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Increment Of Rent All Of A Sudden - Properties (3) - Nairaland

Nairaland ForumNairaland GeneralPropertiesIncrement Of Rent All Of A Sudden (11251 Views)

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Re: Increment Of Rent All Of A Sudden by erniok(m): 2:01pm On Apr 29
IyaTola:
Extremely strenuous because I know if a case in Bariga that lasted over 18yrs, the landlady had to resort to self help to eject the tenants.
That's why I told the guy it's strenuous. The court mandates most times you keep paying old rate until it determines the suit.
Re: Increment Of Rent All Of A Sudden by udemzyudex(m): 2:07pm On Apr 29
Omo e no get wetin you wan do, even if get a lawyer and you settle it now, and you ended up paying the normal price you paid, next year he'll increase it again.
Re: Increment Of Rent All Of A Sudden by lsoul: 2:09pm On Apr 29
Nigerians are not just ready. most people see the landlord as the enemy, whereas the common enemy is the government
inflation is the caused of it all. Fuel was increased with over 500 percent, exchange rate over 500 percent. cost of transportation , cost of feeding all increased over 500 percent yet salaries wasnt increased up to 100 or 150 percent. how can it fit in?
some will say landlord built their houses years back. can you say so to farmers who had lands years back?
inflation affects everything i mean everything. salary earners bears the burnt we all did this in economics at ss1.
we should hold the government and not the landlords. even the government increased property tax.

this is just a big problem but nobody is talking about it. just give it more years and everywhere will explode.
Re: Increment Of Rent All Of A Sudden by occfx: 2:12pm On Apr 29
Problem dey ooo, crime go surplus
Re: Increment Of Rent All Of A Sudden by Ijaya123: 2:16pm On Apr 29
Abaziaka:
The high rate of building materials
will always result to this
And sometime it's not the fault of this landlords maintaining this property with exorbitant prices of building materials in the market it really difficult
What year was the house built?
Re: Increment Of Rent All Of A Sudden by ajalawole(m): 2:19pm On Apr 29
Kobicove:
Don't be too quick to blame the landlord.

First go and find out the price of building materials.

I had cause to renovate my house recently, the first bag of cement I bought in February was 11K but right now I'm buying cement at above 12K a bag...in under 2 months the price increased by about 2K
I know about the price of cement. What is the justification to increase rent twice within a year. Is it every year landlord renovate apartment.. if it's not wickedness there is no justification to increase rents yearly.
Re: Increment Of Rent All Of A Sudden by Olumaeme: 2:20pm On Apr 29
That is more than enough notice period and no longer sudden.

A Landlord can increase their rent as they deem fit. Did FG gave you notice when they increased fuel from 200 to 1k?

You can negotiate, or start looking for somewhere else or jejely pay.

Sorry about that, the country is hard on everyone including the landlord and people get money from their investment which house for rent is not even a good investment to start with.
Re: Increment Of Rent All Of A Sudden by ajalawole(m): 2:24pm On Apr 29
Spaxon:
the issue now then is paying agent fee and the rest of the stress
office that water don't run in for 350k....whereas I spend 2 to 3k weekly for aboki to supply me water. With that 350k I can get a good apartment in ilorin to use for my office and still keep change. Agents won't collect pass 20k
Re: Increment Of Rent All Of A Sudden by ajalawole(m): 2:30pm On Apr 29
Ijaya123:
What year was the house built?
don't mind him. Where I use as office was build in 1976. The first rain of 2023 blow front of the roof off, the landlord started to work on it, and part of the roof were cast so as to make hidden roof..... Since then have not been able to use one of the room out of the 2bedroom flat I use as office because it leak till date, don't know who swapedly advice the landlord. He increased the rent by 50k last year, he bring notice just on Monday that he has increased the rent by 100k. What was the justification for that whereas us that stay upstairs have not been able to use some rooms in our office.
Re: Increment Of Rent All Of A Sudden by alamscolo(m): 2:32pm On Apr 29
This debate has been on for a while.
Some landlords are greedy but also the cost of renovation is really on the high side now.

The best prayer is that one should pray to have his own space no matter how small

There is no justification to increasing rent twice a year. Left to me increasing rent every year sef Na wickedness.

If you're interested in an ½plot around Gbaga in ogijo axis. I have one to sell at an affordable price
Re: Increment Of Rent All Of A Sudden by Ebydeb: 2:32pm On Apr 29
Inasmuch as i dont support hike in price of things. The best advice for you is to move to an apartment within your budget.
Re: Increment Of Rent All Of A Sudden by Olumaeme: 2:32pm On Apr 29
ajalawole:
oga na lie. Where my office is was build in 1976, the owner has dead, his son was in charge. How can you explain rent increments of 150k within a year.
1. A landlord can increase their rent, its their right. Just like its your right to leave and get somewhere else.

