If Managed very well is a very good one. BRF is out 4 real Business

Mr Fashola, I disagree with you here. I am a landlord and I know how it took me my life savings to build my house and now you want me to collect monthly rent? Since you are the minister of housing whey don't you build low cost houses and give them free to all Nigerians.

You should tell companies to increase their housing allowances to staff and pay them upfront.

Old boy no take your reggae come spoil my blues o.

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mekaboy:
Nonsense.

Well said!

doncaster:
In western world salary are paid monthly as at when due. What will a tenant tell the landlord when he is owned 10 months salary. If you are a landlord/lady will you allow your tenant(Govt worker owned 10 months salary) to stay put on such ground? Be sincere.

One is ok for me thou.

Thank you!.

true!! that omo onile nonsense is crazy.

mekaboy:


In western world you can be a landlord on Morgage, rent the house and pay your mortgage till the house is yours. It does not happen in Nigeria.

There is no omonile in western world.

Amaechi made a law against 2 years house rent in Rivers State yet some sick Landlords charge 2 years, then 10% Agent fee, 5% Legal fee, among other charges.

macklef:

Well, there are diffrent angles to see a matter from. The fact i didnt see it from this angle does not make one ignorant.
Your arguement is spot on by the way. In as much as i dont like the 2yr down payment, i dont also think the monthly thingy is fair on on landlords with the current situation of d economy
But as u know, we are not d one that makes this policys we can only argue about them.
But what i would have prefared is at lest a 6months-1yr down payment. And ur rent must be renewd 2months before expiration of the rent so in such case if a tenant defaults he would use out of the months he has paid for on court case if he wishes and at the end of the court duration the house owner dosnt have to loose rent.
This is how fair on my opinion could help both parties.

My sincere apologies. No harm intended.

stupid statement by Fashola. Where in the world does anyone pay rent in arrears, even when you pay monthly, you pay in advance. On the issue of 2 years in advance, you cannot legislate away market forces, what will happen is the rise of an underground system.


The real problem is this interest payments on real estate is more than rental income. If as a landlord you buy a flat in Lekki axis for instance, you will pay on average N35M, the most you can get in rent in N2.5m about 7% return. If you borrowed money to buy the flat you will be charged double digit interest which means you are actually running a loss and subsidizing your tennant. So it's no surprise landlords want to recoup as much as they can as quickly ass possible.


Focus on fixing high interest rates, high cost of c of O, government beauracracy, cost of building materials Mr Fashola and maybe you'll fix the rental problem. Alternatively if you build more affordable houses, then market forces will do the rest. But if you legislate that lanlords cannot collect rent as they deem fit then one of 2 things or both will happen, people will stop building homes to rent out or Landlords will still collect their 2 years but find a loophole, they may disguise 1 years rent as "security deposit" against damage!!

GreatSE:
Pls Fash come to Portharcourt..... But the truth is that its some tenant that actually want this..... those Shell and Total workers prefer paying for 3 yrs even.

that's because they are oil workers

macklef:

+ @mekaboy

Your arguements lack depth. Even if i havnt built a house yet, my parents have before my eyes
I know how stressful n expensive it can be to errect a building.
Now, if one decided to rent the house out, does it mean u must strangle people
With house rent?
A building is a fixed asset that can land for nothing less than a decade. It is a continious
Source of income not an initial profit maximization
A landlord must know that he would make his gains overtime not on one time so as such he should be flexible with his rent collection n not make d lowly ones suffer

The problem is that Nigeria is so unstable that everyone wants to protect themselves from the unknown.

1, assuming I want to collect 250,000 ($1000) for 1 room self con. If I collect one year, 250k is 1000 dollars. Next year, 250k might be 500 dollars. The money has lost value by the minute.

2, let's say a tenant pays for one year, after the first year he starts telling you story for 3 months, you get tired and give them quit notice. You give them additional 6 months to move. They have lived in your house for 9 months without pay. Now its not their fault sometimes, it's the govt that is telling u how to collect rent that is owing them.

