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Nairaland Forum / Nairaland / General / Properties / Reps Move To End Annual Rent Payment In Abuja (20503 Views)
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Reps Move To End Annual Rent Payment In Abuja by Emelcee: 10:14am On May 16 |
π₯ππ£. ππ π ππ‘π¨ππ π¨ππ£π’π‘π-π¨ππ’ ππ‘π§π₯π’ππ¨πππ¦ π π’π§ππ’π‘ π§π’ ππππ₯ππ¦π¦ ππ’π¨π¦ππ‘π ππ₯ππ¦ππ¦ ππ‘ πππ§ β’β’β’πΊππππ πππ π°πππππππππππππ ππ π΄ππππππ πΉπππ πΊπππππ ππ π¬πππ πππππππππ π©πππ ππ ππ π»ππππππ In response to the escalating housing crisis in Nigeriaβs Federal Capital Territory (FCT), Abuja, a member of the House of Representatives, Rt. Hon. Emmanuel Ukpong-Udo (PhD), representing Ikono-Ini Federal Constituency in Akwa Ibom State, has introduced a motion aimed at transforming the rental landscape in the nationβs capital. Titled "Implementation of Monthly Rent to Encourage Inclusive Rental System and Curb Arbitrarily Increase in House Rent in the Federal Capital Territory," the motion seeks, among other things, the Implementation of a monthly rent system to alleviate the financial strain on tenants. Rep. Ukpong-Udo highlighted several critical issues affecting tenants in the FCT. Among the primary concerns is the common practice of landlords demanding at least one yearβs rent upfront, with some requiring as much as two yearsβ payment in advance. This system imposes a significant financial burden on tenants, especially those with limited incomes. The cost of renting properties in the FCT is alarmingly high, with one-bedroom apartments costing between 1 to 1.5 million naira per year, two-bedroom apartments ranging from 2 to 3 million naira per year, and three-bedroom apartments well over N3.5 million per year. In addition to these steep rents, tenants face exorbitant additional charges, including legal fees (up to 20% of the rent), agency fees (5-10%), service/maintenance fees (N150,000 and above), and caution fees (ranging from N150,000 to N400,000). Rep. Ukpong-Udo emphasised that civil servants and artisans are already dealing with numerous economic challenges, following the removal of fuel subsidies, rising foreign exchange rates, increased electricity tariffs, and higher taxes and levies. These factors exacerbate the difficulty of managing high rental costs, making it imperative to address the housing issue urgently. To tackle these pressing issues, the motion proposes the implementation of an inclusive rental system that allows for affordable monthly rental payments. This approach aims to provide tenants with greater flexibility, improve cash flow management, offer reasonable move-out options, and ensure a stable income stream for landlords. Furthermore, the motion calls for government intervention to formulate policies that regulate house rents and landlord activities in Abuja. It also advocates for the construction of affordable low-cost houses and estates specifically for civil servants, helping to reduce the financial strain on those who serve the community. The motion urged the Federal Ministries of Housing and Habitat and Works to prioritize the construction of affordable housing for civil servants. It also mandates the Committee on Housing and Habitat and Works to ensure compliance with these objectives. By implementing these measures, the motion aims to create a more equitable and manageable rental market in the FCT, ultimately improving the quality of life for hardworking civil servants and artisans. https://www.premiumtimesng.com/news/top-news/694767-reps-move-to-end-annual-rent-payment-in-abuja.html#:~:text=The%20House%20of%20Representatives%20has,it%20with%20a%20monthly%20system. 7 Likes 1 Share
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Re: Reps Move To End Annual Rent Payment In Abuja by Pierocash(m): 10:24am On May 16 |
This people don't realize what they are trying to do. Should they introduce this madness , watch how rent of 30k a month will jump to 100k a month. Which is worse, the monthly or yearly. Nigeria is one of the few countries where accomodations is affordable because of its yearly payment system. Just do mistake and introduce that monthly system and watch how landlord will gradually increase the rent by 5x before you realize it, the money that is usually used for yearly rent payment will become monthly. This guys don't have sense 175 Likes 10 Shares |
Re: Reps Move To End Annual Rent Payment In Abuja by fineboynl(m): 10:29am On May 16 |
All this after tinubu destroyed the Nigerian economy. 10 Likes |
