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Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos - Properties (5) - Nairaland

Nairaland Forum / Nairaland / General / Properties / Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos (60773 Views)

Shocking: Lagos Landlord Increased Rent From 450k To 550k, Claims Inflation / My Landlord Increased Rent At This Period / Caretaker Sues Tenant For Disclosing Her Rent To Others (2) (3) (4)

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Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by lloyds(m): 2:30pm On Dec 13, 2019
kponkedenge:
That's a subtle way of telling her to pack out. But I've always been discussing this with my friend, I can't pay more than 500k rent to any landlord in Lagos.....even if I'm earning millions monthly. Is better to stay in a room and parlour self-contain or two bedroom flat.... While working on building yours, than just cross leg in a rented apartment and paying exorbitant fees for a temporary luxury that can come to end at any time.

You are a wise man.
Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by Acidosis(m): 2:39pm On Dec 13, 2019
msmon:


Are u an estate valuer?
You make a lot of sense here...
Can I have your contact please

Mail not delivered

Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by fowlyansh181(m): 3:02pm On Dec 13, 2019
Favour988:

Why? When it's not a must you live in his house. He has d right to do what he like wt his house while you also have d right to leave if you are not o.k wt his decision.
I wonder why someone will make this a social media matter if not just to attention.
She has enough time to go look for another property if only she can stop wasting it on social media.
he doesn’t have that right , know your rights Nigerians and stop allowing ignorance best you into submission p
Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by Ofemmanu1: 3:11pm On Dec 13, 2019
TonyeBarcanista:

I live in Abuja and houses here are expensive!

BTW I Bariga apartments are relatively affordable! Anyway, until we see pictures of the apartments and the area in Bariga... But I think her landlord doesn't want her anymore
Barcanister..
That moniker is epic.

Since you stop talking, NL politics has gone to the dogs, where you see rabied zombie dogs talking anyhow on here..

E.g Illiterates like saki, mannabbqgril(suyaselling basterrrd), amakpe, abokki, shoe shiners, Mai shara, Mai ruwa, alimajiri, etc have taken over..
But the end is near for them all, nemesis is catching up, they'rall die a horrible death for supporting maj. general cow of Congo.
Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by Nwaonyishi69: 3:14pm On Dec 13, 2019
iTearHerToto:
She took to her social media page to share the notice letter she received.


Now how's social media gonna assist in restoring the previous rent?
Like how
[img]https:///view/confused-whitepersanguardian-why-gif-10312546.gif[/img] Please, make no mistakes, this may be a creative way to inform her share holders of upward review of her brand or class of services. If you know, you will know what I mean.





Pukesangry
Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by PDJT: 3:17pm On Dec 13, 2019
Kennydoc:


550k per annum is not cheap as rent in Nigeria biko. That is nearly 50k per month in a nation that minimum wage is just being pushed up to 30k per month. Many graduates don't even earn 50k salary per month. And we're even talking about Bariga, not Ikoyi, VI, Maitama or Asokoro.

-Perhaps accommodation is not affordable for some people in the city. I always recommend they re-evaluate and see if they can move to a town or village. Sometimes it helps to take a step back in order to take a couple of steps forward.

-Everyone can’t be in the city; there is healthy life outside of it.
Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by nobilie: 3:19pm On Dec 13, 2019
No big deal, consult a lawyer. They want you out and a new tenant in. Landlords have turn their houses to only business. Agreement and commission is juicy.
You can stay in that house one year without paying. Nah landlord go come for settlement.

Rubbish.
Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by Nwaonyishi69: 3:19pm On Dec 13, 2019
iTearHerToto:
She took to her social media page to share the notice letter she received.


Now how's social media gonna assist in restoring the previous rent?
Like how
[img]https:///view/confused-whitepersanguardian-why-gif-10312546.gif[/img] Please, make no mistakes, this may be a creative way to inform her share holders of upward review of her brand or class of services. If you know, you will know what I mean.





Pukesangry
Please, make no mistakes, this may be a creative way to inform her share holders of upward review of her brand or class of her services. If you know, you will know what I mean.
Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by Nobody: 3:24pm On Dec 13, 2019
We call this coded eviction notice

The figures say 1,000,00,000; e resemble billion o
Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by emsco(m): 3:54pm On Dec 13, 2019
fake news, I'm sure she did this to gain attention. No apartment in Bariga worth that amount when she can get better apartment in cool areas like Ikoyi or Vi for same amount.
Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by Timmie101: 4:13pm On Dec 13, 2019
The lady needs to be wise, she can buy a plot and start building her own house at Sango Ifo axis with that amount, else she will keep worshipping landlady/landlord.
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Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by Tunagee(m): 4:56pm On Dec 13, 2019
Sanchez01:
I'm suspecting the apartment to be a 3-bedroom. Either way, a three bedroom of 1m in Bariga can't fly nau. The area is largely unsafe and has one of the highest concentration of thugs and cultists in Lagos.