The landlords are not the problem the govt is. If for example I want to build a house that cost 10m but I have 5m. The government gives me 5m loan for 10yrs at 3%. There it will be easy for anyone to become a landlord.

There will be more houses. Then there will be competition in pricing. It is now landlords that will be begging tenants to come and take the houses on their own terms.

But when you leave the landlord to bear all the burden alone, you have no right to dictate to them.

Whenever the govt wants to do something they tell you how it is done in western countries. But when it's time for govt to live up to their responsibilities, they tell you we are a developing nation.

Price of dollar and building materials are stable in developed countries. Landlords can plan over a long period because the currency is stable.

Govt supports the citizens, both landlord and tenants.

In Nigeria, you are on your own. You pay for light, you buy fuel for gen, you buy fuel for car. You raise your own capital for biz, you buy land, build. Then govt comes to tell you how to charge.

Let the govt fix financial policies, housing will address itself.

EbolaParasite:


My sincere apologies. No harm intended .

With the moniker u carry, i cant be too sure of that.

mekaboy:


The problem is that Nigeria is so unstable that everyone wants to protect themselves from the unknown.

1, assuming I want to collect 250,000 ($1000) for 1 room self con. If I collect one year, 250k is 1000 dollars. Next year, 250k might be 500 dollars. The money has lost value by the minute.

2, let's say a tenant pays for one year, after the first year he starts telling you story for 3 months, you get tired and give them quit notice. You give them additional 6 months to move. They have lived in your house for 9 months without pay. Now its not their fault sometimes, it's the govt that is telling u how to collect rent that is owing them.

The landlords are not the problem the govt is. If for example I want to build a house that cost 10m but I have 5m. The government gives me 5m loan for 10yrs at 3%. There it will be easy for anyone to become a landlord.

There will be more houses. Then there will be competition in pricing. It is now landlords that will be begging tenants to come and take the houses on their own terms.

But when you leave the landlord to bear all the burden alone, you have no right to dictate to them.

Whenever the govt wants to do something they tell you how it is done in western countries. But when it's time for govt to live up to their responsibilities, they tell you we are a developing nation.

Price of dollar and building materials are stable in developed countries. Landlords can plan over a long period because the currency is stable.

Govt supports the citizens, both landlord and tenants.

In Nigeria, you are on your own. You pay for light, you buy fuel for gen, you buy fuel for car. You raise your own capital for biz, you buy land, build. Then govt comes to tell you how to charge.

Let the govt fix financial policies, housing will address itself.

I cant agree less my brother. He who wears the shoe is only d one that can tell where it hurts
Maybe because im not a landlord thats y im only one sided looking at where it hurts me cos bro, e no easy with accomodation o, my rent go expire this febuary and landlord don increase rent already from 180 to 250k. Bros which way na.

.....maybe rents at a 3 months intervals sha, my thought nii oooo.

byteem:



sSERIOUSLY I HATE TO HEAR THAT FASHOLA TRIED IN LAGOS .. WHAT DID HE DO.. JAKANDE BUILT ALL THE HOUSING ESTATES AND MADE THEM AVAILABLE TO THE MASSES FROM FESTAC TO AJAH TO AGEGE TO IDIMU AND ALL ACROSS LAGOS.. JAKANDE BUILT BRIDGES .. THE SO CALLED LEKKI EXPRESS WAY WAS BUILT BY HIM .. EPE BRIDGE CARTER BRIDGE .. JUST TO MENTION A FEW..ALL IN FOUR YEARS ..WITH LIMITED FUNDS

WHAT DID FASHOLA DO.. IN EIGHT YEARS HOW DID HE POSITIVELY EFFECT THE LIFE OF COMMON LAGOSIANS.. WITH ALL THE FUNDS AT HIS DISPOSAL ..IF YOU STAND AT AJAH YOU SEE IKORODU.. WAS ANYTHING WRONG IN BUILDING A BRIDGE THERE AND OPENING ALL THAT AXIS AND CREATING WEALTH FOR LAGOSIANS .. HOW MANY BRIDGES DID HE BUILD .. HOW MANY ROADS DID HE COMMENCE AND FINISH...HOW MANY LIVES DID HE TOUCH ....APART FROM MAIKING HIS ALREADY WEALTHY COHORTS EVEN RICHER.. AND BUILD HOUSES THAT WE HAVE TO GAMBLE FOR ..

