₦airaland Forum

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.

One thing some of us don't know is that many landlords invest in rental properties as a means of generating income to support themselves and their families. When faced with economic pressures, such as rising costs of living or unexpected expenses, they may need to increase rent prices to survive, as that may be their only source of income

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

Is the house a recently completed one? How does an increase in price of cement affect a house built 30yrs ago

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.

Seriously Bro, the returns overtime is very low compared to other businesses, only that it's risk free investment.

Okortor:
Imagine.......naso one increase my guy's rent over 300% percent as they refused to pay it..he issued one month notice to yearly tenant and after expiration of the one month notice.... he's now using the police to harass and threatening them into forcefully exit the house instead of a proper 6month notice.....who does that? Police don turn court judge for tenant and landlord matter.

He did well in giving a months notice, 7 days is legal

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.

You are 💯

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

nonsense and ingredient talk
house that was built when cement was #600 per bag

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.

God bless you for this. Some landlords and caretakers are just damn wicked. This is the same question I asked my caretakers who have chosen to increase rent almost every year but the useless lawyer she brought kept saying gibberish.

What's the justification for increasing house rent for a property you have built for the past 10-15yrs which there is no significant renovation or maintenance in the house?

Softmirror:
This is true. A good landlord gives notice 6 months before increament.

Such a landlord is magnanimous. 3 months is good enough. Rents can soar in 6 months which call into question my judgement in setting my rent 6 months earlier. That said, there is also no law that bars a landlord from giving a tenant one days notice of an upward review of rent.

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

Land lord do not buy cement every year. The house is already built.

PresidObi:
My dad was collecting N250k per flat in 2014, back then a bag of rice was selling for around 8k. We can buy up to 30 bags of rice with just one flat payment.

Today, my dad is still collecting N400k after having physical and verbal wars with all the tenants, sometimes it will seem like they are threatening him with spiritual attacks.

Today, 400k only buys him 4 bags of rice with change for transportation.

What a world!

And someone will be here to talk to landlords.

I feel you.
Unfortunate as it may seem, the best bet is for dad to evict all his tenants, renovate the house and the rent it out at the current market rate.

sidonlook:
Land lord do not buy cement every year. The house is already built.

It is an investment, so as long as there is inflation the landlord has to review the rent as the need arises. As we get older and leave the labour market we will rely on the returns from the investments we had made in our youth to survive. I repeat, the investments we made (not our children) in our youth.

PresidObi:
If you don't apologise, you may never be one. Please apologise.

Look at this clown

Na 1nce you go know landlords from tenants

missionmex:
Make only him live inside all the house na. Just as much as the tenants need the landlord so also the landlord need the tenants. It's a symbiotic relationship.

Always speaking grammar

ibechris:
Have u ever encountered a lawyer before or even a prosecutor...?

The cost of going to court and getting justice is equivalent of ur entire rent.

In economics,it is said,that if the cost of doing something exceed benefit,don't do it but if the benefits exceed the cost,do it.

Use the line above to judge yourself.

You have not seen cases where the losing party reimburses the legal expenses.

The issue of how much you would expend in getting justice is what the 'oppressor' uses to deter you from seeking redress in court.

Love800:
There is this man in rich dad poor dad book. I think he is the author of the book. He said the fastest means to steady cash-flow is building houses for rent. So is he wrong? That nigga is one of the richest man on earth!

Rich dad poor dad author is not from Nigeria. My post relate to house rent as regards Nigeria. In the western world house rents are paid monthly & tenants don't default like they do in Nigeria because there are laws over there. Building house for rent in Nigeria is not a profitable investment. I have done it before & it is not a profitable one.

sidonlook:
Land lord do not buy cement every year. The house is already built.

People that bought corolla 5 years ago for 1.9m are now selling it for minimum of 5m, same car they have been using, why didn't they sell it for same 1.9m or less since it is now second hand? Most of u people don't understand the concept of inflation.

PresidObi:
Have you asked the landlord if he has recouped his initial investment even after 30 years?

Some of are just dumb, so same house for sale will worth how much after 30years ... After collecting rent for 30years also ... Thieves , earning in two ways .

