Nigerian Government Introduce New House Rent Payment Method, Amount
The Lagos State government recently announced its monthly house rent proposal which, it said, would be charged according to tenants’ earnings and would be enforced before the end of 2024 or early next year. KINGSLEY ALUMONA, YUSUF ABDULKADIR, and AYOMIPO AKANO sampled the opinions of some Nigerians on this matter. Their views:
Janet Adeyanju
The Lagos State proposed monthly house rent payment is a welcome idea and should be adopted by other states. Interestingly, it has been in operation in some places outside Lagos before now. Many one-room apartments in some parts of Ibadan and Oyo Town have been going for a monthly or three to six-month rent payment. Paying rent monthly has its pros and cons, but it would benefit tenants. Some tenants would not be indebted as they could pay their rent in bits. In addition, if the tenants should encounter an unwelcome situation in a house, there would be no need to wait for a long period before checking out to look for another better option.
Habeeb Oladipupo
Abuja and Port Harcourt which share almost the same status as Lagos and have high rents, may adopt it. But other states should not consider it. Rent in other states is quite affordable — affordable enough that an average citizen could pay for two years if they want. Aside from the unnecessary stress, paying rent monthly may lead to issues between the owner or manager of a house and the tenants, where some tenants would skip some months intentionally due to oversight or unintentionally due to temporary financial problems.
Alozi Alozie
The government should rather control high rents by reducing the cost of building materials. If they regulate the prices of building materials, they could as well regulate the high cost of rent. From a realistic point of view, some people build houses strictly for business purposes. You cannot spend millions in buying land, building a two-storey building and collecting your rent monthly. That means in the next 20 years, you cannot do anything tangible from the proceeds. Yearly payment is better for both the landlord and the tenants.
Kunle Oyelekan
The Lagos State housing scheme has done well, considering the way landlords are increasing house rents. It is a great relief for tenants because paying annually involves a lot of money and is a burden on tenants. I would not like the scheme to be adopted by other states. The economy of Lagos is not the same as other states. Making money in Lagos is easier. On the other hand, in some other states, there are fewer companies except for farming and minor businesses, and it would take weeks and months
before they could gather a substantial amount of money for rent. The scheme should not be adopted by other states.
Rabihat Rabiu
The Lagos proposal of monthly house rent payment should be adopted by other states. The high cost of rent in many states in Nigeria is a significant challenge for residents, particularly for those with limited income. A monthly payment system would make it easier for many people to budget and plan their housing expenses, leading to greater financial stability. It could also help to stimulate the economy by freeing up more disposable income that could be used for other investments or savings. Overall, adopting this proposal in other states would be a positive step in improving the standard of living for many Nigerians.
Alamu Azeez
From my experience in the slum parts of Lagos, I am aware that most people are not paying their rent monthly. For me, the annual payment is the most ideal. On average, single rooms, the very poor ones, now go for N5000 in some slums in Lagos. Still, some could not afford it. I once managed a school − the fee for nursery pupils was N2500 per term, yet some parents could not afford it. How then do we expect these poor Nigerians to pay rent monthly? The problem is not annual/monthly payments — the problem is they do not have the money.
Ademola Ishola
Rent per month in Lagos may not entirely be a good idea. The adoption of this policy in other states should be subject to thorough research of the real estate market where best practices may depend on the ratio of income to rent value. This might prompt an increase in rent across board as landlords may begin to desire higher monthly rent — that is, N300,000 per annum rents may increase to N60,000 per month.
Folarin Sanusi
Monthly house rent in other states is not a good option. The Nigerian economy is in shambles. Therefore, getting people to pay rent at the end of a month is not visible because most people would rather invest and save to pay their rent. So, a household ideally saves money, little by little, and expects to get money from an investment by the end of the year. Also, in reality, most people’s expenditure is more than their revenue. Hence, it is difficult to advise people to pay monthly. Monthly payment sounds like a bad idea.
