₦airaland Forum

The greed and wickedness in the heart of a regular landlord will lead to more people sleeping on the streets in 2026.... Rents are going as high as 500 percent because of greed. Whatever they are doing now is not sustainable at all. Prices going up from 300k per self contained to 800k. My advice is to move up Okoko and Agbara axis. Since there is train coming to that axis. Best choice

I swear . This is just the factual fact. The economy is not smiling, coupled with taxation coming in again

I think they are the most notorious landlords in the world right now

Amen IJN. So shall it be

I declare it for everyone living in lagos

Solution: Other states need to step up and focus on meaningful development. The South East, for example, is largely underutilized—residents should stay home and invest in their communities by creating opportunities rather than constructing unnecessary mansions.

States should also consider contributing a portion of their allocations to Lagos and other states that are more immigration-friendly.

It’s time to stop overburdening the infrastructure in the South West. 🛑

As a Financial Expert once said

YOUR RENT SHOULD NOT BE MORE THAN YOUR 2MONTHS SALARY.

What happens to relocating back to your village?

Does our government really care.....
House should be more the 500k

I thought 💭🤔 Lagos State government amends landlord tenants laws?

So many are already on the streets.. and na Wetin them dey find for the Lagos me no know. You will work in Lagos,rent and bills will collect all the money.. Except you are earning well or you have multiple businesses doing well, Lagos go make you look like you don't know what you are doing in life..

And it's painful that many doesn't have the courage to leave the state. They stay grow old and retired home with little or nothing..

The landlords are less than 25%
% of the problem. You see estate agents and developers are the major culprits.
Imagine a landlord giving out his property at a price and the evull agents will say it's too low compare to market prices, that it should be substantially increased?

Vinnie2000:
As a Financial Expert once said

YOUR RENT SHOULD NOT BE MORE THAN YOUR 2MONTHS SALARY.

Just be sleeping in your car. Unfortunately, you cannot bath there.

please how many years should a landlord wait before increasing rent & by what percentage should increase be?

Anybody please? Thanks

The implications are simple after first rent, high default and more court cases.

newoffer:
The greed and wickedness in the heart of a regular landlord will lead to more people sleeping on the streets in 2026.... Rents are going as high as 500 percent because of greed. Whatever they are doing now is not sustainable at all. Prices going up from 300k per self contained to 800k. My advice is to move up Okoko and Agbara axis. Since there is train coming to that axis. Best choice

With the rate of content creators, yahoo boys disguised as Tech guys, drug Lords and Oloshos disguised as Eye lash tech, hairdresser, etc flocking that area, it will surprise you that they will always find market for their high quoted rents.

The roads are getting better in that axis, and with the train, one can easily find decent, cheaper and spacious apartments in that area.

When i was still in Nigeria, i used to go from Badagry to Ikeja (Alausa) for work - I leave home 5am. That was before 2013, I left in 2013. Even now, i have houses in that same Badagry and where i stay whenever i am around.

Dearlord:
What happens to relocating back to your village?

Abi o, as if landlords are not affected by the high cost of goods in the market.
You have to contend and pay different Lagos regulatory agencies just to build a simple house. Who will now bear the cost after factoring the expenses

If you've been to South Africa una go know sey rent still dey cheap for Lagos

djseanjohn77:
With the rate of content creators, yahoo boys disguised as Tech guys, drug Lords and Oloshos disguised as Eye lash tech, hairdresser, etc flocking that area, it will surprise you that they will always find market for their high quoted rents.

The roads are getting better in that axis, and with the train, one can easily find decent, cheaper and spacious apartments in that area.

When i was still in Nigeria, i used to go from Badagry to Ikeja (Alausa) for work - I leave home 5am. That was before 2013, I left in 2013. Even now, i have houses in that same Badagry and where i stay whenever i am around.

You Japa when Nigeria was still cool, I dey plan this new year

newoffer:
The greed and wickedness in the heart of a regular landlord will lead to more people sleeping on the streets in 2026.... Rents are going as high as 500 percent because of greed. Whatever they are doing now is not sustainable at all. Prices going up from 300k per self contained to 800k. My advice is to move up Okoko and Agbara axis. Since there is train coming to that axis. Best choice

this is the forces of Demand and supply at play . The more people troop into Lagos state , the more the price hike . Those axis you mentioned would also increase rent as time goes on . It's really crazy how this is going .

