From your Annual Rent, Do You Bother To Calculate How Much You Pay Per Month? - Properties (2)

From your Annual Rent, Do You Bother To Calculate How Much You Pay Per Month? - Properties (2) - Nairaland

Nairaland Forum › Nairaland General › Properties › From your Annual Rent, Do You Bother To Calculate How Much You Pay Per Month? (6094 Views)

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Re: From your Annual Rent, Do You Bother To Calculate How Much You Pay Per Month? by escortafrik(m): 8:29am On Jun 07

Yes as a salary earner it is very important to do so, if not you will never be prepared. Have a separate account where you keep aside the calculated monthly amount and you’ll always have your house rent ready annually without running helter skelter

Re: From your Annual Rent, Do You Bother To Calculate How Much You Pay Per Month? by Druss(m): 8:32am On Jun 07

Xixtie:
Wetin OP post, wetin una dey talk?

I suspect they are members of a bot farm and someone's bots misfired!!!

1 Like

Re: From your Annual Rent, Do You Bother To Calculate How Much You Pay Per Month? by Britishcoins(m): 8:32am On Jun 07

Apart from my shop, I am a landlord in my village and Lagos...

Re: From your Annual Rent, Do You Bother To Calculate How Much You Pay Per Month? by gassbee: 8:33am On Jun 07

Esthered:
I don't budget it that way. I use Ajo to pay mine. The ajo is embedded in my monthly budget. I get the funds at the month due which I then use to offset my rent portion.

you mean your landlord allows monthly payment

Re: From your Annual Rent, Do You Bother To Calculate How Much You Pay Per Month? by femi4: 8:34am On Jun 07

essentialone:
From your Annual Rent, do you bother to calculate how much you pay as Rent per month?

It is insignificant
It doesnt reduce your rent

Re: From your Annual Rent, Do You Bother To Calculate How Much You Pay Per Month? by gassbee: 8:35am On Jun 07

Ibehchizzy:
Yea 50k a month
I pay 600k for a room and parlor self con yearly

600k which state is dat

Re: From your Annual Rent, Do You Bother To Calculate How Much You Pay Per Month? by Ibehchizzy: 8:50am On Jun 07

gassbee:
600k which state is dat

lagos coker

Re: From your Annual Rent, Do You Bother To Calculate How Much You Pay Per Month? by apelikirk: 9:36am On Jun 07

Risingblue008:
Checking mine,
I dey see 65k per month
That's 780 per annual

omoh 🤔🤔🤔🤔

Re: From your Annual Rent, Do You Bother To Calculate How Much You Pay Per Month? by Chukwudi4naija(m): 10:23am On Jun 07

Hussein035:
All you people wants to calculate is inflation

Do you forget that inflation is an indication of economic growth

When cement was sold at #1500 how many beautiful houses were built in your street? When fuel was #30 so many family still eat egg and bread on festival days only

In my village, when fuel was #85 per liter nobody build a house with sewage all we do is shit inside nylon and discard onto the bush. Fuel is now #1400 yet people are building 3 bedroom flats and big chopping complex

Inflation can never be stopped because it's an indication of growth

No need to downplay the government efforts pls

God forbid this kind of confident ignorance. Go and research about stagflation and hyperinflation. Inflation occasioned by demand is only beneficially if it's accompanied by increase in supply with supporting infrastructure, and not cost-pushed Inflation not matched with demand. That is why companies are closing down because the cost of production is so high that the effect on the price cannot be absorbed by attendant increased in demand due to weak purchasing power.

2 Likes 1 Share

Re: From your Annual Rent, Do You Bother To Calculate How Much You Pay Per Month? by Kokaine(m): 10:38am On Jun 07

400k added to my rent, now they're asking us to please contribute to buy new transformer. If I'm going what now happens to my transformer

Re: From your Annual Rent, Do You Bother To Calculate How Much You Pay Per Month? by tanigororo: 11:46am On Jun 07

My own Na ₦3,500 Tiri Tousan Five Hundred Naira of Nigeria Money

Re: From your Annual Rent, Do You Bother To Calculate How Much You Pay Per Month? by dontbothermuch: 12:35pm On Jun 07

Thanks for this.

Re: From your Annual Rent, Do You Bother To Calculate How Much You Pay Per Month? by nurey(m): 12:58pm On Jun 07

Emeskhalifa:
So the place wey u dey sleep when you don't sleep at the place you paid 15k for, no be house? Abi na ontop tree e dey?

It is a home but I don't pay rent. Free Accommodation is part of the benefit of working there.

Re: From your Annual Rent, Do You Bother To Calculate How Much You Pay Per Month? by Flesh10: 1:15pm On Jun 07

Lithiumite:
Any accommodation your 3 months salary cant cover for a year isnt for you!!

Oga keep quiet and stop following crazy rules you read in books.

Present condition in Nigeria most especially in Lagos breaks every rule

In Lagos where a rat hole is 3.5m how many people earn so much that their 5months salary can cover such rent talk more of 3months rent.