That amount should be the rent of some areas in Surulere and not Bariga.

Exactly!! Bariga for that matter! An area where people don't have peace of mind cos of thugs and bad gangs. nonsense!
Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by beresponsible(m): 5:04pm On Dec 13, 2019
shiwex:


Nothing is illegal, you own the property, you do what you like with it. If you are not happy, bail out or go build your own.
Landlord Assoc. chairman you are in the wrong meeting here's tenant assoc. meeting
Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by armadeo(m): 5:05pm On Dec 13, 2019
partnerbizn4:
Nawao.

That's almost 100% increase. Quite outrageous.
Government should intervene by building more houses to crash these prices.

Lol. She should pack out. There are affordable houses only you may hate the environs.

That increment is too much it tells me they want her out. If it were me I will be looking for another house pronto.
Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by armadeo(m): 5:06pm On Dec 13, 2019
spillia:
This is too much, the woman should drag the landlord to court.






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Court for her property? Are you the one to tell her the value. Sometimes you people like wahala for no reason. If landlord does this to me. 1. I talk to reduce if no reduction then either I pack or I pay. Simple.


No be me get house.
Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by chukzyfcbb: 5:22pm On Dec 13, 2019
Acidosis:


Do you know the value of the house? When a landlord tells you to pay N1m annual rent, it means the value of the house is worth over N50m.

I believe it s easier to pay N1m annually and invest the remainder (49m) for more and better returns.

Of course, it is cheaper to build on a 250k plot of land in the creeks of Ikorodu and raise a home with 1.5m than spend almost the same amount in a well structured area in Lagos.

If the OP is willing to relocate to the hinterlands of Ikorodu, then it is "penny-wise" to build.

My argument has always been simple: RENT versus BUILD in the SAME LOCATION. Don't compare RENT in a serene well structured area with the creeks. Let's compare same location and see which is cheaper on the short and long run.

When someone tells you they pay rent of N4m in Marina, don't curse them. That amount can't acquire ordinary 4 square metre virgin land in Marina. You won't even get ordinary government approval with that amount.
this is false.

A house that yield 1m cannot be valued at 50m, if you pay 50m for a house that yields 1or2million, you have been cheated.

both of us share lots of ideology in the investment stuff in NL but on this one I disagree with you.
Properties of 50million should yield atleast 2.5m on the mainland.

A house that yields 1m should be valued at no more than 20m. Max 20million!
Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by Acidosis(m): 5:32pm On Dec 13, 2019
chukzyfcbb:

this is false.

A house that yield 1m cannot be valued at 50m, if you pay 50m for a house that yields 1or2million, you have been cheated.

both of us share lots of ideology in the investment stuff in NL but on this one I disagree with you.
Properties of 50million should yield atleast 2.5m on the mainland.

A house that yields 1m should be valued at no more than 20m. Max 20million!
Hmnn thanks for the insights.
Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by Skyloloprince(m): 5:40pm On Dec 13, 2019
I would love to respond to that letter, won’t collect any money from you, send a mail to skyloloprince@yahoo.com let’s trash this injustice.
Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by poweredcom(m): 5:43pm On Dec 13, 2019
They just want her out hahaha
Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by TonyeBarcanista(m): 6:11pm On Dec 13, 2019
Baba man pikin de hustle o grin


Longest time bros
Ofemmanu1:

Barcanister..
That moniker is epic.

Since you stop talking, NL politics has gone to the dogs, where you see rabied zombie dogs talking anyhow on here..

E.g Illiterates like saki, mannabbqgril(suyaselling basterrrd), amakpe, abokki, shoe shiners, Mai shara, Mai ruwa, alimajiri, etc have taken over..
But the end is near for them all, nemesis is catching up, they'rall die a horrible death for supporting maj. general cow of Congo.

1 Like

Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by hustla(m): 6:37pm On Dec 13, 2019
blackboy:
They dont want her in the house or they found out she earns mega pay or trying to bargain.
The babe should show us pix of the N1m house.
The rent increase is ridiculous

Lol they don't want her in the house obviously
Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by paix(m): 6:48pm On Dec 13, 2019
Check the figures very well. The letter indicated 100,000,000, not 1,000,000:00.
Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by Nuklex(m): 7:14pm On Dec 13, 2019
ITbomb:
Maybe there has been a massive renovation
Which kind massive renovation? Is he putting AC, elevator and standby Generator for the house. Including health and life insurance?

