₦airaland Forum

lastpage:
Aaah! I never knew it will be this long o!
Please forgive me, just skip the nonsense l wrote, sometimes l get too drunk and just type-away.
Rubbish.

Lastpage!

Oga, you have done justice to this topic. I must say thank you for this.

Meanwhile, can you kindly share with us a sample lease agreement that you have used. We will appreciate that.

Secondly, you mentioned that after the 30 days and 7 days notices, the tenant is automatically ejected. Looking at our terrain, what if the tenant request from the judge that he needs adequate time to get a new place, say 6 months, will the request not be granted. Or is it that tenancy law as regards lease in Nigeria allows automatic ejection after the 7 days. Thanks

lastpage:
Why Rent/Tenancy? Why not a Lease/Lessee? I only do Lease and it is for "certain" period, with option to offer to have another Lease in place, just as the current one expires. It has really served me very well because l have a few buildings that l manage and l dont use Agents, except for the initial process of giving out the Lease, where they bring prospective Lessees.

It is a bit involved and requires a bit of attention to details, a "Tight Agreement" that l drew myself, with a good knowledge of tenancy Laws.BTW, the Law allows you to go into exclusive agreements with a [erson taking your Lease, with regards to the duration, quit terms, etc and it is binding once you both agree to it.
Also, select your occupiers by yourself, dont allow one Agent who is just after his commission, to just "dump a problem occupier" on you, it will be your headache after that! Infact, this is the most important thing a House owner can do, to avoid trouble. It is not everyone that can pay he first payment, tha deserves to live in your house, beware!

I wish l can give you a detailed analysis but time is not on my hand right now.
Your Lease agreement will determine your Peace of mind with those who occupy your premises, so pay attention to it as to what you want to happen (within limits of the law) and get it properly signed and Stamp dutied.
Never do Rent, do a Lease, a Lease certain and be wary of "Agent Lawyers", they love to play both sides while making money off both sides.
I only use Lawyer if l have to go to Court but my Lease agreements are so detailed and legally tight enough to the point that l have never gone to Court to eject a Lessee (occupier) though l also play fair with my occupiers and l go etra mile to make sure they enjoy thier money, with a lavishly furnished Flat and good environment.


Lastpage!

PS: Sorry, l am in a hurry and you can see tha l dont even have time to do my usual color-colorings!

Pls sir , what is the difference between lease and tenancy agreement

What are the benefits to the Landlord. Thanks

Thanks to all for the advice on the choice of doors

However I observed that no one has recommended MDF/HDF floors. Is there any reason for that. Thanks

Good evening all the Gurus on this platform.

Pls I need your advice

I intend to change all the internal doors and toilet doors in my personal house. The old china doors that I installed about 8 years ago are peeling off

Kindly advise on type of doors I can replace them with. The most important is DURABILITY. Thanks and God bless.

Hello house, happy Sunday

Kindly advise on the type of door one can use for a bedroom and the toilet. The apartment is for rental in a highbrow area

My objective is durability and average cost. Thanks

Oga LordAdam 16

Permit me to share your views in another platform

LordAdam16:
...It's not about being a "right-wing black." There's a reason why Ethiopians did not form a bulk of enslaved Black people, why Ethiopia was never colonized in all of history, why they never tried to conquer south deep into sub-Saharan Africa instead preferring to conquer into the Arabian Peninsula at the height of their powers, and why to this day their people in the diaspora subconsciously like to keep their distance from other black Africans.

Ethiopians are blacks. Like the rest of us.

Yes, African Americans had it bad. But so did every ethnicity in the Middle East, so did the Egyptians, the black Nubians (modern day Sudan), so did the British at the hands of the Romans and Vikings, so did the French, Germans, Chinese, Koreans, Indians at the hands of the Muslim conquerors, South Americans at the hands of the Spanish, Javanese (and other Indonesians) at the hands of the Dutch, every ethnicity in Eastern and Central Europe at the hands of fellow Europeans and Islamic expansionists, Iberians at the hands of the Moors.

300,000+ black Africans were taken to the US as slaves. Japan lost at least that many in two days when the US dropped Little Man and Fat Boy in WW2. If Emperor Hirohito hadn't surrendered, the Yanks were preparing to drop 4 more nuclear bombs with estimated death toll of additional 500,000 people at the minimum.

Even us here had to deal with our own crap.

Everybody has their own story. Everyone else is picking themselves up, dusting themselves, and seeing to it that they leave a sound economic, cultural, structural standing for their descendants; meanwhile the AAs are all too satisfied smoking weed, selling crack, wearing Yeezy's, killing themselves in the projects and trying to convince the rest of the world that they had the worst.