Don't put the whole blame on the landlords, blame the government.


Tinubu's policies brought untold inflation, in order to survive, landlords have to increase the rent of their own source of income to raise money to survive the hardship and inflation.

Lagos is overrated.
They should come back home and invest.

ryloy:
Solution: other states need to wake up and do better. South East is almost empty, stay at home and develop your place by creating opportunities not building useless Mansions .

Other states should start remitting part of their Allocation to Lagos and other immigration friendly States.

STOP 🛑 putting pressure on the infrastructures in the South West

$

Only Lagos State, not other South West states... Aside Lagos, all other South West states are barring land filled with shrines and juju.

Other South West states needs to be up and doing, they should learn from Lagos State and some other South East states for development.

Next time please be specific.


$

We are our own problem. Our greed and wickedness is too much

Wetin transport dey talk now compared to those days nor be moi moi and akamu oo... unless as train dey come e fit change the narrative sha

djseanjohn77:
With the rate of content creators, yahoo boys disguised as Tech guys, drug Lords and Oloshos disguised as Eye lash tech, hairdresser, etc flocking that area, it will surprise you that they will always find market for their high quoted rents.

The roads are getting better in that axis, and with the train, one can easily find decent, cheaper and spacious apartments in that area.

When i was still in Nigeria, i used to go from Badagry to Ikeja (Alausa) for work - I leave home 5am. That was before 2013, I left in 2013. Even now, i have houses in that same Badagry and where i stay whenever i am around.

When u have to settle lagos state town planners task force on a regular basis out of fear of building site being sealed and other back hand dealings running into millions, how else do u expect the landlord to gain the money back
Like I have always said, HARDSHIP knows no tribe or color

ryloy:
Solution: Other states need to step up and focus on meaningful development. The South East, for example, is largely underutilized—residents should stay home and invest in their communities by creating opportunities rather than constructing unnecessary mansions.

States should also consider contributing a portion of their allocations to Lagos and other states that are more immigration-friendly.

It’s time to stop overburdening the infrastructure in the South West. 🛑

Solution: Other states need to step up and focus on meaningful development. The South East, for example... 🤣🤣🤣

ryloy:
Solution: Other states need to step up and focus on meaningful development. The South East, for example, is largely underutilized—residents should stay home and invest in their communities by creating opportunities rather than constructing unnecessary mansions.

States should also consider contributing a portion of their allocations to Lagos and other states that are more immigration-friendly.

It’s time to stop overburdening the infrastructure in the South West. 🛑

If you cannot prevent Nigerians to migrate to other countries with perceived better economic chances, why have you suggested that people should be confined to their communities only?

Why not suggest contributing allocations to the countries where Nigerians migrate to, in the name of “immigration friendly”?

Where are the so called infrastructures in the South West? Or do you want to equate Lagos state with the who of the South West? Are Ekiti, Osun and Ondo states on the same development levels as Lagos?

Why not ask Kogi people to remain in their state, rather than migrate to Lagos in search of better life? Why not talk about those of the north west and north east who in large volumes find their ways to Lagos, Onitsha and Asaba?

He has some points there except you're viewing it from a biased and sentimental angle.. what are all those empty mansions in the south east for?... if not waste of resources and show-off

lightwind:
$

Only Lagos State, not other South West states... Aside Lagos, all other South West states are barring land filled with shrines and juju.

Other South West states needs to be up and doing, they should learn from Lagos State and some other South East states for development.

Next time please be specific.


$

Na the same thing for those places too

The same thing is happening here in Rivers state. Before I renewed my rent this year, my landlord informed me that he has added something to the rent. Before I could even pay the rent, he called again to inform me that he is still going to end something to the rent again after the new rentage expires. These landlords are heartless.

You guys make it seem as if it is the fault of landlord. A plot of land in Amuwo and other middle class areas on mainland is about 150million . Then add cement 10k per bag , iron rod 1million per ton. At the end of the day you have spent 400million for a six flat house. The average rental return worldwide is 5% , that means you need to make at least 20million annually. Dividing this by 6 flats gives about 3 ,300,000. Adding caretakers margin makes it 3,500,000. This new rates affects old houses as landlords start renovating to modern standards to partake in new rate .

Inflation is to blame