Re: Reps Move To End Annual Rent Payment In Abuja by jmoore(m): 10:33am On May 16 |
Monthly tenant = 7 days notice to quit. 32 Likes |
Re: Reps Move To End Annual Rent Payment In Abuja by ChristCee: 10:35am On May 16 |
Pierocash:Valid points raised. But don't you think they might make regulations to moderate pricing too? 16 Likes 1 Share |
Re: Reps Move To End Annual Rent Payment In Abuja by mushroomFarm: 10:37am On May 16 |
Fun fact. In Russia, federal school hostel A room, 24/7 fast wifi, washing machine and laundry equipments, gym equipments, 24/7 electricity, a kitchen with microwave, fridge and deep freezer (that we rarely use since temperature outside is about ten times colder than the freezer in winterπ) Toilet and bath with 24/7 cold and boiling water tap (kitchen too) 24/7 central heating in the room All these facilities mentioned for two students per apartment. Guess how much we pay per month? Well in my school it is 'expensive' and we only pay 1250 rubles a month. Approximately 15k naira. Some federal schools in Moscow students pay $400 rubles a month about 5 to 6k depending on the rate of naira. The way I stream movies, football, games and several medical videos, honestly I wonder if I can ever survive in Nigeria again . Food is expensive in my city but a whole wild bird (tastes like old layers and duck, about the size of a prime layers) is 240 rubles. About 3.5k . Can 3.5k buy a complete chicken in Nigeria even if it is layers? I pray God helps the current president to build up our economy and solve our infrastructure problems. To make studying easier. All my African brothers work at the same place. It's like we got the contract to do the dishes at the restaurant. If you need money or you are broke, just tell the African brothers you want to wash today or maybe tomorrow cux you need money. Regardless everyone has a day in a week that they must go and work. 6pm to 4am. 2,400 rubles. Which means the wage from a job of about 8 hours can buy 10 complete chicken/wild bird. This is what a good economy is, I believe. I am a United States fan (but not England and colonialists) but I believe if Russia had decided to colonize just one African country, that country would have been the number one most successful African country today. Forget Baba Tinubu. The English people are the originator of our problems. 103 Likes 8 Shares |
Re: Reps Move To End Annual Rent Payment In Abuja by Kingray10: 10:56am On May 16 |
Every unoccupied, building with high rent should be taxed a very huge amount. 6 Likes 1 Share |
Re: Reps Move To End Annual Rent Payment In Abuja by jmoore(m): 10:58am On May 16 |
ChristCee:Because the government gave landlords free cement to build houses? 47 Likes 1 Share |
Re: Reps Move To End Annual Rent Payment In Abuja by helinues: 11:02am On May 16 |
Not bad |
Re: Reps Move To End Annual Rent Payment In Abuja by Pierocash(m): 11:20am On May 16 |
ChristCee:if they have the right template for regulations, Nigeria's inflation won't be at this rate . Why haven't they regulated it to curb incenssant rent increment before now 16 Likes |
Re: Reps Move To End Annual Rent Payment In Abuja by ChristCee: 11:28am On May 16 |
Pierocash:πππTrue. 3 Likes |
Re: Reps Move To End Annual Rent Payment In Abuja by ChristCee: 11:29am On May 16 |
jmoore:. Nah just regulations to prevent them from making it twice of what it is supposed to be if it were to remain on annual billing. |
Re: Reps Move To End Annual Rent Payment In Abuja by NothingDoMe: 11:49am On May 16 |
I thought he was talking about the "Aso Rock Rent" 2 Likes 2 Shares |
Re: Reps Move To End Annual Rent Payment In Abuja by Jamestown123: 11:59am On May 16 |
mushroomFarm:Omo I saw university of Novosibirsk dorm I shock. Clean, 24/7 WiFi, laundry and other amenities all for just $27 a month, I won mad. 9 Likes 1 Share |
Re: Reps Move To End Annual Rent Payment In Abuja by Paraman: 12:06pm On May 16 |
Annual rent payment is cheaper than paying per month 17 Likes 3 Shares |
Re: Reps Move To End Annual Rent Payment In Abuja by blackmantis: 12:16pm On May 16 |
mushroomFarm: I'd love to visit Russia but for the language barrier. 2 Likes 3 Shares |
Re: Reps Move To End Annual Rent Payment In Abuja by Cmanforall: 12:23pm On May 16 |
Is that Reps duty? Maybe because they rent houses in Abuja for themselves and friends. Let it be optional, monthly or yearly. What if the tenant can't pay next month, considering the Nigerian situation? 4 Likes |
Re: Reps Move To End Annual Rent Payment In Abuja by NaijaSumigan: 12:23pm On May 16 |
