₦airaland Forum

Theflint1:
I'm sure the law was made to protect tenants from bad landlords, but what protection do landlords get from bad tenants?

Hopefully it's click-bait sha, and the full policy provides protection to landlords as well, because a law that seems this lopsided will discourage fresh investment in real estate.

Nigerian's are generally bad at designing laws, but then we have to make them.

BlueRayDick:
Traffic and time spent on the road will rubbish that idea. Unlike the UK where u can take a train ride from one end of the country to another for few pounds, if u want to trave from Ogun to Ekiti state u will spend a lot of time on the road and will end up spending serious money too.

izzou:
I believe these matches start around afternoon. Maybe 4pm or so.

I want to believe that if I begin my journey by 7am, I can be in Osun on time to watch the match. I'm talking of leaving Lagos, talk less of someone in Ogun.

My point is, if you want to experience these things, you can. While it is true that people earn way less to actually enjoy these games, that example is way overboard for someone who earns within that range

Theflint1:
I'm sure the law was made to protect tenants from bad landlords, but what protection do landlords get from bad tenants?

Hopefully it's click-bait sha, and the full policy provides protection to landlords as well, because a law that seems this lopsided will discourage fresh investment in real estate.

Nigerian's are generally bad at designing laws, but then we have to make them.

raumdeuter:
Fantastic way to kill real estate investment. Olowunnl i remember you wanted to do real estate investment in Lagos, Is this what you would be dealing with?

Imagine the ordeal landlords will have to go through to evict a tenant who refuse to pay.

Most abroadians will realize that hoping to get anything significant from residential homes investment in Naija is a pipe dream.

There are certain states in the US too that model these laws in a bid to protect renters end up screwing landlords and potential investors

In some states you cant evict anyone with a child because they want to protect the child. While it sounds nice, it ends up screwing the owners and the owner will just refuse to rent to anyone with a child going forward. Or Mandani who wants to freeze rents without discussing how to stop mortgages from rising

TemporaryHansel:
Landlords suffer from laws like this.
Some wicked tenants that are quite versed in the law will take advantage of such laws, sue you instead of paying up or leaving your house jejely, you know how slow the Nigeria justice system is in cases like this, if you don't pull strings, before you know it, the tenant would end up spending extra 2-3 years more.

Spy360:
Apart from the criminalisation, the law isn't really a new one just that it is not being implemented or enforced.

Besides a good landlord lawyer will argue that the tenancy is dissolved the day the rent expires. So the law can only apply when the rent is still active.

I usually issue notices through court orders 6 to 3 months before the tenancy expires. This allows me to run the court cases while the tenancy is still running. 9 out of 10 times the lawyer to my tenant advised them to look for other accommodation

izzou:
If you have a piece of land, better build an event center.

After what I saw my mum go through in the hands of tenants, God sef know say I no fit build to rent.

CrystalTiger:
Steel balls, Metal balls, plastic balls

There are over 150 kids who might spend Xmas in capitivity..Nobody cares about your performative nonsense, tell him to get those children home, it's over 20 days already..

OasisX:



.....they will spend Xmas with their families, FG is working hard on it.

Amoto94:
My brother people are optimistic but how do you explain running 2024 budget in December, 2025 and carrying 70% of 2025 capital budget into 2026? And with reports of alterations in Tax Act many are right to question the direction the administration is heading

izzou:
If you have a piece of land, better build an event center.

After what I saw my mum go through in the hands of tenants, God sef know say I no fit build to rent.

Nazgul:
Hello chief, please I wanted to ask… how is Lagos Land Use Charge calculated for house owners, how is it paid, and what determines the amount payable each year?

izzou:
If you have a piece of land, better build an event center.

After what I saw my mum go through in the hands of tenants, God sef know say I no fit build to rent.

izzou:
If you have a piece of land, better build an event center.
After what I saw my mum go through in the hands of tenants, God sef know say I no fit build to rent.

Spy360:
Apart from the criminalisation, the law isn't really a new one just that it is not being implemented or enforced.

Besides a good landlord lawyer will argue that the tenancy is dissolved the day the rent expires. So the law can only apply when the rent is still active.

I usually issue notices through court orders 6 to 3 months before the tenancy expires. This allows me to run the court cases while the tenancy is still running. 9 out of 10 times the lawyer to my tenant advised them to look for other accommodation

Ellexy:
You know ball. One of the properties I must have by God's grace.

Trevor012:
Oga Izzou event center also depends on the location. I have seen event centers that goes months without any bookings.

raumdeuter:
You know you need bigger land for event center to cover the building and the parking space. Also it cannot be in a "it will develop in future" area

raumdeuter:
Exactly. You have to put event center in high traffic and already developed areas that will cost significantly more otherwise na lizards and goats go dey use your hall do short time to give themselves belle

GloriousGbola:
hello Naz

i dont have any idea how they calculate it - as they give you the figure direct.
They typically will deliver the charge/ demand notice to your house.
Details of amount and where to pay are contained in the notice
Amount is typically the same each year [one time ambode wanted to jack it up but backpedaled]

Trevor012:
Oga Izzou event center also depends on the location. I have seen event centers that goes months without any bookings.

izzou:
If you have a piece of land, better build an event center.

After what I saw my mum go through in the hands of tenants, God sef know say I no fit build to rent.

raumdeuter:
I told my popsie to sell his own rental while he's alive and chop the money cos the moment he is no longer alive the tenant will become a landlord.

You will be seeing text message in June 2015 about how he has not been able to pay 2013 full rent because his wife gave birth suddenly and when they pay the next salary he will pay part of last years rent

Meanwhile he noticed his sink is leaking and landlord should come and spend money to repair when he no gree pay his own rent from last year

I think they know retirees no get energy for wahala and they deliberately frustrate them

One guy dey owe my dad's friend 3yrs rent and they dragged to court for long, the guy finally moved out to his own newly completed house meaning while he was owing and living rent free he was building his own house

Nazgul:
Hello chief, please I wanted to ask… how is Lagos Land Use Charge calculated for house owners, how is it paid, and what determines the amount payable each year?

raumdeuter:
Maybe you have plugs with the courts and good lawyers

Think of how much to pay lawyers then go back and forth to court because of how much? Outside Lagos is the yearly rent even up to 500k? In some places the yearly rent is 300k yet you dey go court, hire lawyer while the process still takes months

It can be exhausting

Spy360:
Actually I do the court processes myself until it gets to hearing which is very rare like I said.

These court processes run concurrently with the rent before it expires.

KingTom:
It takes a certain level of intelligence to understand Chapelle, he captures your mind and steers you steadily to the punchline. Real funny guy

nihilistjnr:
Loool did this last year. Bredda, the money for event centre is not small play, and for people like me funding in forex, there's no chance of recouping. Not even half.

The good thing is that I did it to generate passive income for my parents, not as a business decision, cos gaddem

izzou:
Chai.

But compared to house renting, it has lesser stress.

In all, Real estate may not be as lucrative as they make us think it is (especially in Nigeria)