FASHOLA DID NOTHING..

BUT ALAS IN THE LAND OF THE BLIND THE ONE EYED MAN IS KING..

SO NOW HE OPENS HIS DIRTY MOUTH AND WANTS TO EXTEND HIS FRUSTRATIONS TO THE NATIONAL LEVEL.. HOW MANY LANDLORDS DID HE CREATE.. WHAT DOES HE KNOW ABOUT BUILDING A HOUSE AND PAYING RENT . WHEN WAS THE LAST TIME HE PAID RENT..RUBBISH...

I soo get your point !

Montaque:
He should ban omonile, everywhere in naija.
these thugs are in every part of the country.

they are not in jos... this I am sure of... in fact they are not in the north...

Nice move mr minister

The money ur corrupt leaders are investing in US, Canada , UK
Are they not your leaders as well?


There should be a better way to protect landlord and tenants
What about a landlord protection agency, could be one for the whole country, or one per state. The agency is charge of drafting
lease addendum
rental binder agreement
basic rental agreement

they will create the baseline for all those documents which tenants agree to and are enforceable by law

There could also be a tenant and fairhousing act(might already exist, i dont know), if done well, it will protect rights of all tenants regardless of state



Tenants should have 10 days to pay up and get evicted

Wrong approach here, give them a window in which after expiry, a late fee applies in addition to the regular bill, after another window, go through the court system for eviction, if it gets to this point and tenant does not want to go to court, tenant will have to pay the regular bills + late fees + court costs + legal fees.

For example, rent is due 1st of the month
late charge applies on the 6th day of the month
16th day of month - eviction court notice, with trial set for future date

This gives everyone wiggle room because you dont know what can happen tomorrow and people will not say they were not informed

I agree with him. People should have the option for a monthly or yearly payment plan. And like he said, if u break the contract , you get evicted. I think it's a fair practice but there have to be strict laws to guide and enforce this new plan

INDUSTRIALFAN:
they are not in jos... this I am sure of... in fact they are not in the north...

What is the essence of the money u give to the "mengwa" in all the northern states?
Are they the land owners or the governor u pay land rates to?

Montaque:

What is the essence of the money u give to the "mengwa" in all the northern states?
Are they the land owners or the governor u pay land rates to?

lol.... It's mai Angwa( owner of the area) but even at that, I haven't heard of anyone paying money to them to build though... maybe it happens in some places but not heard of it in Jos. besides, the one in Lagos and Benin is too much... imagine the government going to the street where my sister has a mini super store to fix the bad road and the retarded area people were asking to be paid first.... trust the ministry of works guys.... the road is still as it is while other neighbouring streets have been fixed with interlocking tiles..... Bros..... na curse?

INDUSTRIALFAN:
lol.... It's mai Angwa( owner of the area) but even at that, I haven't heard of anyone paying money to them to build though... maybe it happens in some places but not heard of it in Jos. besides, the one in Lagos and Benin is too much... imagine the government going to the street where my sister has a mini super store to fix the bad road and the retarded area people were asking to be paid first.... trust the ministry of works guys.... the road is still as it is while other neighbouring streets have been fixed with interlocking tiles..... Bros..... na curse?

the money paid to those mengwa and his boys when anybody wants to buy a land is against the spirit of our land use act. it's part of the problem. Just to buy a land less than a plot in a state in the north weSt requires the buyer to settle the man to the tune of 100k and the ones paid to his boys before he can sign the deed.
The bottom line should be no payment to any third party from the point of purchase up.