Those Reps have nothing to offer. All they do best is steal and keep stealing. I sincerely pity Nigeria as a Country. Her political leaders are terrible and extremely senseless beings. They all are cursed 10 Likes |
Re: Reps Move To End Annual Rent Payment In Abuja by Made2Last: 12:24pm On May 16 |
Una wan kill real estate agents be dat na 3 Likes 1 Share |
Re: Reps Move To End Annual Rent Payment In Abuja by BluntCrazeMan: 12:27pm On May 16 |
Better.. They should make it quarterly abbegg.. (Or even bimonthly) For the whole of Nigeria. |
Re: Reps Move To End Annual Rent Payment In Abuja by ceejay80s(m): 12:27pm On May 16 |
Rubbish.... They are not moving to reduce it cost ,they all have houses everywhere. But the move to make it monthly payment 7 Likes 1 Share |
Re: Reps Move To End Annual Rent Payment In Abuja by Cmanforall: 12:27pm On May 16 |
Kingray10: You are bitter! Did you build the houses yourself? Or you don't know some people live abroad and build houses in citiesin case of their visits. Note some unoccupied houses were built with hard earned money 6 Likes |
Re: Reps Move To End Annual Rent Payment In Abuja by Ojemedad: 12:27pm On May 16 |
mushroomFarm: Why comparing student life that is subsidized to the average working man. You should mention the average cost of ordinary studio rent in Russia, the average salary. Iβm not a fan of Nigeria government but Russia is not it also, Russia is just one step ahead of Nigeria in terms of currency . Try convert your 2400 rubles per day work to dollar or euro and then you will know you are in a stupid country 6 Likes 1 Share |
Re: Reps Move To End Annual Rent Payment In Abuja by 72virginGATEWAY: 12:28pm On May 16 |
Black monkeys 1 Like 1 Share |
Re: Reps Move To End Annual Rent Payment In Abuja by Mpcoll001: 12:28pm On May 16 |
Yeyenatu |
Re: Reps Move To End Annual Rent Payment In Abuja by FeliciaOja(f): 12:28pm On May 16 |
These Politicians will use their hands to create that revolution that they afraid of https://www.youtube.com/watch?v=YA50h3loPOM?feature=shared 4 Likes 1 Share |
Re: Reps Move To End Annual Rent Payment In Abuja by Babalegba(m): 12:29pm On May 16 |
jmoore:Lol |
Re: Reps Move To End Annual Rent Payment In Abuja by OneCandleAway(f): 12:30pm On May 16 |
Is this even possible Except there is a way the landlord can stop facilities like water and electricity if you don't pay, Nigerian tenants that are wicked will just use it as opportunity to owe their landlord 4 to 6 months rent. Tenants are wicked oo. If you're a property owner that's when you'll understand from experience. The only alternative is if there is agreement between the landlord and the tenants workplace and the rent is deducted from salary before it gets to the tenant. 11 Likes |
Re: Reps Move To End Annual Rent Payment In Abuja by Cmanforall: 12:30pm On May 16 |
jmoore: Ask them... Some people think building is cheap Even the cost of the land, Rods etc. If they make it monthly rents, you'll see people moving every month. Some Nigerians don't know what the yearly rent is doing for them. Monthly rent nay name so many people go hungry, once they receive their salaries, it'll go straight into rent Example Paying N1.2million in a 3 room apartment = 100k per month (less than 100 dollar per month) Such apartments will become minimum of 150k (100$) per month (N1.8 million per year) if this monthly rent is initiated. Then expect monthly increase as dollar increases 8 Likes |
Re: Reps Move To End Annual Rent Payment In Abuja by Godswillu(m): 12:30pm On May 16 |
It will not work. it is as simple as that buba marura tried it in Lagos and it did not work. must land lord prefer the bulk payment 1 Like |
Re: Reps Move To End Annual Rent Payment In Abuja by MEEVEET: 12:31pm On May 16 |
Monthly rent payments would make rents far far far more expensive Are this people dumb? Don't they think? 8 Likes |
Re: Reps Move To End Annual Rent Payment In Abuja by casualobserver: 12:31pm On May 16 |
When we elect daft people this is what you get. The countries where rent is paid monthly have monthly mortgages so the landlord pays his mortgage monthly from his monthly rent. The landlord does not build his house, he buys the house with a small deposit and pays a monthly mortgage. This man should Instead focus on his colleagues who are causing properties to rise in value because they are are laundering their Iβll gotten wealth purchasing Abuja properties and deliberately keeping them empty because they did t work to build them and they donβt want tenants who will expose the true landlords. 9 Likes |
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