1 Like

Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by yeniyeni(m): 7:16pm On Dec 13, 2019
What does she do for a loving?
Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by pfadom: 7:29pm On Dec 13, 2019
Is the figure in the letter really N1m.
Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by Olufemiolaolu(m): 7:45pm On Dec 13, 2019
paying such an exorbitant amount in a ghetto area like Bariga is absurd and foolish.
Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by Daboomb: 7:49pm On Dec 13, 2019
partnerbizn4:
Nawao.

That's almost 100% increase. Quite outrageous.
Government should intervene by building more houses to crash these prices.

Exactly! If there are more houses, the natural laws of demand and supply will negotiate the price on tenant's behalf, not tryingto use force.

Imagine, price of a bag of Rice went up from #9,500 to around #24,000 in the last two months. That is over 250%.
We still buy the Rice, right? Aftera, we must eat the Rice. we did not kill the seller nor riot on the Govt.
Other products in the market has also gone up in prices, at least double, within th elast one year.
Transport costs has also more than doubled, in the last one year, we still enter the Bus, right?

Now, if a Landlord who depends entirely on his RENT, for his source of living (assuming that is his own investment just like we all have our own investments and returns) goes to the market and finds that prices have gone up by 250%, that means for him to survive, his "income" or investments must generate an increase of 250% as well.

So, in that "mindset", we cant really blame the landlord for wanting to survive on his own investment, what he sells, like Rice sellers, Clothes sellers, meat sellers, Transport operators, e.t.c
Otherwise, he would only feed for four months, out of the twelve months of the year!

So, what we need to do is build more Govt and private houses, to crash the price of rent while APPEALING to the Landlord to absorb some of the rising cost of living, by suffering some more loss, on the value of his own investment.
Fighting him on Social media is just a waste of time and energy.
You cant use your own money to buy fast, luxurious cars, travel around the world, enjoy life while someone else uses their to build a house and you expect to leave there for cheap. It does not work that way.
Some people really suffer (and some die in the process), to build their own house, in a country where Banks wont give you mortgage to build

Everyone should also save towards building their own house, no matter how small it is for a start.
Buy land and build a Mini Flat on it and like that you are a Landlord!
Then you can tell your Landlord to keep his 100% increase and die of hunger. grin undecided
Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by Daboomb: 8:07pm On Dec 13, 2019
chukzyfcbb:

this is false.

A house that yield 1m cannot be valued at 50m, if you pay 50m for a house that yields 1or2million, you have been cheated.

both of us share lots of ideology in the investment stuff in NL but on this one I disagree with you.
Properties of 50million should yield atleast 2.5m on the mainland.

A house that yields 1m should be valued at no more than 20m. Max 20million!

A lot of things determine the (rental) Value of a Building, not least of it is its LOCATION!
#15Million will build a good house in the creeks of Ikorodu (lnad cost inclusive) and rent will be like #200,000/Annum, maximum.

In Bariga (to use the example we are discussing here), #20Million will not even buy you the plot of land.
Now, if it were in good lacations around Ebute Metta, plot of land goes for as high as #60- #80Million per plot.
So, if you buy such plot of land and build on it, will you be expected to rent it out for #300,000/Annum or #2million/Annum?

Also, when renting a house, one will have to chose between living far from the city or living within the city.
If you live far, say Ikorodu Creeks, you will probably spend half of your life-time in Lagos traffic, with its attendant issues like traffic robberies, breakdowns in traffic, cost of repair to your vehicle, little sleep, not seeing your children, etc ...but you massively save on Rent.

On the other hand, a smart person will rent in areas within the city, especially close to major roads/express (this is why places like Bariga, Iwaya, Ebute Metta, comes to mind, they are a stne throw to the Thrid Mainland Bridge) and expect gains like reaching home very quickly, less wear and tear on their vehicle, business opportunity for thos in trading, lots of family time, etc.
This is what you pay for, when you live in such areas and this is why their rents can be very high.
Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by Lescottyjaido(m): 8:09pm On Dec 13, 2019
No be small thing ooh. God go bless us too
Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by chuklesley02(m): 8:21pm On Dec 13, 2019
Probably the landlord just realized she is a small gal with "god" and he no longer wants such ladies (and her crew)in his compoud. You guys should not be quick to judge the landlord.
Re: Lady's Landlord Increased Her Rent From N550,000 To N1million In Lagos by olamariamjonez(m): 8:50pm On Dec 13, 2019
She has two choice.
Pay or leave.

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