₦airaland Forum

nedekid:
I think you should reconfirm from your dad, there is no way he will currently be increasing rent as you said. He probably did as you said years ago when the naira was stable. Remember under the 16 years of Pdp before the current locust apc came in, naira was between 90 to 150. It only went to 200 because of elections of which it would have returned to 150. But now, within 9 years of which the worse has happened in the lats 1.5 years of Tinubu from 700 he met it to 1700!.
A can of rambo insecticide I use to buy for 980 early last year is now N4400. A liter of petrol is 1k from 180 early last year. Your landlords suv chops like 80k weekly. Truth of the matter is that even to maintain his house not to talk of taking care of himself and family (as that may be his source of income) he has to increase rent to survive.
In this situation, your best bet is to maximise your advantage. Your dad is a landlord, it will be better you get an apartment in one of his houses, consolidate your finances to build your place to move into.
As you know, most aged people have no social security as you have in eg UK where you are pensionable. Here you provide your own pension ie though property you own in which case rent must increase with inflation.
Government ought to build mass housing to be rented out or sold at subsidized rate. You hear of 10b recently allocated by fct for Akpabio and his deputies rent/accommodation. You hear of how much spent on cars for office of oga at the top, you hear of money for jet, enough to build hundreds of thousands of housing units. You hear them buy 1 bullet proof jeep for 700m.

I get your point but I see land as long term investment not fast buy or build and make money back with 6 years, as for my dad,he just tries to be considerate I guess, as for my increments, 40 percent 2 yrs ago, almost 100 percent now, do you find them reasonable?

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.

Wrong
It's not a good investment only in poor states

erico2k2:
Housing is like buying a car.if U cant afford u go to a next car stand.
In the UK there is what we cqll a sectiin 21 notice and a rent tribunal.section 21 notice is for you to mov3 oit with no faults.

I guess In the UK they charge agreement and commission anytime you want to rent i house.

Stop comparing if the terms and mode isn't the same.

Here in lagos
Rent 300k
Agreement 100k
Commission 100k
Damages/ service 100k
TP 600k

Is that how they do in UK.

abbey621:
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

Oga it doesn't work that way okay.

Richie6:
Oga it doesn't work that way okay.

It works exactly that way since I own 4 properties in Lagos and this is how my lawyer deals with tenants....Okay!

abbey621:
It works exactly that way since I own 4 properties in Lagos and this is how my lawyer deals with tenants....Okay!

And you think it's legal right?

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

when did you build your house? Last year?

Bobodee09:
I guess In the UK they charge agreement and commission anytime you want to rent i house.

Stop comparing if the terms and mode isn't the same.

Here in lagos
Rent 300k
Agreement 100k
Commission 100k
Damages/ service 100k
TP 600k

Is that how they do in UK.

bross no vex, you say in Lagos rent nah 300k? which kind house be that?
my house in PH the 2 bed flat is N1.3m, or una dey do agreement for face me I face you?

erico2k2:
bross no vex, you say in Lagos rent nah 300k? which kind house be that?
my house in PH the 2 bed flat is N1.3m, or una dey do agreement for face me I face you?

Ehya........hope you know someone rent in that same PH for 2 bed flat is 10m.

Is not hard to use your head this year.

In as much as we have government who doesn't listen to the plights of their citizens. We should be considerate as landlord too, because it's a honour for God to bless you with an apartment for lease or rent.

Increasing rent arbitrary and yearly doesn't help the situation we find ourselves in this country..I can understand that there's inflation, cost of items and other essentials has increased significantly, but again, some of your tenants are struggling to survive, their salaries are not increased yearly.

As a landlord, do you know that you're doing more of a humanitarian service not purely for business? Increase your rent with wisdom and also, stop running after tenants that will give you millions and headaches later in future.

Tenants too should also respect their landlords and let us live in peace and harmony..Money should not be a factor all the time... There are houses I know in certain areas and estates here in Lagos that nobody wants to rent for the past three years because of outrageous fees and demand.

We are one and should continue to live as one. Go to the northern part of the country, even though, it's underdeveloped, you will see people accommodating other for free.

A landlord is totally in charge...if you don't like quit...no government control over rates

Richie6:
And you think it's legal right?

I know it's legal......Lawyer followed process and the court approved the order, don't know what you're arguing here?

Softmirror:
That's true 3 months for rent increment to pack out is 6 months.

And even that one is to be paid for. People have the false notion that they get the period for free.

teemy:
And even that one is to be paid for. People have the false notion that they get the period for free.

That is true, a lot of people have such notion.

Zidac:
Most landlords don't repair especially in Lagos

But whenever a major repair comes up, they must.

You come here to insult without knowing me personally lol. I agree it is wrong for landlord not to return damages and that should be spoken to before you move in. I interview my Tenants and I tell them they will get their damages in full if nothing is messed up, and I have been returning damage fees to their surprise lol. Even the one that moved out earlier to Abuja, once I got a new tenant into his apartment, I asked for his account number and refunded his 8 months rent due which was shocking to him.

So everyone is not the same. I revise rent every 2yrs and give all my Tenants 1yr notice so they can plan to save more or move after the lease is over. I shouldn't have to negotiate rent increases with my tenants. Did I negotiate prices of materials with them while building my houses? Nope.

When Govt make it harder for people to become landlords, they are just setting the tenants up. Like I said before, the Govt should instead put forth some regulations.

