₦airaland Forum

Bad economy, High inflation, devaluation of the naira, high costs of building materials .....the high inflation, high costs of living, high costs of foodstuffs...the landlord must feed his children and family with the high costs of foodstuffs... high costs of school fees.. the landlord have children to send to school..high costs of school fees , high costs of electricity light bill...the landlord has to pay high electricity light bill where he is living, high costs of transportation..the landlord has to pay high transportation costs where ever he is going to.. high costs of medical treatment and services and drugs..the landlord has to pay high to access medical treatment and services and buy drugs at high costs or drugs that are expensive nowadays..so the high inflation and high costs of living also affect the landlord.. that is why they increase their house rent inorder to meet up with the high inflation and high costs of living and survive the hard economy

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

My God!!!!
Just imagine what is coming out your mouth!!!?
Chai!!!!

How true the saying is,"that people only envy and get jealous of others who they can only dream to be like"

Nobody gets time for person wey him nor want to be like 😂😂😂😂🤣🤣🤣🤣🤣

Should be stated in the tenancy agreement.

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

Anybody please? Thanks

A standard 2 bedroom flat in okoko or iyana isashi is 1.2m, landlords are on rampage everywhere in Lagos

Once train enter Okoko or Agbara or Mazamaza , the rent will still go up.

Fight against government Draconian policies rather... Let building materials cost come down.

Real estate is overrated in Lagos but the politicians are the largest culprit.

See how thread have suddenly turned to attacks on south east MANSIONS!

😂😂😂😂🤣🤣🤣🤣🤣🤣

RONU PEOPLE SHA!!!!!

Vinnie2000:
As a Financial Expert once said

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

Una don start with this impossible advice in present day Nigeria .. make person get work for Ikoyi but go live for Ikotun egbe or Okoko ba?

tommy589:

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

You are right but my problem are with those who will never cut their onion according to their size of pot.

You will see many living in Lagos from hands to mouth with no shame or intellectual to diversify always praying & relying on people for help

You can still get cheaper rate there , I leave in Igbo eleneri area and my rent have just been increased to 800k for two bedroom flats with water heater, foregn wood wallrope and kitechen cabinet.

Killermamba:
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+

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?

Means Landlord is also the problem... A good landlord will not increase it as he/she has conscience, but no... So don't blame estate agents.

Developers started the rot, of which are many politicians in APC

lightwind:
$

All Nigerians live in Lagos State, doing their businesses.


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

Your summation should tell you the influx of people from everywhere will lead to a rush on available properties and increase in valuation, this will definitely lead to high rental prices, as seen in places like London, new York etc.


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

$

Your summation should tell you the influx of people from everywhere will lead to a rush on available properties and increase in valuation, this will definitely lead to high rental prices, as seen in places like London, new York etc.

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

Bro me too... I can't take the shit in Nigeria anymore

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 think moving to Okoko and Agbara will save you pls rethink. A Friend is paying 800k for a 2 bedroom apartment in Igboelerin

Killermamba:
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+

Huh... For Okokomaiko... And I dey complain for Gbagada here 🤣🤣

Royalty83:
If you think moving to Okoko and Agbara will save you pls rethink. A Friend is paying 800k for a 2 bedroom apartment in Igboelerin

Abi naw... When train enters there, the rent with triple. ... 🤣🤣🤣

"Civilized mentality" I disagreed with this. The attitude of yorubas is contradicting this asertion.the reason people go to Abuja is the same reason people come to Lagos

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

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

Tenants have no problem buying a 2million naira phone just to browse, make call and take pictures.

But want a standard house for 40k per month
500k per year

For those that travel knows rent in lagos is way too cheap and bad business for any landlord

Even with the high price for the tenant

It is still bad business
You can't take monthly

It's 12months in advance
Anything you see during those 12 months, you wait till the next yr

Only Those that have buildings with apartments for rent will understand

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

my landlord have increased my rent from 480k to 850k I question him why he now serve me quit notice

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

Good advice. But once train reaches, what do you think dem landlords and landladies will do?

Vinnie2000:
As a Financial Expert once said

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

That's not feasible in the current Lagos.

Otherwise, you'll spend more than 2 months of your salary on transport.

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

But is it their fault though? They should not raise rent when everyother thing is going up? How would you have done it if you have your own house?

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

Hmm. Eye-opening analysis. It's always about the economics.

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

Wahala de o

Rilwayne001:
That's not feasible in the current Lagos.

Otherwise, you'll spend more than 2 months of your salary on transport.

The truth 😁😁😔😔

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. 🛑

My advise is to support the breakup of Nigeria.
Let the SE leave, that way U can have Lagos to yourself 😐

dederocs:
Your summation should tell you the influx of people from everywhere will lead to a rush on available properties and increase in valuation, this will definitely lead to high rental prices, as seen in places like London, new York etc.

True 🤨

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. 🛑

But Lagos state govt say na people from other Yoruba states they spoil Lagos na and na them plenty pass
They even have to deport some then back to their states and Osun people plenty pass

Good2go1:
"Civilized mentality" I disagreed with this. The attitude of yorubas is contradicting this asertion.the reason people go to Abuja is the same reason people come to Lagos

Yorubas in Lagos are not more than 30%, I mean the people in Lagos are more civilised than in other areas, because in Lagos you find high calibre people, with high calibre and refined thought process from different races, nations and tribes.

A lot of yorubas are civilized and educated, those boys collecting money from the streets are less than 2% of the yorubas in Lagos.

Good morning!

A very spacious 3-bedroom apartment is available for rent in Ajuwon (after Ojodu Berger).

Features:
• 3 bedrooms
• 3 toilets
• Dining area
• Library space
• Well-spaced rooms
Rent: ₦3,500,000 per year

If you or anyone you know may be interested, please feel free to reach out. I’m happy to share more details or arrange a viewing. 🏡

DM or call: +234 802 995 3228

Thank 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

My brother those moving there as landlord over there are increasing rent as a result of the train

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

Anybody please? Thanks

4

Ojodu-Berger is 200m

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

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

The one in Ayinde close were all built 2-3yrs ago