Montaque:


the money paid to those mengwa and his boys when anybody wants to buy a land is against the spirit of our land use act. it's part of the problem. Just to buy a land less than a plot in a state in the north weSt requires the buyer to settle the man to the tune of 100k and the ones paid to his boys before he can sign the deed.
The bottom line should be no payment to any third party from the point of purchase up.

That's just Nigerians being wicked and inconsiderate to fellow Nigerians.... Though I still haven't heard of people in His paying money to mai angwa sha... even when my dad sold off one of his properties in jos. they just bought the property and next thing, they where demolishing and rebuilding.

INDUSTRIALFAN:
That's just Nigerians being wicked and inconsiderate to fellow Nigerians.... Though I still haven't heard of people in His paying money to mai angwa sha... even when my dad sold off one of his properties in jos. they just bought the property and next thing, they where demolishing and rebuilding.

if you can site the agreement though which the house was sold, and u see a space signed by the village leader, know that extra money was paid for that signature.

Montaque:

if you can site the agreement though which the house was sold, and u see a space signed by the village leader, know that extra money was paid for that signature.

hmm.... maybe..... after all, In Nigeria, kola is always presented to elders before any form of business proceeds.... I guess you are right...

INDUSTRIALFAN:
hmm.... maybe..... after all, In Nigeria, kola is always presented to elders before any form of business proceeds.... I guess you are right...

kola? In the east, the landlords collect 'kola money' before negotiating with a prospective tenant.
That's aside the rent, agent fee, agreement/ssolicitors fee, etc.
The problem is just too many.

mekaboy:
Nonsense. has the govt ever helped the landlords in any way?

They buy land u collect tax, omonile collect their own. They have to fix the roads by themselves. Buy cement and pay for labour complete.

when they finish everything without any support from govt, then you come out to tell them how to collect rent.

Where were u when they were sourcing for funds? Did u provide any installment plans for purchase of building materials.

Fashola, I know you tried in lagos, even though u used just 30% of funds available to lagos state.

Now u act like u have pity for the poor. Which of the building projects you put up for the masses in lagos can the poor afford?

How much does a flat go for? Now your talking of house rent.

You forget that the landlord will pay the 40% increase u intend to add to electricity? You forget the landlord has to buy fuel after u remove subsidy?

Or you don't know the landlord has to buy dollars at 260 to import items to sell?

You have compassion for the poor, yet you re brand website with 78m.

Do you know that you would have empowered over 150 enteprenurs with 500k from that 78m. Instead you approved 78m for a website that has no value to the people.

Abeg make we hear word.

God bless u my brother. Nigeria will only become better when our leaders have genuine interest for us.

Montaque:


kola? In the east, the landlords collect 'kola money' before negotiating with a prospective tenant.
That's aside the rent, agent fee, agreement/ssolicitors fee, etc.
The problem is just too many.

hahahaha..... Those eastern guys got no chill men.... are you sure before someone dies in the east, he doesn't pay first? lol....

INDUSTRIALFAN:
hahahaha..... Those eastern guys got no chill men.... are you sure before someone dies in the east, he doesn't pay first? lol....

they are doing that Cos government hasn't set a benchmark on these things.
I wait for a savior in BRF. people don suffer in the hands of these capitalists

Millerz:
he's very correct. Its only in Nigeria and some other primitive African countries this happens in.

In the western world, house rent is paid monthly. On no account will your house owner ask for more.

You are right to an extent.... If you wish to pay for 5months in advance.... It's totally your choice.

He is totally not correct because in the western world there enough government housing programs and mortgage for that matter

Montaque:

they are doing that Cos government hasn't set a benchmark on these things.
I wait for a savior in BRF. people don suffer in the hands of these capitalists

Well, if the govt won't do anything bout it, there's nothing we the masses can do.