At this point, there should be a bill to address, tackle and handle the hike in tenancy payment, else Nigerians will one day hit the streets in protest.
How do you explain a self contain @ N550,000 to N750,000 in most areas in Port Harcourt City and one bedroom flat going for N1,350,000 and above.
I had an encounter with a landlord and queried him on the rent issue and was shocked with what he told me. He said to me, actually the high cost of rent didn't emanate from them but from the agents. I asked him how? He said, when a landlord keeps an apartment at 300,000, agents will rise it to 350,000 thousand to 400,000 thousand excluding the 10% agency fees. So I asked him who then collects the extra money added to the rent? He said the agent does.
How do they do this?
I had an encounter with a landlord and queried him on the rent issue and was shocked with what he told me. He said to me, actually the high cost of rent didn't emanate from them but from the agents. I asked him how? He said, when a landlord keeps an apartment at 300,000, agents will rise it to 350,000 thousand to 400,000 thousand excluding the 10% agency fees. So I asked him who then collects the extra money added to the rent? He said the agent does.
How do they do this?
A landlord put his house at the rate of 300,000 annually, maybe agreement and drinks is 20,000 making it N320,000. Agent fee which is 10% should be 30,000 summing it to 350,000 which is known as total package. An agent instead of telling a client the said 300,000 as rent, will lie to the client the rent is 350,000, adding extra 50,000 to it which he will secretly collect from the landlord afterward. It's an agreement reached with most landlords. The client still pays the usual 10% agency fees.
Isn't this the height of greed and wickedness?
During renewal, the landlord now sticks to the 350,000 against the 300,000 he initially kept it. Some agents went as far as adding up to 100,000 on rent to a house they didn't build. Yet you won't see them live well or even dress well. I will blame the landlords that agrees to this fraudulent arrangement. Their complicity makes them an accomplice.
Most times we blame the government and politicians but those that are been governed are even worse than you can ever imagine.
Nigeria indeed is such a weird place. A country that will always leave you in shock and disappointment.
Lawless country, God help us for this country sha🙏🙏
ReplyDeleteI stay in a house that was newly built. I've been here for 7 years. Till date, my landlord hasn't increased the rent. What I do, if anything spoils, I quietly fix with my money. I inform him just for the sake of it. He hardly comes around. In 7 years I think I've not seen him more than twice. I thank God for giving me such an understanding landlord. I suspect he might increase the rent this year sha but I don't mind.
ReplyDeleteNothing beats having your own property sha.
Your landlord is a rare gem, the best amongst the rest
DeleteWow! It's great that you have such a considerate landlord. You're certainly a commendable tenant too.
DeleteChannel the energy to your government to provide houses for the masses and make it affordable.
ReplyDeleteWhat a private man decides to do its none of our business.its an ostentatious commodity.There are people willing to pay.you can as well relocate or go to the houses you can afford.
You don't know the pain and sweats and savings they had to go through to build those houses.
Start holding government accountable they are they ones that owe you a lot because they are mandated to serve you and not a private man
You are among the wicked landlords we have.
DeleteThere is no masses cement, wood, sharp sand or land in urban areas.
DeleteEven in your village, illiterates are arranging their finances to leave property behind but a country that subsidised your birth, transport, healthcare, education, security, importation, electricity and much more should come and build houses for you again. Haba!!! Can you compare 1004 to Jakande estate today?
Agents of change
ReplyDeleteHouse hunting these days is a humbling experience. Between agents with questionable ethics and landlords charging prices that feel completely detached from reality, affordability has become a luxury. A civil servant can barely secure a decent, comfortable apartment anymore. When you ask why, the blame is casually shifted to ‘Yahoo boys’, but the real issue is unchecked greed and a broken housing system.
ReplyDeleteI saw a room self-contained in Ikorodu posted by an agent on tiktok two days ago, the house rent was 200k, while agreement and agent fee was 200k, making everything 400k, some people were complaining, calling him thief and cursing him, while some people were asking for his number for inspection.
ReplyDeleteWhen you see the houses they increase money on, you will weep. No renovation, old building as usual, still some of them will have the mind to double the initial price that was paid. Some humans are so wicked but keeps blaming the government.
ReplyDeleteWhen you see the houses they increase money on, you will weep. No renovation, old building as usual, still some of them will have the mind to double the initial price that was paid. Some humans are so wicked but keeps blaming the government.
ReplyDeleteThose house agents are demonic agents sent from the pit of hell to torment men. Yours is even good Teejay at 10 percents in Portharcourt. Ours over here is 20% agent fee, 20% lawyer fee and then 20-50k as caution fee. It is that bad and when you see those agents, they're will be looking so unkept, living in poor dirty houses but want to eat from another man's sweat.
ReplyDelete"Nigeria indeed is such a weird place. A country that will always leave you in shock and disappointment"
ReplyDeleteYet, you have been housed, educated, kept alive, profited and benefitted from the largesse of the same country. The people directly supplementing your income are products of the same nation.
Shock and disappointment you expect, same you will continue to experience with this mindset.