ADIVCE NEEDED
Dear BVs,
My rent was increased by 75% recently and I am not thinking about rent to own or mortgage plans. I live in Garki Abuja presently and would love people who have passed this road to guide me. I can't tell you the amount of pressure I've been under.
Also, my investment was in real estate but was demolished in sabo Lugbe by the present minister. Please I'll be checking for what you have to say to me.
My rent was increased by 75% recently and I am not thinking about rent to own or mortgage plans. I live in Garki Abuja presently and would love people who have passed this road to guide me. I can't tell you the amount of pressure I've been under.
Also, my investment was in real estate but was demolished in sabo Lugbe by the present minister. Please I'll be checking for what you have to say to me.
Rent increased by 75percent? that is pure wickedness!!!!
let me step back and let the others step forward and give you advice
I ll advice you move out if you can't afford the new rent. I was struggling with paying yearly rent for my mum in abj and was determined to get a property.
ReplyDeleteEventually I found a cheap one in Kuje, started building and moved her in when most of the building was 95% complete 1yr after.
I took loan overdraft etc just to do that. They moved in before nepa even came to fix the lights.
She didn't want to because she felt the neighborhood was a downgrade but I explained she will either move in or call my siblings to pay the rent where she is staying and I look for tenants in this new build.
In the end, I am grateful I did that project when I did because omo, abuja rent no be am at all. To rent a 3bed in The same location today you ll need 1.2m for rent alone.
My advice, downsize and look for an uncompleted but approved structure to buy and complete to ur budget within any of the satellite towns.
May God help you, help us all and lighten the burdens in our hearts. Amen
Mine was increased to 100%. The property was sold so the new owner increased after renovation.
ReplyDeleteMy advice is that you negotiate. If you can afford, you pay. If you cannot afford it, please get a lawyer that will give an extension to move out
As long as your placenta is not tied to that area, move to a more affordable place. It's simple. I don't even think this deserves to be a chronicle.
ReplyDeletePoster,you have to move out ni oooo. If you want to take it to court,it will take time and many bad things can happen to you,so move out amicably.
ReplyDeleteMine was increased by 100% in Lagos suburban. As we were trying to negotiate for installment payment, the landlord decided to renovate his house and served all the tenants quit notice. Most of us have moved at a crazy cost! It hasn't been easy but I thank God for always showing up for me. Abba, please build for me in accordance to your word in Jesus name Amen 🙏
ReplyDeleteMine was increased by 100% in Lagos suburban. As we were trying to negotiate for installment payment, the landlord decided to renovate his house and served all the tenants quit notice. Most of us have moved at a crazy cost! It hasn't been easy but I thank God for always showing up for me. Abba, please build for me in accordance to your word in Jesus name Amen 🙏
ReplyDeleteMine was increased to 150%
ReplyDeleteAbuja landlords are not smiling.
I had to move out. I stay in Gwarinpa
Hmm I remember during lockdown, my rent was increased for over 50%. I thought these things happen only in Accra. People can be wicked err.
ReplyDeleteJust get cheaper accommodations..
ReplyDeleteA lot of laws need to change in Nigeria. This is absolutely ridiculous and illegal. In sane countries there’s a legal limit you can increase rent every year and anything after that is illegal and suspect to a lawsuit but it is Nigeria
ReplyDeleteYes, there are rent laws that fix rate increases. 100% is mind boggling. Most ppl do not get 100% pay increase, some haven't seen a pay raise in years and those who get one its simply a 3-6% increase. I am not sure why anyone would increase rent by 100% or more.
DeleteThe U.S for one generally has no limit on how much a private owner can increase rent
DeleteU r talking in terms of countries that give some kind of subsidies/ cushions in the form of low interest rate mortgage loans for people to develop real estate and deliver affordable and modern housing to the populace. Not in nigeria, have u ever tried to access mortgage loan from the Federal mortgage bank of Nigeria? I have tried, because i am a federal public officer, guess what? Almost 10 yrs now, u kno naija naa, i dnt have to go into details, but the long n short of the story is that i didn’t have access to that loan.
DeleteSo pls tell me, if tomorrow i source for funds, the way and manner and build a house and lease it out, which govt has the impetus to tell me how much i charge as rent? Abeg u ma reason am.
Move to a cheaper place God will see you through
ReplyDeleteIts a season of rent increments for Nigerian landlords. Mine was about 100%. Three of my colleagues were increased by 300% in Lagos. It's pure wickedness. And to get another descent accommodation na wahala
ReplyDeleteCan you get a reliable roommate to share the cost? You’ll collect the half in advance oh
ReplyDeleteNot Nice oooo, for this Hard Economy
ReplyDeleteAbeg Nne look for a cheaper Place oo..
Hello iya Boys
My dear Sister it's everywhere ooo. Reasoning the thing can turn someone's eyes. Mine was increased by 50%. When I saw the message I didn't know if I should cry or laugh in this kind of economy.
ReplyDeleteWhat to do is to look for a cheaper place that can fit your budget. E hugs dear. 🤗🤗🤗🤗
I won't even blame the landlord, they built the house as investments and business.. they have to survive, things have become so expensive.. has fuel not increased with over 500 percent,. What of food and everything other things people need to survive..
ReplyDeleteHonestly, the landlord is even very nice compared to the government
Help your people oh lord
ReplyDeleteDear poster, I will advice you move out to a cheaper place
ReplyDeleteMany landlords, merchants and business ppl are going to wonder why they ended up in hell. Does God care about your market conditions, rates, the times, or inflation? NO. All this usury that is being practiced by one and all in all kind of forms has its reward.
ReplyDeleteMake landlord no chop abi? Maybe it’s you people’s spit that landlord will use to buy stuff in the market. Standard of living has dropped by more than 300%, yet 75% increase in rent is making you people speak English. What will happen to tinubu and his cohorts who put us in this quagmire?
Delete