Landlords may prefer monthly rents because of the flexibility they offer. For example, landlords can quickly implement changes (for example.B. Rent increase or removal of amenities) to rent conditions. It is important to note that the landlord must properly inform the tenant before changing the rental conditions. In addition to the information provided by the owner, you must also provide information about tenants and residents on the land. The concept of lease is a widespread concept in Nigeria, it is reported that 85 percent of the Nigerian urban population lived in rental housing in 2010, a large percent of their income on rent. This proves that the lease is widespread in Nigeria and is still widespread. The purpose of this writing is to briefly discuss the concept, laws, clauses, rights related to leases with a particular focus on the State of Lagos. This document is used by a landlord and tenant for rental purposes only for residential purposes. It is only used if the term of the lease is less than 3 years.
For all of the aforementioned rights to make use of the tenant, the tenant must fulfill his or her own obligations by paying rents on the agreed date and mode. The tenant should also keep the premises in a good and laudable repair, although proper wear is acceptable. A rental agreement must be drafted by the landlord`s lawyer and duly controlled by a potential tenant before adding his signature. Use the Model for LawDepot`s Housing Leases to create a custom contract. Enter your information into the questionnaire, download, print, sign and execute your legally binding rental agreement. Section 13 of the Lagos State rental right sets the duration of the termination in the absence of an agreement between the landlord and the tenant; One month for a monthly lease; 3 months notice for a semi-annual lease and 6 months notice for an annual lease. “A tenant includes a subtenant or a person who is legally in possession or occupancy of premises, whether through the payment of rent or not.” The rent can be payable on a weekly, monthly or annual basis. Payment can be made in advance. It also includes the deposit, which serves as a sum of protection for an owner.