Yea, we f*cking get it. Here's an idea: How about you beat the odds and earn the respect you so desperately seek.

I'm sick of hearing Chinese miracle, Dubai miracle, Asian Tigers; I want to hear and read about an African [American] miracle.

If US no favor you and you fil say e get where beta for a black man, you have one of the strongest passports; pack your bags and pursue economic excellence elsewhere. Let us see how the Chinese, Indians, Arabs, Asians, South Americans, Europeans with the EU-citizens-first practice, even us Africans here will accommodate your whiny a$$.

If e too much, demand for the Israel treatment. Don't worry, we'd donate land. Land boku for Africa. Come here so we all can see the miracles you'd perform that'd be different than Haiti, Jamaica, Liberia, and other terrible examples too numerous to mention. Since it's the white man that's responsible for all your problems.

-Lord

Good lecture, very interesting sir

So the problem is colour of skin?

ositadima1:
From 16% all the way down to 5%, I go run out of this one o. Or maybe he don late...

JIRO....Jump In, Run Out

It's well

Sholapey:
Then you be back to square one.
In stock markets, you can't predict what tomorrow will hold.

in NTB. Capital is safe

In Property, capital is safe

But in stock markets, we gamble.

Do you gamble in the stock market?

You only gamble if you don't have the knowledge of the market

You must know why you are buying any stocks

emmanuelewumi:
You did not include the interim dividend of 30k in your calculations

Total dividend was N2.80k.

I deliberately made it 2.5 just to be conservative and because of COVID, at least for this year

Sholapey:
But your Capital could crash to 15m in 6years.
No one knows tomorrow of stock markets !

It's possible, but the dividend will continue to come

emmanuelewumi:
You are now a don in this business ooo

Oga, you opened our eyes to opportunities

Just an option for someone that doesn't want tenant problems

I am not the one that offered 31m

Sholapey:
I rejected 31m someone offered me yesterday.

With 31m naira, I will get 1,937,500 units of Zenith bank @ #16/unit

@#2.5 dividend (because of COVID), that gives #4,843,759 naira annually

With dividend yield @15.6%, capital will be recovered in 6.5 years

stcool:
A lot of you talk trash in this forum.

Pray for what exactly, that banks did not charge me fees during all my transactions in the lockdown even while i did not work?

Or Gtb did not debit me at the end of the month for their loan?

Carry your religion fanaticism elsewhere!!!

Don't piss us off...its too early.

Maybe he has another investment scheme to introduce to us

Akin3891:
You don't feel free or safe discussing business/investments with friends that can't keep up with you financially, how can you gist about buying bonds worth of millions with a friend that doesn't have 500k in his account, you are only brewing jealousy which could consume one life. Sometimes, the more you grow financially the less friends you should have.

You've got a car,a house, a family and other things that make life comfy, but a buddy that is struggling to keep up.. how relax can you be having drinks in a bar with such friends.. ? seems playing with fire... Each conversation you have with such friend becomes a trap of jealousy that may result in conflicts. God help you if you have the type that smile and laugh convincingly to be worthy of a true pals but deep down, he's patiently waiting for your downfall n the day he will say.. shey na only

On point...

It's better to drink alone

emmanuelewumi:
Which institution did you use?

Fbn quest.....we are still on it

[quote author=emmanuelewumi post=91411219]The fact is that real friends and business savvy friends are scarce, what most of us have are drinking partners some also have Shinaaa partners. How many of the so called friends can we discuss planning for the future with?[/quote

You are on point Pa Emma, especially the last sentence. When I was preparing my Will, I could not confidently identify a good number of my friends that I can use as executors/trustees. I had to settle for an institution as Executor. It's difficult to trust anyone these days

OBAGADAFFI:
Oga it depends. There is a property around Shomolu valued @ N15 million with rentals of N6 million.

My point is if a business is generating lots of income no need selling.

if that is the real value and the rental is guaranteed 6m, i am interested o

i hope you personally conducted the Search.....and not through a third party

arduino:
Forget "sabiness" for Abuja land now. I did land search and it came out clean. Got to understand these land racketeers are agents of some big officials of AMAC and AGIES. Anyways, any land investment for me now will be either Nassarawa, Plateau, or Niger State. My eyes don clear.

if your search came out clean, AGIS would issue you an official letter (search report) indicating that you conducted a search and that AGIS certify the allocation letter to be genuine. With the report you can sue AGIS if you discover the allocation letter to be fake later

ojesymsym:
From that guy's explanation, he had copy of papers for an original land, just that the papers were not for the land he was going to pay for. So in that case, if you do a search, the agencies will rightly say it is genuine but how does the buyer know it is not for the so called land he wants to pay for?

