. Longest time between pay days. Just pay people every 2 weeks. It will reduce debts. And people can plan and have access to their money.

I work abroad and my pay is monthly

Darkseid:
Personally I hate small frequent expenses. I will even prefer to save up and pay three years rent upfront and then remove it from my mind while I focus on other things.

I f**king hate small expenses. Like it's easier for me to pay 100k for a yearly internet subscription than for me to pay 5k monthly.

That is because you don't know how money works and you have not learned about the time value of money

etrange:
Actually, a monthly payment generally benefits the property owner more. Anyone that understands finance knows that the money at hand today is worth more than the same amount tomorrow. The money you pay him in January could get him a few extra bucks by December and this would help to counter the effect of inflation. Again, monthly payment almost always implies monthly lease contract as well. This also gives your landlord (and yourself) more flexibility. Any party can end the lease at any time (not always the case though).

On your side, it pays you more to hold on to your money as long as possible, provided the amount isn't subject to change by year end. This way, you can earn some interest on your money before giving out the principal. You just need to be principled enough to set it aside every month (this is why some companies delay salary payment).

But then again, it all depends on individual situations.



Yeah, but this is like eating your cake and still having it. A property owner that accepts monthly payment would want a monthly lease term as well.

you are thinking inversely. Have you forgotten that you pay rent upfront and not in arrears? So where is the benefit of paying yearly?

Jughead29:
It should be a thing of choice but in Nigeria the landlord will want to cash out every penny from you on yearly basis.

Why will i pay 1 millon or N500k to a landlord at once where i can invest it in a good business and be paying monthly with profit made?

Nigeria mentality always facing poverty establishment

Very SMART Reasoning.🤔👍👍👍

I should start looking for a Nice House where I can pay Monthly Rent! 🤨🙂

Vinnie2000:
But the person I spoke to, Said Paying Monthly DESTABILIZES one's Financial plans. 🤨😒

That under YEARLY, you can save Large amount for Investment
During that One year Waiting period! 🤔🙂

Bro monthly is better if you have stable income...

If rent in Nigeria, especially Lagos was monthly, most people Underbridge will be living at home.

Nigeria is too terrible to save 500k in a year.

Offpoint1:
Bro monthly is better if you have stable income...

If rent in Nigeria, especially Lagos was monthly, most people Underbridge will be living at home.

Nigeria is too terrible to save 500k in a year.

My Brother, Many Pple can't SAVE their 200k or 300k Yearly rent.😟

When it's time, they Start Running from PILLAR to POST.😔😏

Isn't It Better if the Person is paying 20k or 25k MONTHLY? 🤔🙂

Vinnie2000:
My Brother, Many Pple can't SAVE their 200k or 300k Yearly rent.😟

When it's time, they Start Running from PILLAR to POST.😔😏

Isn't It Better if the Person is paying 20k or 25k MONTHLY? 🤔🙂

Fact, most only remember rent a month to its expiration date...

SSpeter:
I work abroad and my pay is monthly

You’re definitely in the minority.

North America or Europe if I may ask.
And are you SMB ? Small or medium business?

Some companies even pay weekly due to high turn over of staff . ( Walmart , UPS, logistics companies , warehouse , telemarketers etc )

Good 2know

Vinnie2000:
I Met a Guy who said he Pays his Rent (N15000) Every MONTH.
Dat his Landlady's says that's her Style.🙂

I Personally Wished Mine was like this, as I Pay YEARLY (A Six-Figure amount).😒

I Talked to another person who said that Guy is WASTING his Money and would not grow Financially! 😯🤨🙁

So Which is BEST?
Paying MONTHLY or Paying YEARLY? 🤔🙂

.
Thanks!

I will prefer yearly, so that I can plan others things

These days, end of the month runs faster and it's like you must pay him at exactly end of the month

But once a year is far and it gives me time to plan ahead for rent and other things like school fees and building project

Vinnie2000:
I Met a Guy who said he Pays his Rent (N15000) Every MONTH.
Dat his Landlady's says that's her Style.🙂

I Personally Wished Mine was like this, as I Pay YEARLY (A Six-Figure amount).😒

I Talked to another person who said that Guy is WASTING his Money and would not grow Financially! 😯🤨🙁

So Which is BEST?
Paying MONTHLY or Paying YEARLY? 🤔🙂

.
Thanks!

In Benin Republic it's a norm.
Yearly rent stresses tenant pocket and gives landlord bulk money which can be used for something important or a major investment, but when the money finish Im eye go dey chuke. But monthly rent eases stress on tenant , and landlord too go dey chop him own as you go.
Pay as you go. Bash Bash

SSpeter:
you are thinking inversely. Have you forgotten that you pay rent upfront and not in arrears? So where is the benefit of paying yearly?

Ok... in that case, everything I said still stands but with the parties switched.

Countersam:
In Benin Republic it's a norm.
Yearly rent stresses tenant pocket and gives landlord bulk money which can be used for something important or a major investment, but when the money finish Im eye go dey chuke. But monthly rent eases stress on tenant , and landlord too go dey chop him own as you go.
Pay as you go. Bash Bash

👍👍. Good Analysis!

Paying rent to a landlord is a global scam


I don't get y people pay for a natural resource

It should be free for all

Live in your car until you can afford to buy land

Puss360:
Both of them has their pros and cons... but it all boils down to your source of income and how money enters your hand...
Salary earners... monthly... but because of our country's tendency to owe workers salary, then it's better to pay every 3 months, or 6 months...
Reason is that, most times, salary is always fixed.. so by deducting some amount monthly for rent, you will get used to it...
But paying yearly doesn't really favour salary earners, coz in most cases, your yearly rent is always more than your one month salary.. that means, there's always tension when it's time to pay rent...

While, Business people, yearly is better...
Coz their case is an example of "money no dey today, e go dey tomorrow"....

The rule of the thumb for salary earners is that your rent shouldn't be higher than your 3 months salary.

If your company pays you 13 months salary as some companies do, it's an added advantage cos you'd have 10 months pay to sort out yourself and family.

Yeah monthly rent payment means one month quit notice