Let's assume you earn 500k monthly and you have a family of 4 (you, your wife and two kids) atleast you need a 2 bed room apartment but let's just say you can't afford 2 bedroom and you settle for a mini flat.

Most jobs are in urban axis in Lagos like Lekki, Ikeja, ajah, Surulere etc and in those places even a mini flat cost roughly 2m for cheap ones and above that for expensive ones.

If you settle for the cheap one 2.5m month. That means 5months salary 100% saved

You won't eat, you won't pay bills, you won't transport etc just pure 100% of your 500k salary saved every month in a mini flat that isn't conducive for your family.

If you want cheaper areas then you have to move away from the highbrow areas to areas like Ojo, Egbeda, oshodi, iyana ipaja etc. in these areas a minimum inconvenient flat is 1.5m for rubbish settings.

That's roughly 3months 100% salary without you eating, paying bills and trekking to work which is still not sustainable.

This is why I said you should just shut the Bleep up and stop quoting rules that aren't attenable in present day Nigeria.

We survive in Nigeria now by God's grace not by your useless rules. Anybody quoting that stupid rule is obvious still lives with his or her parents and hasn't house hunt before

3 Likes

Re: From your Annual Rent, Do You Bother To Calculate How Much You Pay Per Month? by Flesh10: 1:28pm On Jun 07

My rent jumped from 30k per month to 208k per month that's from 350k yearly to 2.5m yearly

Used to live in a mini flat where I paid 350k every year it wasn't convenient but I was managing it. I had almost zero ventilation and rules in the compound says no generator, no solar and no inverter battery.

In front of my window is a big building blocking ventilation and at the back is a fence very close to me. I was literally roasting alive but I was managing it because the rent was very cheap.

The landlord and his wife were torn in the ass, every day is threat of quit notice to tenants. Some visits you, quit notice, sometimes the landlady knocks at your door unannounced and tells you that she wants to inspect your house then walks in check everywhere, your room, kitchen, toilet and goes.

They even gave a neighbour quit notice for not painting his room for 3yrs grin

like every three years U must renew your paint.

They gave another quit notice because the mother in-law came to live with them in their two bedroom.. couples that had two little kids and needed the wife's mother to come live with them and look after the kids when they goto work, landlord served them quit notice saying they are stressing amenities in the compound grin

One was given quit notice because the wife brought his 7yrs old boy he had outside wedlock to come join her husband and their two children grin

landlady gave them quit notice that the boy plays too rough grin

With all those useless laws I was so fed up that I had to quit the compound. The heat was unbearable making me awake at night and unproductive at work then coupled with some psycho landlords despite rent was high out there I just needed to leave the compound and goto a sane place where I can have enough ventilation to sleep, comfortably run my solar and use my AC and avoid the madness of a deranged landlord and his wife.

I eventually got a 2 bedroom for 2.5m the rent scared me at first but I have been meeting up and my productivity improved at work

4 Likes

Re: From your Annual Rent, Do You Bother To Calculate How Much You Pay Per Month? by Emeskhalifa(m): 1:44pm On Jun 07

nurey:
It is a home but I don't pay rent. Free Accommodation is part of the benefit of working there.

Lucky you.

Rent is eating deep into my pocket

1 Like

Re: From your Annual Rent, Do You Bother To Calculate How Much You Pay Per Month? by Esthered: 5:42pm On Jun 07

gassbee:
you mean your landlord allows monthly payment

I meant I save it monthly though Ajo (contribution) and I make sure that my turn coincides with the rent due month.

Re: From your Annual Rent, Do You Bother To Calculate How Much You Pay Per Month? by Esthered: 6:09pm On Jun 07

Lithiumite:
Any accommodation your 3 months salary cant cover for a year isnt for you!!

This tip you wrote is far from the reality for most Lagosians.
Gentrification is crazy in Lagos.

2 Likes 1 Share

Re: From your Annual Rent, Do You Bother To Calculate How Much You Pay Per Month? by Risingblue008(m): 6:27pm On Jun 07

Bro and na two bedroom flat here in asaba ooo
Ths why u will find it hard to see pple smiling in asaba apart from weekends
Na the truth be this

apelikirk:
omoh 🤔🤔🤔🤔

1 Like

Re: From your Annual Rent, Do You Bother To Calculate How Much You Pay Per Month? by Kaczynski: 9:00am On Jun 09

Hussein035:
All you people wants to calculate is inflation

Do you forget that inflation is an indication of economic growth

When cement was sold at #1500 how many beautiful houses were built in your street? When fuel was #30 so many family still eat egg and bread on festival days only

In my village, when fuel was #85 per liter nobody build a house with sewage all we do is shit inside nylon and discard onto the bush. Fuel is now #1400 yet people are building 3 bedroom flats and big chopping complex

Inflation can never be stopped because it's an indication of growth

No need to downplay the government efforts pls

1 Like

Re: From your Annual Rent, Do You Bother To Calculate How Much You Pay Per Month? by essentialone(op): 11:45am On Jun 09

knowing you pay 1.2million as annual rent is not the same as knowing that you pay 100k as rent every month.

the latter helps you to plan, budget, and also gain clarity.

1 2 Reply

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