Fearyourcreator:
Some of are just dumb, so same house for sale will worth how much after 30years ... After collecting rent for 30years also ... Thieves , earning in two ways .

Build your own house, stop disturbing landlords.

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 will keep blessing you ooo , you go build more . That business not for wicked people

femi4:
Is the house a recently completed one? How does an increase in price of cement affect a house built 30yrs ago

Why are cars that have been manufactured years ago still selling at high rate??

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.

You go soon sell that to sort spiritual problems, e remain small. Sebi na only you build house na

naijaking1:
Rent is subject to market forces, not socialist government regulations.
Any tenant who decides to drag issues with the landlord instead of going to build his own will eventually loose!
Cement, roofing, and painting have skyrocketed and yet you want to keep paying the same 1990 rent in 2025.
Government can't control transportation costs after fuel price increases, yet some people think it must control rents.

Dey deceive yourself there .. who dey pay 1990 rent in 2025 ... Dey lie yourself wicked human being. House wey many of you no dey renovate sef na only to collect money una sabi ...

ibechris:
Someone would build a three storey building in Umuahia and be collecting 300k for three bedroom at a cost of about say 60 to 70million.

After the completion,he would realised say 1.9 to two million in one year.

Can u see what am saw according to Zeburadai? What a waste?

I would rather invest that money in a long term bonds that will yield me minimum 20% per annum with nothing less than 14million or 12million per annum.

Some will argue,that the land wound increase in value,but the truth is that,many would not be alive to see that value and many of such properties may not actually increase at such pace.

Real estate for rent is a long term business

MasterJayJay:
Scenario: Rent is 220,000 naira per year in 2022, Landlord can use that to buy five bags of 50kg rice with change.

2024, landlord writes to tenant that the new rent starting from 2025 will be 350,000 naira.
Note that the 350,000 naira can only buy FOUR bags of 50kg rice with small change.

From tenants perspective, he thinks the landlord has gained by increasing the rent from 220,000 naira to 350,000 naira. But the reality is that Landlord is trying to catch up as inflation and weakness of naira keep eroding his income from the rent.

He collects rent young man , is building another apartment? Same apartment so he should be considerate in increasing rent ..

missionmex:
Cement they bought today or the one of 1995

Leave the werey

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

Who said so , dey wicked dey go na

Olam09:
You're so dumb that your dumbness even stink to me.. you want to tell me the house they built around 1990 to 2,000 when cement was way cheaper had to be renegotiated again? Wicked heartless fool.

You are the dumb one here
Why are cars that were manufactured in the 90s & early 2000 still selling at high rate?? 2017 toks 04 corolla was 1.8m, today it is around 6m, is it not supposed to be cheaper since it was manufactured way back?? You don't know the meaning of inflation if u think things that were done in the past will remain cheap, when every other thing is going up.

Okortor:
Imagine.......naso one increase my guy's rent over 300% percent as they refused to pay it..he issued one month notice to yearly tenant and after expiration of the one month notice.... he's now using the police to harass and threatening them into forcefully exit the house instead of a proper 6month notice.....who does that? Police don turn court judge for tenant and landlord matter.

Just go court drag their life

I appreciate.

Thanks so much.

OlujobaSamuel:
Depends on the kind of maintenance, there are some that are major repairs, installation or renovation, landlord is responsible for such
But minor maintenance as a result of usage, tenant is responsible.
Eg, your electric cut out got burnt, I don't expect the landlord to come fix such, pumping machine is faulty, door handle got broken, etc I've seen people refused to fix such saying it's the landlord that should fix it. One of such was even involving my brother, I told him straight up to go sort it out with Co tenant as it's their duty as users and not the landlord

missionmex:
Make only him live inside all the house na. Just as much as the tenants need the landlord so also the landlord need the tenants. It's a symbiotic relationship.

what does d landlord needs d tenant for

There are many empty houses that the landlord don't even care

PresidObi:
Build your own house, stop disturbing landlords.

Lolzzz!
Na elebi landlord dey increase rent anyhow ... Only if you understand