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Tag Archives: tenants

Confusion between Landlords and tenants over tenement rates payment

demolition

There seems to be confusion among residents of Warri following the introduction of “Residential Tenement Rates ” by the Warri South Local Government Council led by Hon. Michael Tidi. Tidi explained in a chat that there is “Commercial” and “Residential Tenement Rates” in places like Lagos State but he insisted that the payment is not for the tenants but for ...

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Court sentences developer to 2,670years imprisonment for defrauding 133 tenants

developer

An Ebute-Meta Chief Magistrates’ Court, Lagos, has sentenced a property developer, Alhaji Ayobami Oseni, to 2,670 years imprisonment for duping 133 accommodation seekers of N25 million. Chief Magistrate O. O. Olatunji convicted Oseni following his plea of guilty to 267 counts of conspiracy, obtaining under false pretenses and stealing. He sentenced Oseni to 10 years imprisonment with no option of ...

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Are Tenants Now Haunting Landlords?

Tenants

There was a time when the word landlord sent chills down the spines of erring tenants; the days of old when an eviction notice was like a death penalty.  Albeit what is obtainable these days is that tenants now believe they have equal footing with their landlords, they can even go on to call their bluffs and possibly commit arson. ...

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Five Basic Tips For Investing In Real Estate

Investing in real estate

If you’re just beginning to invest in real estate, you’ll find that there’s a lot to learn. In this article, we share five basic tips for investing in real estate. Real estate investing is more complicated than investing in stocks because of the financial, legal, and extensive due diligence requirements involved. That’s why it’s a good idea to give yourself ...

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What You Should Know Before Renting Your Property Out

renting your property

Owning a rental property in Nigeria sounds like a great idea, doesn’t it? You buy a property in a nice area, find tenants and let the cash flow. However, there are some matters you have to consider before owning a rental property. Below are a few pros and cons of owning a rental property and a few tips to help ...

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The Effect of Recession on Property Management Practice in Nigeria

Recession

Property management is an act of inter-mediation between owners and occupiers on issues affecting the parties arising from ownership and occupation of buildings. It is a conscious process of guiding and tailoring an investment in land into profitable venture. Its main concern is the optimization of the owners’ investment. On the other hand, an economy is said to be recessed ...

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The Pros and Cons of Paying Rent on a Monthly Basis (Short-term Lease)

Rent-to-own

In Nigeria, the most common type of rental agreement in today’s rental market is a fixed-term lease that can have a duration of a year or more depending on what is agreed upon between the landlord and tenant. This article analyses the pros and cons of paying rent on a monthly basis (short-term lease). Earlier this month, Punch reported that Nigerians may ...

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