₦airaland Forum

The houses we are referring to were not built this year but over a decade. Stop justifying man inhumanity to his fellow man.

kcprince:
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

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

Anybody please? Thanks

Rent reviews is usually between 2-3 years. Increments are usually 20%.

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

Haba?! You wan leave Anguldi? Lol..

Which country you wan go make I follow you

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

if you say agbara I will understand, but you see that okoko it's a no go area for rent, a room self contain goes for as much as 800-1.2m a room and parlor is from 1.3-1.8m 2bedroom is from 1.8m to 2.5m+

I no go lie, I go increase my own oh, them being dey pay 850k for self con, now na 1.8M them go dey pay no time.

It's the economy 'stupid'...
Not meant as an insult but to call attention to the 300 pound gorilla in the room as Clinton did when he seized the Presidency from warmonger and economic destructor George Bush.

Real estate is a commercial enterprise that operates under the same economic laws as any other business.
The supply of new housing has gone down due to inflation. The cost of maintaining properties has gone up due to inflation. The cost of servicing housing has gone up due to inflation.

So where is the argument for a stagnant or deflating housing market....none.

thrillionaire:
Haba?! You wan leave Anguldi? Lol..

Which country you wan go make I follow you

Australia skill select , this country wan kpai person .

Vinnie2000:
As a Financial Expert once said

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

It’s easier said than done ,you can hardly get a two bed for 1m now ,so how many people earns at least 500k a month in Nigeria ?

Vinnie2000:
As a Financial Expert once said

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

That is no more applicable in Lagos.

kernniejay:
That is no more applicable in Lagos.

No mind him,na motivational speaker dey deceive them

Bekermann:
Rent reviews is usually between 2-3 years. Increments are usually 20%.

Thank you sir

kaludestiny10:
The houses we are referring to were not built this year but over a decade. Stop justifying man inhumanity to his fellow man.

But the owner is not spending what he did ten years ago, the agent either. Their cost of living also has to be factored in. Or is their business not supposed to pay their bills anymore. Is your business not paying your bills. If it is not, it is no more a business but charity.

Personally I don't know of any single product or service that has not dramatically increased in cost over the past two years. Some prices may creep, some may jump and some may leap depending on their exposure to the forces of inflation but nothing has remained static.

And that is why inflation is one index that is so important to the people of the developed world. They fear it more than the plague because it is a killer, of lives, of enterprises, of governments and of destinies.
It has toppled governments and led to some of the most destructive wars ever fought on earth.

Here we toy with it and accept the factors that stoke it, well here we are, blaming one another as citizens instead of addressing the root cause, a government that cannot live within it's economic means, a country's purse badly handled, mismanagement of public finances.

xinyuen1:
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

Only a person who has actually built a house in Lagos knows this

kaludestiny10:
The houses we are referring to were not built this year but over a decade. Stop justifying man inhumanity to his fellow man.

And so what?

If you want to do repair and maintenance on the house will they sell cement to you at the price you bought it 10 years ago or at current price?

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 General wickedness and greediness of Nigerians

Food sellers and transportation companies that inflate prices during this period are they any better

The fear of lagos landlord....

SatoshiX:
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?

and if you see the house of some of those agents

Loolz even the agbara axis you are talking about is now pricey.

One room and parlor self contain on my street went for 1million 20k total package to pay 700 yearly and the smaller apartment 920k total package to pay 600k yearly.

Everybody dey package their landlord now with good behaviour though we have some considerate ones.

My mum's property in that axis we still collect 250k for decent room and parlor self contain, prepaid , decent fenced compound, cemented floor and the increment to 250k was because they misbehaved it's 150 they were paying, grandma no gree increase with church mind after all these years. I have told her it's because she doesn't survive on house rent that's why , landlords that survive on their rent will increase as inflation occurs , they no send you.

After the nonsense last year I got a lawyer increased with 100k and added 6 months quit notice, 6 months increment notice to coincide with the expiry of their rent. You can't pay you leave.

You cant be paying less than 50 percent of the market rate and be doing anyhow simply because it's an old woman that is living in the compound with you.

I knew they were not going to leave sha and they didn't,( when the least yamayama self contain is going for around 500k rent only ) they paid their increment jejely and comported themselves moving forward, now everybody pays their security levy on time and compound cleaning. No more nonsense.



Some tenants atimes cause some of these things. There are some landlords who just want people to take care of their house and collect minimal fees.

Southwest is the one overburdern themselves with selfishness and greediness .
E.g all the fedaral head quarters Tinibu moved from Abuja to Lagos are they not coming with their staff?
The people from other regions that has businesses to do with the head quarters, should they stop their businesses because one nepotic president moved it ro his region?

The seaport that centralized in Lagos should people stop their business because it located in Lagos?
Should people from other regions stopped travelling abroad because the port that is designated as enry and exist air port is located in Lagos?
Infact on the reverse Lagos should start paying other states tax because the have denied oher state revenues

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. 🛑

Other states need to develop their region, ensure security and economic activity, this will reduce the pressure on housing in Lagos. It's demand and supply, demand is high, price will go up. This is the solution.

Good2go1:
Southwest is the one overburdern themselves with selfishness and greediness . E.g all the fedaral head quarters Tinibu moved from Abuja to Lagos are not coming wuth theirs, the people from other regions that has business to do with the head quarter should they stop their businesses because one nepotic president moved it ro his region.

Gibberish, people love Lagos due to the Cosmopolitan nature, civilized mentality.

Lagos state govenment is actually one of the reasons house rent is expensive, how can govenment be charge people as high 4m for building permit approval and Omonile will also charged you atleast 500k for every staged of the building. Landlord is not father christmas he or she has to recover his money too

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

IamAtAnger:
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

$

We are talking about commercial cities in Nigeria, where almost all the big big companies in Nigeria is headquartered. And that is Lagos Nigeria.


I don't know why the Yorubas don't want other Nigerian people especially the Igbos to come live and hustle in the same state where all our banks, big companies is headquartered the former capital of our dear country Nigeria.


$

Who has idea if lagos rent laws are effective and are now being enforced as regards the 5% of annual rent as the only approved charges

Even getting a room selfcon for 300k around okoko is by connection

dederocs:
Gibberish, people love Lagos due to the Cosmopolitan nature, civilized mentality.

$

All Nigerians live in Lagos State, doing their businesses.


All our big big companies, and banks headquarters is located in Lagos.


Now tell me why won't we come to same state to hustle.

$

IamAtAnger:
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

So all the high rise in onitsha awka, aba, owerri are not for rent abi

Anguldi:
Australia skill select , this country wan kpai person .

Nice one.. for me na USA, 2nd choice Australia.. I pray your plans work out. Maybe we go meet there one day

Go back to Ibadan oyo iragbiji Ogbomosho Oshogbo olokonla and allow Lagos and real lagosians breathe

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. 🛑

Kindly be a good citizen and go back and develop ya iragbiji,thank you very much

kcprince:
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

Your 400m looks inflated sir.

I used to blame LANDLORDS until I started building my own house.

See ehn, if you're not strong enough, building a house will lead you to bankruptcy and depression.

The government is the number one culprit in all these; they stopped building low cost housing estates, they refused to subsidize building materials, they increased the different taxes and levies on site construction, if you add all these to the rising inflation and unfriendly economy. You'll understand why landlords charge very high for rent.

There's even one nonsense practice in this Lagos, if you try to renovate you'd old building. Gbam, government agencies will pay you a visit. Then, the street urchins from different joints. I'm yet to see a government that doesn't give a damn about her citizens like Nigeria.