₦airaland Forum

Nobody should come and tell me how to rent out my property

Nonso92:
Some landlords have started converting their houses to serviced apartments. They don't want to have to deal with tenants anymore

Better peace of mind if you ask me.

ValCon888:
Good one. The country is extremely hard. But this means that tenancy wahala will increase exponentially. Instead of fighting your landlord every year, you will be fighting him every 3 months.

Hahaha lagos court will be overwhelmed with tenant and landlord cases

Niok:
Nothing about the exhorbitant agency fees

I swear!
Na trash

Nonso92:
Some landlords have started converting their houses to serviced apartments. They don't want to have to deal with tenants anymore

what is awesaome there. these laws already exist customary but they just modified one or two. where is the law where the governor was bragging that Agency and commission fee combined should not be more than 10%? All ofd the law makers in lagos that oversees this laws are all landlords and landladies in this lagos and i was placing a bet on one of my colleague that they will never insert that critical law to reduce cost of rent for first timers.

SMH

Lol... This won't fly ra ra.

Instead of this... All state governments should start building low-cost houses massively across their states, and placing them on rent.

This will create serious competition, which will drive rent prices down.


Additionally, make efforts to push down the cost of building materials, especially the ones produced within Nigeria.

The extent of senselesssness I see here from folks like these are mind boggling.

Is the current state of affairs one that millions of Nigeria are comfortable withband proud of? Rather than these odiously stupid contemplations, can't the system be rejigged from bottom up for improvements?

If they do, na problem.
If dem no do, na una de cry pass.

cyberbro:
They didn't think of that before making the law obviously.

One yeye tenant will now pay for 3 months and start fighting the landlord cos he can't pay for subsequent months...

A lot of landlords will just convert their houses to lease instead of rent or they kuku do short let and charge exorbitant fees. Government wey no wise.

victorazy:
We really need it.

no we don’t

At d beginning it will be difficult to adjust to d new law. But I'm sure it's a win-win for all parties.
Now how do u manage those who will rent a building for fraudulent reasons...those who will rent it as office space to do evil

BABANGBALI:
talk true? Did you read everything?

This jamb question go hard to answer o

This policy is strictly for the trenches!

aminauiade:
SECTION 1: GENERAL APPLICATION


https://nigeriapropertycentre.com/blog/renting-letting/the-lagos-tenancy-law-in-detail

leave this nonsense and provide a pdf copy

You guys hoard as if your destiny depends on it

Good development but my problem is that there is no time frame and percentage benchmark given to Landlords for rent increase. I expected to see things like "Landlord shall be permitted to increase rent only every three years of a tenant's tenancy not less with so so so percentage increament not more than that". That is the real headache of most tenants not these their lengthy write up that is neither here nor there.

Angelfrost:
Lol... This won't fly ra ra.

Instead of this... All state governments should start building low-cost houses massively across their states, and placing them on rent.

This will create serious competition, which will drive rent prices down.


Additionally, make efforts to push down the cost of building materials, especially the ones produced within Nigeria.

How do you push down the cost of building materials, especially the ones produced in Nigeria.
Please explain to me.

The law is too much why go straight to the point no more commissions and caution fee agreement should not be less than 5 percent of the actual rent and rent must not be more than one year simple

It is a good model and will help tenants live within their means. Hotels will also lose some customers to service apartments. This will unlock plenty residential properties as most people will be able to short let their rooms and share apartments, but evicting tenants will not be an issue as most landlords will prefer that you come in with just your box of cloths and exit with it.

Vision101:
Na my house. If I say I no go let am out nko? House no dey, tenants plenty and building material dey cos. Government build your own house. Everything for naija na willing buyer and willing seller.

Maybe them go soon make law say you must rent out all the rooms or a apartments by force.

PricelessGem1:
Good development but my problem is that there is no time frame and percentage benchmark given to Landlords for rent increase. I expected to see things like "Landlord shall be permitted to increase rent only every three years of a tenant's tenancy not less with so so so percentage increament not more than that". That is the real headache of most tenants not these their lengthy write up that is neither here nor there.

You are right. My landlord just increased thereby from N200k to N350k.

Proudlyngwa:
How do you push down the cost of building materials, especially the ones produced in Nigeria.
Please explain to me.

1. Reduction in taxes

2. Partial subsidy on raw materials

3. Ease of access to loans and grants


These are done abroad for items and services deemed highly essential.

Nothings

Angelfrost:
1. Reduction in taxes

2. Partial subsidy on raw materials

3. Ease of access to loans and grants


These are done abroad for items and services deemed highly essential.

.

That will only create false sense of security.

The only thing that should determine price is true cost of production, together with market forces except it is a controlled substance like drugs.
For how long will you continue paying partial subsidy, and why you think outside luxury groups and services anyone is more important than the other.
All business should have access to Loans and all business should equally be taxable.

Nonso92:
Some landlords have started converting their houses to serviced apartments. They don't want to have to deal with tenants anymore

Lies

This needs to happen in Aba as well

this is a good law

Other states should copy and emulate this oo

nedekid:
Maybe them go soon make law say you must rent out all the rooms or a apartments by force.

Hahaha 🤣😂. Freedom of ownership dey. I go tell Sanwo-olu say na family house. No tenant is required.

1.The law thinks is easy for the tenant to be looking for a new house every 3months abi
2. We cannot afford monthly house rent in this country with the present salary structure

Interested party kini?

Privity of Contract means that if you are not a part of a contract you have no right or business to enter it.

So Section 2 (1) is null and void!