₦airaland Forum

Not illegal

MasterJayJay:
Did cement companies negotiate with the landlords before increasing price of cement?

Oga keep quiet, na today they build the house. Even houses built in the 70s too be increasing rent astronomically. What's the rationale behind increasing a rent of 500k to 1.5m, if no be say them be thief, what happens to increasing at least to 700k, seriously housing needs regulation it's becoming crazy most especially in Lagos and Abuja

Tinubu reduced our purchasing power and increased every other things in the market without consulting Nigerians. If you are not ok with landlord decision pack your load and go to a more affordable apartment of your level.

Bobodee09:
It is unlawful and illegal for a landlord to unilaterally increase rent without first consulting or renegotiating the price with the tenant - Speed Darlington?s lawyer, Stan Alieke, says

Counsel to embattled singer, Speed Darlington, Stan Alieke, says that it is unlawful for any landlord to unilaterally increase their house rent.

According to Alieke, several courts in Nigeria have ruled in a plethora of cases that it is unlawful and illegal for a landlord to increase rent without consulting or renegotiating the price with the tenant.

they should go and build their own houses and negotiate with tenants. How many times did govt negotiate with Nigerians before hiking the prices of products?

Bobodee09:
The supporters of wicked landlords ....hope this will clear you.

Go and price a bag of cement first.
Let's not even talk about rods or granite

🤦🏽‍♂️

Larryfest:
Some houses have been built as far back as 20/25yrs ago and the landlord still uses this same line. Some don't even renovate their houses yet they keep increasing the rent every year. It shouldn't be so.

landlord property appreciate with inflation. It doesn't matter. Commercial property are built for investment and it follows inflation rate

MasterJayJay:
Did cement companies negotiate with the landlords before increasing price of cement?

The house he built when cement was probably N500? Price increase in cement should NEVER be the basis for increasing rent!

Bobodee09:
The supporters of wicked landlords ....hope this will clear you.

What is wicked about being a landlord, go and build your own if it’s easy, abi it’s the court or government that helps them to build their house.

JohnSP99:
Oga keep quiet, na today they build the house. Even houses built in the 70s too be increasing rent astronomically. What's the rationale behind increasing a rent of 500k to 1.5m, if no be say them be thief, what happens to increasing at least to 700k, seriously housing needs regulation it's becoming crazy most especially in Lagos and Abuja

What is the rational of increasing a bag of rice of 50k to 135k. Everything in the market is times 3 or 4 in most cases.
The earlier you know that building is an investment the better for you.

MasterJayJay:
Did cement companies negotiate with the landlords before increasing price of cement?

You dey mind a lawyer who can't even bail his client who has been ''imprisoned'' for months now without conviction.
His client has long exceeded the normal 48hrs of detention without court appearance.
Let him go sort that out first.

Fine, for yearly renters, serve them quit notice as soon as 6 months is left on the lease, once lease expires they are no longer tenants, serve them a one week letter of intention to repossess, at that point any tenant is free to sign a new lease with the new price.....Court cannot stop landlords from choosing not to renew a lease

It's happening right now in my compound.
Everybody is just crying

PresidObi:
You're correct. Any day the government decided to go against land investors, tenants will suffer badly. Landlords are the worst kinds of businessmen, very poor returns.

For a house you can still sell and make almost two to three times what you invested in it after collecting so much from rent. Na still the landlord house o!

expert555:
What is wicked about being a landlord, go and build your own if it’s easy, abi it’s the court or government that helps them to build their house.

Since you have comprehension issues am going to explain to you in elementary class way.

It only wicked landlords that increases rent every year....that my point.

MasterJayJay:
Did cement companies negotiate with the landlords before increasing price of cement?

Did you build the house with the current price of cement or with our old shillings, pound or even pence?

Instead of increasing the price, dey tell u to park out of his house

MasterJayJay:
Don't wait till you become a landlord before you understand the meaning of inflation and currency losing value.

Inflation is hitting everything, naira has been losing value and you think rent should remain static.

Dey play.

Not static. Just negotiate and come to an agreement.

Trustedpronet:
What is the rational of increasing a bag of rice of 50k to 135k. Everything in the market is times 3 or 4 in most cases.
The earlier you know that building is an investment the better for you.

