What’s the best neighborhood to live in? Where are the neighborhoods that have been appreciated? When’s the best time to rent a house? Renting a house in Lagos can be stressful with so many questions to ask and decisions to make, especially if you aren’t from Nigeria or moving into Lagos for the first time.
But with the right information, you can find yourself in your dream home. That’s why we’ve created this guide on how to rent a house in Lagos step by step, so you know exactly what steps to take and which neighborhoods will suit your needs best.
How To Rent A House In Lagos
We will be sharing a detailed step-by-step guide on how to rent a house in Lagos to avoid scams and also share some really cheap houses for rent in Lagos that you can jump into right away.
Below are the steps to rent a house in Lagos Nigeria.
1. Consider Your Budget Carefully
When you’re looking for a home, it’s critical that you consider your budget carefully. Prices in Lagos can vary wildly depending on where you live and what amenities you want to be included in your rental package.
Getting good advice from someone who knows local real estate is essential; don’t just go with any agent who comes along.
2. Work Out The Total Cost
It can be daunting to imagine how much it’s going to cost you to live in a new city. One of your biggest expenses is going to be rent, so try and get a feel for the average rental prices in that area before you arrive.
With that information in hand, you can start to estimate what you’ll need. Consider your own budget and decide how much rent you can afford each month.
You should also consider how long you plan on staying in your new city. If it’s temporary, like a short-term work assignment, then perhaps it doesn’t make sense to sign a long-term lease. What if your stay is indefinite? Do you want an apartment or a house?
3. Evaluate Security
There are several safety issues that you will want to consider as you start your search. As you begin looking at homes in Lagos, check to see if they have security fences and locks on doors.
Are windows and doors secure? Does it appear that other individuals live in or visit frequently? Once you find a place you’re interested in, ask if they offer leases and if so, read them carefully before signing anything.
4. Checkout Your Neighbourhood
Before you even begin your search, it’s important to get a feel for what neighborhoods might be best suited to your lifestyle.
If you have kids, do you want them close by? Are schools a big factor in your decision? Is there easy access to public transit? Is it important that you live close to work or are you okay with spending some time commuting each day?
5. Consider Fees and Commission
Not all agents work on commission. This can be a good thing, as they’re often less likely to push you into a home that doesn’t fit your needs.
But it can also be a bad thing since they might take longer to find you something and cost more in fees.
Either way, it’s worth knowing what a full-service agent charges and what her fee breaks down into (i.e., are there any initial application fees? Are there small monthly service fees?
6. Availability of Social Amenities
One of the biggest factors that can lead you to rent or buy a property is whether or not it has amenities. If there is a gym, pool, or clubhouse on-site, then you’re much more likely to rent or buy a home near these features.
The availability of these features and how much they cost can make all of the difference in deciding where you want to live. You may even be able to find places that offer free amenities like gyms if you look hard enough.
7. Meet The Landlord
Meeting with potential landlords is a great way to get a feel for their home and determine if it’s somewhere you’d like to live.
It can also help you make an informed decision about whether or not it’s a landlord you want to rent from.
For example, if they love being in your face 24/7, that might mean they show up unannounced whenever they please. If that’s okay with you, then maybe it is someone worth renting from.
8. Get Your Receipt and Documents
Before you move into your new home, gather all relevant paperwork and proof of ownership. Make sure you have copies of signed leases, title deeds, proof of purchase, and more.
It’s not just about keeping them in case something goes wrong it’s also a good idea to keep them as a reference if you want to make any changes or repairs around your house later on.
The last thing you want is to be accused of damaging property that isn’t yours.
How is house rent calculated in Nigeria?
So to find your monthly rent, think of it as 100 thousand Naira, which is 12 months of that rent divided by the total number of days in a year. To find your daily rent, think of it as 1 Naira per day. 2 million divided by 365 is around N3,287.67 per day.
When can the landlord increase rent in Lagos?
Lagos Tenancy Law prohibits the tenant from renting for more than a year. The landlord can’t ask for more than one year of rent from the tenant, nor can the tenant offer or pay more than one year’s rent.
What is the current tenancy law in Lagos State?
(1) It shall be unlawful for a landlord or his agent to demand or receive from a sitting tenant rent in excess of three months in respect of any premises.
(2) It shall be unlawful for a sitting tenant to offer or pay rent in excess of three months in respect of any premises.
As a growing city, Lagos’s housing situation is in constant flux. You can expect prices to increase year over year; you might even want to begin renting your dream home a few years before you plan on moving in.
With these tips and tricks under your belt, there’s no reason why you shouldn’t be able to find exactly what you need exactly when you need it. Happy Searching.