1. For old tenants, rents should be reviewed upwards every 2yrs. I think that is fair.
2. Rent increases should not exceed the inflation average of cost of materials released by the Govt. Fair.
3. All LGAs should have housing Courts that can easily and quickly resolve eviction, non payment of rents, return of damages and damages to properties.
4. Documents of tenants should be emailed to LGAs and a fee should be paid to LGAs by Landlords for each tenants.
5. Housing Courts will have jurisdiction to give orders and garnish accounts for non payments of rents
6. Provide conditions for which landlords may evict tenants
7. Provide appropriate timeline for which notification should be given if lease would not be renewed.
8. Register all agents and normalize agency fees and legal/contract fees
9. Enforce NIN requirements by all tenants and landlords
10. Enforce taxes on landlords as business taxes and ensure houses are conducive for living.

We can all agree that these are common sense solutions that govt ought to push. Both sides must see a win-win else one side will suffer. and I can assure you it won't be the landlords longterm

Bobodee09:
How many landlord return damages even when the tenant leaves Nothing damage in the house....the last house I moved from I paid 50k damage fee before moving when I wanted to move out I ask to the landlord to check the house so I he can return the fee .....the man kept dribbling and I left him to God.

Is funny how people like you are always narrow minded forgetting not everyone in family owns a house.

My both parents are landlord and by grace of God I will also be one someday but I never be callous and wicked to Increase house rent every year...never.

Only a wicked soul will support anyone Increasing service or product fee by almost 100% becos he/she feels the economy is bad every year.

Xinjin:
Wrong
It's not a good investment only in poor states

How many rich states are in Nigeria?

Within those rich states, how many towns or cities are rich enough to qualify as " good investment"?

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

When a landlord has completed the building what's his business about the price of cement?

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

Dumbo, landlord built when cement was less than 1k... Dumbo

Bobodee09:
If the transporters increase bus fares by 100% everyday am sure you will gladly pay without complaining??

You will pay if you want to ride. Whether you complain or not is another topic. Is that different from rents?

Dtruthspeaker:
But whenever a major repair comes up, they must.

Yes but this major repair doesn't come often and in anycase they will increase rent.

Zidac:
Yes but this major repair doesn't come often and in anycase they will increase rent.

But the landlord is still spending monies on things that have increased prices

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

Is the landlord rebuilding the house every year...?

https://olamideoyetayolegal.com/how-to-legally-divide-inherited-property-in-nigeria/

90% of rent increase are from houses inherited by bastarɗ lazy children and evil lazy retired olosho landladies who became landladies after directly or indirectly killing the owner of the house.[/quote]

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

Does the landlord buy cement annually?

ADAMUdaCOWBOY:
Does the landlord buy cement annually?

why do you guys talk like this, build urs and see if you dont act same,
WHy does teh value of the car you bought two years ago go up?

007lawyer:
https://olamideoyetayolegal.com/how-to-legally-divide-inherited-property-in-nigeria/

90% of rent increase are from houses inherited by bastarɗ lazy children and evil lazy retired olosho landladies who became landladies after directly or indirectly killing the owner of the house.

See how you embarrass urself in public, at least few persons leave something for thier kids, But could that be said in your own case? I dnt mean to be rude but sometimes tenants have no houses to leave to their kids and so the circle continues.

Bobodee09:
Ehya........hope you know someone rent in that same PH for 2 bed flat is 10m.

Is not hard to use your head this year.

There is nowhere in the whole of PH where a 2bed . flat cost 10m unless you are renting a whole yard,
Let me tell you, there is no shame living in a face me I face you, your response triggered signs of embarrassment. Everyone started from somewhere there is nothing to be embarrassed about, Go to the US UK,there are lawyers barristers who do Ubar with their car after work every evening, shame nor dey,but Nigerians we too like to carry shoulder

Richie6:
In as much as we have government who doesn't listen to the plights of their citizens. We should be considerate as landlord too, because it's a honour for God to bless you with an apartment for lease or rent.

Increasing rent arbitrary and yearly doesn't help the situation we find ourselves in this country..I can understand that there's inflation, cost of items and other essentials has increased significantly, but again, some of your tenants are struggling to survive, their salaries are not increased yearly.

As a landlord, do you know that you're doing more of a humanitarian service not purely for business? Increase your rent with wisdom and also, stop running after tenants that will give you millions and headaches later in future.

Tenants too should also respect their landlords and let us live in peace and harmony..Money should not be a factor all the time... There are houses I know in certain areas and estates here in Lagos that nobody wants to rent for the past three years because of outrageous fees and demand.

We are one and should continue to live as one. Go to the northern part of the country, even though, it's underdeveloped, you will see people accommodating other for free.

Statements like yours is the reason why almost no one can build thier own house in the west, Unless they live country side, Very soon people will just build houses for they and family to live in NOT RENT. Charity really? accommodation of its people is the responsibility of the Govt of the day.See how people are being prized out of the cities cos of cost of building and maintaining houses. Actually FLATS not houses.

erico2k2:
There is nowhere in the whole of PH where a 2bed . flat cost 10m unless you are renting a whole yard,
Let me tell you, there is no shame living in a face me I face you, your response triggered signs of embarrassment. Everyone started from somewhere there is nothing to be embarrassed about, Go to the US UK,there are lawyers barristers who do Ubar with their car after work every evening, shame nor dey,but Nigerians we too like to carry shoulder

Is to early in the year to be engaging shallow people on this forum.

I paid 600k tp to stay in face me and face you......😆

Bobodee09:
Is to early in the year to be engaging shallow people on this forum.

I paid 600k tp to stay in face me and face you......😆

whats is tp and how does it show its importance in the subject matter? Enlighten me please.

erico2k2:
whats is tp and how does it show its importance in the subject matter? Enlighten me please.

Can you see how shallow you are......so you don't even know the meaning of TP as regarding rent in lagos??

So you don't even know how rent in lagos work and here you saying am staying in face me and face you cos my rent is 300k.

Like I said earlier alot of you people here are just......anyway it is a faceless forum