What You Need to Know About Renting in Nigeria 

Renting a House in Nigeria

Being fully equipped with the right information is one of the first things you need to sort out before heading out to rent an apartment or office space in Nigeria. This would help you know what to look out for and guide you towards taking the right decision. 

In this article, we would be sharing important details you need to know about renting, whether for commercial or residential purposes in Nigeria. 

Read more on What You Need To Know About Renting or Buying a House in Nigeria 

Renting a House in Nigeria

Things to Look Out for When Renting a House

There are certain things to look out for when renting a house in Nigeria. This is to avoid unnecessary conflict later with the property owner if you probably do not get what you bargained for. 

Location 

This should be of concern to you when renting a house. Your personal preferences would determine the location that will be best for you. If you do not like noise, you should not rent an apartment in a noisy or busy area as this would only get you more frustrated. 

Some areas experience flooding during the rainy season, so ask other residents questions to find out if the area is prone to flooding. You should look out for accessibility, availability of major centres around such as school, proximity to your workplace and so on. The level of security is also very important when renting a house. 

Space

You also need to know how much space you need in your apartment so you know what to look out for when going for an inspection. Most of the time, apartments with bigger spaces cost more. This is also where you decide what kind of apartment you want, whether it is a self con, mini-flat, two or three bedroom apartment. 

Budget

You do not want to rent an apartment that would be difficult to renew in subsequent times. Ensure you have your budget for rent clearly stated so you do not go beyond it. Also take into consideration the funds that would be used when renting for the first time such as agency fee and any other payment that has to made as a new tenant in the building. 

Physical Condition

Some houses have hidden physical features that need repairs. This is why it is important to go for an inspection so you can detect any part of the house that needs repairs. It will also help you confirm if the amenities in the home are functioning well. 

Tenancy Agreement

You should carefully read through what the document stipulates so you do not sign what you would regret later. A tenancy agreement contains the terms and conditions of living in the apartment so you need to be sure you are okay with the contents of the document.

Read more on What Landlords and Tenants Need to Know About Tenancy Agreement in Nigeria

What You Should Know About Renting a House in Nigeria

Things to Look Out for When Renting an Office Space

The choice of an office space would impact greatly on your staff and the different work processes involved in your business. It also has a part to play in branding and the kind of perception your clients and target audience have of the organization. Choosing an office space must be done with utmost care and diligence. Some factors to consider when selecting an office space include;

Cost

Whether your business is a startup or a company that has been functioning for years, it is important to have and to stick to the budget allocated to renting an office space. You do not want to rent an office space at the expense of other important necessities that are critical to the running of the business. 

Your office space does not have to be extravagant or larger than what you actually need. You just have to make sure it suits your preferences and falls within your budget. 

Location

Location is also important when renting an office space. The kind of business you operate would determine what location would be suitable for your office space. 

However, it should be located in an area that is secure and conducive for your clients to visit. You should also be particular about the image your company would portray if deciding to settle in a certain location. 

Your office should be located in an area that is easily accessible. In an age, where there is stiff competition in almost every industry, you do not want to lose your customers to being in a location that is hard to access.

Facilities

You need to be sure the building in which you are renting your office has good facilities that would serve the needs of you, your staff and customers. Special features such as a strong internet connection, good toilet facilities and so on. 

You should also look out for whether there are adequate parking spaces for everyone associated with your business. 

See also Security Tips in Real Estate

Renting a House in Nigeria

Whether it’s an apartment or an office space you want to rent, you should go to see the apartment or office and environment physically before making your final decision. This would afford you the chance to meet the landlord and be sure you’re making payment to the right person. 

You can take the bold step to become a homeowner by investing in any of our well designed and strategically positioned properties. You can contact us here to order an inspection. 

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