Agreement And Commission In Lagos
Fashion designer Folayemi Alade, who earns $2,700 a year, has to pay about $US 2,000 for an entire year`s rent and commission before moving in. (Credit: Ayodele Johnson) Unfortunately, even if the landlord establishes a rental agreement, most tenants simply sign the documents without properly verifying them. Ideally, this agreement should be reviewed by a legal expert. As a tenant, you have the right to require your landlord to have a written rental agreement. A tenancy agreement is an important document because it basically describes the terms of your lease in the property, in fact it could be argued that it is the most important right of any tenant. Owners may refuse to grant a lease, but if your landlord doesn`t give you a lease, you should be very careful. In leases of more than 3 years, it is imperative that the agreement be concluded in writing. I rented a con room myself on the ajeo property in Lagos for 250, paid brokers and precautionary fees,50k each made a total of 150 and it brought the rent to a total of 400k, I was as shocked as hell, because in Portharcourt I stay in my family home and our principles pay nothing outside the rent. 2-bed room for the same 250 I pay for auto con without kitchen. I really think the Lagos state government should look into this case is very frustrating. An agent earns his fees through a commission, but it is a free trade negotiation. It is not written anywhere in Nigeria`s Constitution or any law that should be agency fees.
The broker should also prove that the owner authorized him to sell or rent the house. Before hiring it for the first lease negotiate, is a negotiable tax, not fixed. The bank pays 0.5% to the agent. But Alade had to pay dearly to secure her house: she paid an annual rent in advance before moving in. “I was told that I had to pay the rent for the whole year and two years [contract] and commissions. I paid about $2,000 [including] safety [and] water treatment,” she says. Don`t believe it any other way. In Lagos, a new tenant is expected to pay rent plus contract fees, commission and other fees that vary from landlord to landlord.