2. Your landlord is a businessman, he invested in the property to reap benefits, and not because he loves you and humanity. He worked, instead of carrying OS, he decided to build something to fall back to in the future.

3. There are several reasons for price increase; i. Inflation; ii. Market Value of Property; iii. Demand and Supply.

4. Lets take inflation; He built his property in 1976, the exchange rate at that time is N1 = $0.62. Today N1 = 1400, that is 225,706.45% increase. Now multiply the rent in 1976 by 225,706.45, it gives you what the price should have been today. are you paying that more? this figure you are getting would have been for him to break even.

Understand that, the USD is just a unit of measurement, you can replace it with anything, Maybe gold, silver, even cattle. That how much was a cattle in 1976, how much is cattle now, calculate the % difference and apply it.

1976 to 2026 is about 50 Years, it means that the landlord must be maintaining his property well enough to last up to this time.

I hope this helps.

Also and most importantly, you can start putting money together now to build your house so that you can charge that fair price and be a good landlord.
Re: Increment Of Rent All Of A Sudden by altteemy(m): 2:43pm On Apr 29
erniok:
Dunno your state but it's 6 months in lagos.
Thanks for the update. That's the issue with domestication of laws.
Re: Increment Of Rent All Of A Sudden by cucumbar: 3:00pm On Apr 29
Smartguyboy:
I got a message today from the management in charge of the apartment I am living they increased the rent from #1,250,000 to #2,000,000 and my rent will expire this September . Please lawyers in the house what can I do ?
mchewww your own small. What of the one dem increase from 2m to 4m ? Na just small 750k nau.
Re: Increment Of Rent All Of A Sudden by Sonofgod1990(m): 3:12pm On Apr 29
Neoteny:
Yet you're whining about a meager 200k lost to an "investment"
You should know what it means for somebody to load his or her account with 500k just to waste it on betting. I purposely loaded the opay account for the sportybet stuff. Okey?¿

Re: Increment Of Rent All Of A Sudden by MasterTeeUSA: 3:17pm On Apr 29
Go and BUILD your own house....Move out and stop dragging house with the owner. Look for another HOUSE or move back to your parents' house. Why should lawyers teach you how to drag a House you do not own? This is APRIL. You have MAY, JUNE, JULY, AUGUST, SEPTEMBER...look for another house and save yourself from embarrassment...don't you have SHAME? You want to destroy a relationship because you want to insist on staying in a house you can no longer afford.





Smartguyboy:
I got a message today from the management in charge of the apartment I am living they increased the rent from #1,250,000 to #2,000,000 and my rent will expire this September . Please lawyers in the house what can I do ?
Re: Increment Of Rent All Of A Sudden by Ade1177: 3:19pm On Apr 29
You won't believe some people in 2026 are paying 250k for 2 bedroom flat in this same Nigeria

They will just be laughing at us paying 2m for 1 Roomself grin
Re: Increment Of Rent All Of A Sudden by MasterTeeUSA: 3:20pm On Apr 29
If the market rate is less, then move to those houses...don't disturb the landlord with your negotiation. When you enter into JustRite, do you negotiate? No, you go to local market and buy at the price you can afford.




azpekuliar:
You still have time to respond strategically. First, commission or conduct a survey of comparable properties in the neighborhood to determine the prevailing market rent. If the new figure is above market, that data gives you solid grounds to negotiate with the landlord. If it turns out to be in line with the market, you will need to decide between paying or relocating. Five months is enough time to plan accordingly.
Re: Increment Of Rent All Of A Sudden by MasterTeeUSA: 3:25pm On Apr 29
I just did a resurfacing of exterior of a building used by tenants and repainted the fence because of the clothes they are always hanging with nails...the whole thing cost over N1m. Labor alone is not smiling.

Tenants move out, pay caution of N100k, you spend N150k to fix the place up, who is losing money? Even if the house is old, never renovated...if it is too expensive, do not rent it. When the landlord cannot rent, he will adjust the price...if he does not adjust, it is because he feels it is a fair price.

I was just told to reduce a room self contained close to Poly Ibadan to N400k from N450k...Told the agent, NOPE. If it is a couple, the rent is N500k because two people always destroy apartments much more. That is my experience. I would rather leave it empty for now, then spend so much to fix it back.