Once you are approached by a seller, get a surveyor that will identify the land for you to be sure you like the location and confirm size. Details of the land are on the allocation letter. The next is to confirm the allocation letter (R of O ) is genuine which you do at AGIS.

emmanuelewumi:
How I wish it will be this simple in Lagos and Ogun States

Very simple sir. You don't even need a lawyer.

arduino:
Just about two weeks ago I lost 2.5Million to one of Abuja land scams.
Some Nigerians are corporate thieves and don't have conscience at all.

The situation is better in Abuja. The most important thing is that don't buy land allocated by Area council's, instead buy the ones allocated by FCDA
Secondly do a legal search on the allocation paper before paying the seller. Go to any Zenith bank, pay 10k for search and take the teller to AGIS with an application for Search. At AGIS, present the allocation paper for search. There and then you will be told if the paper is genuine or not. You will be given an official letter to that effect.
It takes just about 2 days. If you follow this procedure, you can't be scammed. Except you are buying from estate developers most of which don't have approval for the estate they are marketing especially those along Airport road

emmanuelewumi:
I gave him options of what to invest on, that suits his temperament. It can be bonds, real estate, stock market and any other assets.

A member of this thread paid 450k in 2009 for LASG land scheme, up till now subscribers have not be given land, just 4 years ago government promised to refund the money paid by subscribers which they are yet to pay back.

@ Shogbenga you can share your story here.

A bank financed a real estate project at Gbagada because the land was bought from LASG and they were given certificate of occupancy. Omo onile disturbed the project, when the bank and the project promoter went to LASG, they were advised to negotiate with the Omo onile. They had to pay almost twice of what they paid to government to the Omo onile.

So it is not everyone that has the temperament for this type of stress

Confirmed sir, I applied 11 years ago and made all payments. Paper allocation was given. No physical allocation
The excuse by the govt was that omonile did not allow them to take possession of the land. We were advised to apply for refund. It's 5 years now, stories

ukay2:
Because of their troubles

I have a tenant that is owing 5 months rent right now. His rent was due end of January. It's stories every day. Very frustrating. He said he is a Pastor

emmanuelewumi:
What type of challenge?

What I mean is that I am encouraged by the information you provided.... thanks

emmanuelewumi:
Google Gbenga Oyebode, he is a commercial/corporate lawyer and also a billionaire in naira. He built his wealth by investing his money in the last 35 years. He render his professional service to corporations like Nestle, Custodian and Allied Insurance, Okomu Oil, Access Bank, Coscharis group, Oando just to mention a few.

He has 100 million shares of MTN earning dividends of over N700 million

Over 60 million shares of Access Bank earning dividends of over N22 million

Over 35 million shares of Okomu Oil and Rubber. Earning dividend of N140 million, N70 million was paid early this year another was few weeks ago.

Smart people will prefer to own 1% of successful businesses, rather than owning 100% of a struggling business.

He made over N140 million from Okomu, an Agricultural company. He doesn't have to reinvent the wheel by starting all over trying to own his own farm.


There are many successful professionals like doctors, Architects, Media professionals, Accountants, Corporate executives, Engineers, Estate surveyors etc who are more comfortable consistently investing their money rather than starting a business.

Oga Emma, this is a challenge to us

If you have an account where money comes in regularly in form dividends, interests from money market funds, Treasury Bills etc. Your loved ones will be denied immediate access to the fund. Until they get Letter of Administration from the court which takes a long time and also cumbersome
@ Oga Emma
I think a smart way is to make one's wife for instance, a signatory to the accounts if you trust her....I guess this will take care of the need for letter of administration

akinola98:
Yes, I did
They sent an email to cscs for more explanation but what is keeping me down is that they mentioned that sometimes the coupon payment comes in 1 or 2 days late
Could that be true ?? This is my first FGN bond so no experience

It is not true. My 2036 fgn bond was due yesterday, and my account was credited same day. I bought through stanbic

TotoNaRubber:
Bros I hail o, you are running fgn bonds from savings or current account. I don't think they sold you fgn bonds.

You can call stanbic to confirm if it's possible. What I said is that my account was debited for the transaction and 'Confirmation of Bond Trade' sent to me. Meanwhile I have received the payment for the first 6 month

And what is the minimum for this?

The minimum I have done is 4m