Why Every Tenant Should Know the Tenancy Law in Their State

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Most tenants sign rental agreements without ever reading or knowing their state’s tenancy law. Unfortunately, this lack of awareness often leads to exploitation, unfair eviction, or payment disputes . In states like Lagos, Abuja, and Rivers, tenancy laws are in place to protect both tenants and landlords. 1. What Are Tenancy Laws? Tenancy laws are state-specific regulations that outline: Rights and obligations of tenants and landlords Processes for rent review and eviction Guidelines for property maintenance and dispute resolution Example: The Lagos Tenancy Law 2011 forbids landlords from demanding more than one year’s rent in advance from new tenants in certain property categories. 2. Why It Matters for Tenants Protection Against Exploitation: Helps you know if charges or requests from a landlord are legal. Eviction Protection: Understand legal eviction processes, so you are not illegally locked out. Fair Rent Reviews: Know your rights when landlords attem...
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How to Set the Right Rent Price Without Losing Tenants

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Learn how to set the right rent price that keeps tenants happy while ensuring profitability. Practical tips and strategies for landlords in Nigeria.

One of the biggest challenges landlords face is deciding how much rent to charge. Set it too high, and you risk losing tenants. Set it too low, and you may struggle to cover property expenses. The right rent price strikes a balance—fair for tenants while profitable for landlords. Here’s how to get it right.


1. Research the Local Rental Market

  • Compare similar properties in your neighborhood.
  • Check online rental platforms for current trends.
  • Consider property type, location, and amenities.

2. Factor in Property Features & Value Additions

  • Extra amenities like security, solar power, or water can justify a slightly higher rent.
  • Newly renovated homes often attract better-paying tenants.

3. Consider Tenant Affordability

  • Keep your target tenants’ income levels in mind.
  • A rent that is 25–30% of a tenant’s income is generally considered affordable.

4. Adjust Strategically for Inflation & Expenses

  • Instead of sudden rent spikes, use gradual increases annually.
  • Communicate clearly why adjustments are necessary.

5. Offer Flexible Payment Options

  • Monthly or quarterly rent payment options attract more tenants.
  • Digital payment systems make rent collection easier and build trust.

Conclusion

Setting the right rent price isn’t about charging the maximum possible, it’s about finding a sweet spot that keeps tenants satisfied and reduces vacancy rates while covering your costs.


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