Smartguyboy:
I got a message today from the management in charge of the apartment I am living they increased the rent from #1,250,000 to #2,000,000 and my rent will expire this September . Please lawyers in the house what can I do ?
Re: Increment Of Rent All Of A Sudden by azpekuliar: 3:29pm On Apr 29
MasterTeeUSA:
If the market rate is less, then move to those houses...don't disturb the landlord with your negotiation. When you enter into JustRite, do you negotiate? No, you go to local market and buy at the price you can afford.
lol.. I agree with you but negotiating is part of our culture too.
Re: Increment Of Rent All Of A Sudden by Ovieemmanuel: 3:31pm On Apr 29
favour32:
The increment na nationwide.
Get different streams of income and feel less pain.
make una advise person oooo. Which kind diffrent streem of income person go do naaa.
Re: Increment Of Rent All Of A Sudden by Snradvlandlord: 3:43pm On Apr 29
Painful truth: many landlords are not increasing rent because they’re greedy — fuel, repairs, security, taxes, artisans, and building materials have all skyrocketed. But jumping from ₦1.25m to ₦2m at once can still shock a tenant badly.

Best move? Don’t fight emotionally first. Negotiate. Ask for a softer increment, longer notice, or phased increase. A good tenant is also an asset landlords shouldn’t lose carelessly.
Re: Increment Of Rent All Of A Sudden by Kobicove(m): 3:47pm On Apr 29
Babalegba:
Lol, you'll be lucky to get a plot of land for that price.
You dey mind am, make him dey talk wetin him no know
Re: Increment Of Rent All Of A Sudden by Urgent1Million: 3:55pm On Apr 29
DeltaBachelor:
Well, look at your rental contract /agreement. If it is stated there that it can be increased without any prior notice, then you just have to follow through

Update : 2 years and 6 months ( If that’s what you mean by 2.6month) is enough to issue a notice of increment. I think 2 years is even the benchmark. So bros, nor vex, try pay or better still, find somewhere else cheaper or dialogue with him
Lagos property owners don't even consider any duration.
I got my rent increased twice in two years.
And it was a 76.5 % increase.
I couldn't move because it's still the cheapest apartment in that area, and one of the cleanest and most comfortable - gated, interlocked, very close to the expressway, 3 mins walk to a local market, just 3 apartments + landlady's house, standby generator.
And the young landlady is really cool. We have drinks together in the compound during some good weekends, buys gifts for us on our birthdays, brings stuff when she travels.
Re: Increment Of Rent All Of A Sudden by MarkNsukkaBread: 4:00pm On Apr 29
Sonofgod1990:
You should know what it means for somebody to load his or her account with 500k just to waste it on betting. I purposely loaded the opay account for the sportybet stuff. Okey?¿
Na who send you make you go use 500K play Sortybet? grin
Re: Increment Of Rent All Of A Sudden by Neoteny(m): 4:02pm On Apr 29
Sonofgod1990:
You should know what it means for somebody to load his or her account with 500k just to waste it on betting. I purposely loaded the opay account for the sportybet stuff. Okey?¿
You called it an investment, and were lamenting over ordinary N200k.
Re: Increment Of Rent All Of A Sudden by Sonofgod1990(m): 4:04pm On Apr 29
MarkNsukkaBread:
Na who send you make you go use 500K play Sortybet? grin
I did it for fun bro. I purposely transferred the money from my eco bank to that opay just to use it play bet for the fun of it.


My boys for HK dey consume about 40k daily. And I have been doing that for about 3 years now. What seems impossible to you is very possible to your neighbour


I have about 15 boys in my office and I spend about 4k daily for each of them
Re: Increment Of Rent All Of A Sudden by wunmi590(m): 4:05pm On Apr 29
Smartguyboy:
I got a message today from the management in charge of the apartment I am living they increased the rent from #1,250,000 to #2,000,000 and my rent will expire this September . Please lawyers in the house what can I do ?
Apart from the fact that the money is outrageous, from the previous amount to the present amount, the notice is short, you are supposed to be given a 6month notice, and thats just a 5month notice...

Speak to the representative
Re: Increment Of Rent All Of A Sudden by Sonofgod1990(m): 4:07pm On Apr 29
Neoteny:
You called it an investment, and were lamenting over ordinary N200k.
Boys for my office dey consume that 500k in less than a month.

You don't just know what's really happening out there
Re: Increment Of Rent All Of A Sudden by GeneralOuki: 4:42pm On Apr 29
Diamonddris:
Wahala too much o

My inlaw had his rent increased to 2,000,000 from 500k in Agege
I'm struggling to believe this because There's just no way naw.
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