₦airaland Forum

Sugarboyy:
Which area in Benin are they paying 300k for a 3 bedroom in Benin? Or you meant to say Benin Republic?
I stay in GRA axis in the same Benin and my yearly basic rent is 1.2m
Should I shock you? That's like the cheapest amount for a 2bd modern apartment around GRA Benin city right now. A friend around same GRA is paying 1.8m for same 2 bd

SpatialKing:
$1066 per month here in Texas

Prechgold1180:
. Na 300k u take rent house there

Firebox123:
I'm a landlord

I charge 200k for 2 bedroom flat at ijede Ikorodu

Superpack589:
This is the comment I have been looking for. Some people here are saying building materials is cost like most of the houses in question were built last year. Some of these houses were built when things were cheaper many years ago. Many landlords are just greedy and wicked to tenants.

Hamachi:
Yes, it's true—landlords are going through a lot. Building materials are expensive, loans are crushing, and dealing with defaulting tenants can be heartbreaking. No one talks enough about how vulnerable landlords can be, especially elderly ones or those who depend on rent as their only income. The story of your landlady being led around to beg for rent is truly painful—and unfortunately, not rare.

But on the other side of that door, many tenants are also struggling. Rent isn't something most people want to owe—it's something they fear they can’t afford. The cost of living has skyrocketed, and salaries haven’t kept up. Many tenants are juggling school fees, medical bills, job instability, and sometimes even extended family responsibilities. Some are genuinely embarrassed when they fall behind on rent—they’re not all being reckless with their money or trying to cheat the system.

Yes, some exploit the law and make things hard for landlords. But many tenants just want a stable roof over their heads and are doing their best. When landlords shift to shortlet to escape tenant stress, it makes sense financially—but it also contributes to the housing crisis by reducing long-term housing availability for regular people.

What’s needed is balance: better legal systems that protect both landlords and tenants, more responsible behavior from tenants, and more humane rental practices from landlords. Because at the end of the day, both sides want the same thing: stability, respect, and fairness.

Firebox123:
I'm a landlord

I charge 200k for 2 bedroom flat at ijede Ikorodu

yomi007k:
You should charge 200k for 2 bedroom because Ijede deserves that price.

This is a video of Ijede after the rain.

https://www.nairaland.com/8490917/man-cries-out-after-flood

Firebox123:
is that place ijede in your face

Don't say what don't know

Goodbye

2special:
You're not nice o 😁😁😁😁😁

Firebox123:
I'm a landlord

I charge 200k for 2 bedroom flat at ijede Ikorodu

latiephwald:
I just rented out 2beds in Igbe, Ikorodu Area with very deplorable road condition for 1.6m

Esthered:
800k 2BR Orile
300k 3BR Benin

fasbat:
in 2020 that my wife deliberately forced me to relocate to our house in OTA, I spent #12m to put up a 3 bedroom and I always thank God for giving me the grace, listening to what tenants are facing, with the dwindling income, I have empathy for them and I do hope the government could relax these hard economic policies and we could have peace of mind

Nappsy:
Where in orile pls
Good/neat environment?

Esthered:
Do you shuttle Lagos for work daily?

Goshiii:
You have a valid point, only say the depreciation of one property depends on how the property is utilized by the tenants. Some tenants go useless landlord property to the point say landlord go spend a lot of money to put the property in good shape to rent it out again.

So it is possible for a tenant to make a property depreciate in a short period of time. Hence from a landlord's perspective short let solves their problem of property damage by tenants.

Goshiii:
Oshe! Na house abi apartment?

alamscolo:
Bro/sis. The real fact is that house renting is not profitable to landlords again but most people will not believe this, at least with the analysis I have done so far. I have like 2 ppties that I use as rent.

All these things still matter except that landlord does not renovate after completing the structure.

Imagine using over 5m to renovate an existing structure+ money for acquiring the property over 23m.

And I get 2.1m per annum for rent.

NB: I will still have to be renovating o.

How many years will it take me to recover?

Over 10 years right.

If I add cost of renovation maybe every 2 years. Do you see the trick.

Na Una wan live at high brow areas.

Despite all these analysis, I still let out room and parlour self contained for 350k, 500k total(damages inclusive) and 2bed @450k (600k total + damages) and they have good road

Anyone that knows lucky fiber can testify maybe coz the structure is just behind the company.

Everyone will be alright. Cost of materials is affecting both newly built and those that are renovating.

Esthered:
Total package or per annum?

Esthered:
800k 2BR Orile
300k 3BR Benin

MrDoGood:
Which Benin? And where ?

latiephwald:
1.2m annually.

Hamachi:
700k 3-bedroom apartment. Lagos.

yomi007k:
Woman of Wisdom.

Peace be upon thee.

Esthered:
Wow.

My parents need to hear this as landlords in Igbe. Less than 200 for mini flat at Igbe-Laara.

Domainer1999:
Affordable housing is now getting out of reach of common man especially in major cities.

Imagine #2M cannot secure you a 2BR apartment in Chief Anthony Enahoro housing estate Ogba, Lagos. We were told to prepare #3.5 - #4M.

And houses like this are called affordable housing, what’s affordable in this?

It seems we’re now working to feed landlords.

2.8million per month . 600k bills per month

Short let's rentals also contribute to the hike in rent price as municipal landlords now peg ground rent to their prices.

Appropriate authorities should look into this, it is getting preposterous!