So if a transporter tells you the reason for increasing bus fare everyday is because bus is now expensive known fully well the bus he using he bought it 20yrs does that make any sense to you

Building being an investment shouldn't warrant anyone increasing rent by 100% every year for christ sake.

Validated:
I do not believe that the law exists. Otherwise, landlords will just give tenants quit notices with the pretence to have the house renovated.

By God's grace, I am a landlord, and God graciously gave me some of the best tenants. However, whenever I am making any increase, I will pre-inform them through my lawyers and none has ever objected, because my rents are clearly within or below going rents.

God bless you for been a good landlord.

I normally wait 3 years before I increase my house rent.
Once you have good tenants who pay rent on time, there is no need increasing house rent anyhow no matter the pressure from those greedy agents.

MasterJayJay:
No be wickedness. If person give you price and you no fit pay, you look for another. Housing na market, like every other market.

Tinubu wey increase price of petrol by more than 300% nko.

Is it Tinubu that increased the price of fuel? Also, is it every month or every year that price of fuel increases by 300%? So, na every year you go dey tell your tenant to pay new rates or look for another house?

DesChyko:
An agreement was signed prior to leasing the apartment. That is binding on both Landlords and Tenant.

Exactly...that's why you have the 'Rent Review Clause'...which makes such increment periodical.

MasterJayJay:
So If I buy a house with 50,000 naira in 1960, you expect me to sell it 50,000 naira in 2000?

Them no dey build this same house every year na. But if you want to sell it that's a different thing entirely.

ibechris:
Yes,some landlords are idiots.

But some tenants are even crazy and wicked.

In all,let them take their madness to the court if they can't resolve it.

Anytime I thought of building a house for rent I just feel sick. I respect those who are doing it honestly.

It is not economically wise at all. I see those building houses as people who just want to help the govt in areas they have failed.

If u check out the economic viability u will see that it is not the best investment.

Rather,buying an old house,rehabilitating and reselling it gives u more money than renting.

There is no best investment....

Every investment has its bad days ...and good days...

The key thing is having multiple sources of income to cover your ass

When the need arises...

ibechris:
Yes,some landlords are idiots.

But some tenants are even crazy and wicked.

In all,let them take their madness to the court if they can't resolve it.

Anytime I thought of building a house for rent I just feel sick. I respect those who are doing it honestly.

It is not economically wise at all. I see those building houses as people who just want to help the govt in areas they have failed.

If u check out the economic viability u will see that it is not the best investment.

Rather,buying an old house,rehabilitating and reselling it gives u more money than renting.

Me and you get the same mindset o.

DesChyko:
An agreement was signed prior to leasing the apartment. That is binding on both Landlords and Tenant.

The agreement is not binding forever
It covers only for the year in question
You don't have any agreement with the landlord for the coming years that are outside the current agreement.

Willie2015:
There is no best investment....

Every investment has its bad days ...and good days...

The key thing is having multiple sources of income to cover your ass

When the need arises...

U need to read more about investments. Then u will know that some investments give more return than the rest,hence my reference to it as the best.

If that court or tenant help the landlord build the house you go tell us.
Even the house self, if only you know how many percent of tenants dey owe landlords minimum of 1 year rent, you will shy away from building residential house for rent.

Free2Fly:
The agreement is not binding forever
It covers only for the year in question
You don't have any agreement with the landlord for the coming years that are outside the current agreement.

This is self-implicating. If there is no agreement authorising the lease of that property to the tenant, the tenant can be described as a meddlesome interloper, and is prone to being evicted ASAP.

MasterJayJay:
Did cement companies negotiate with the landlords before increasing price of cement?

You and common sense 👨................💭

JohnSP99:
Oga keep quiet, na today they build the house. Even houses built in the 70s too be increasing rent astronomically. What's the rationale behind increasing a rent of 500k to 1.5m, if no be say them be thief, what happens to increasing at least to 700k, seriously housing needs regulation it's becoming crazy most especially in Lagos and Abuja

You forgot that every other thing increased by at least a factor of 3

Factcheck0001:
for house wey u n landlord gather buy d block?

aswear.. some people poverty don do them shaga.

Landlord hustle build house with his sweat. Na one mumu tenant go detect which amount he will pay??🤣.

If a tenant cant afford the increment. Simple go look for where your money reach