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Nairaland Forum / Nairaland / General / Properties / Long Term Lease Of Buildings: Who Knows? (758 Views)
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Long Term Lease Of Buildings: Who Knows? by Acrobatics01: 9:21pm On Sep 23, 2021 |
Hi All Please let me pick your brains on this matter. In lagos here, I heard of an arrangement where developers would pool funds from different investors and raise a building, then lease the different apartments to the different investors who paid initially for a tenure of 15-20 years depending on the agreement with the landowner. At the end of the tenure, the building will belong to the land owner and all the tenants will find their way. Please let me know if you have done this or know about it. I'm considering it but it's like I can only see the rewards at the moment. what about the risks? |
Re: Long Term Lease Of Buildings: Who Knows? by freshpzy1(m): 9:24pm On Sep 23, 2021 |
Very good thread I want to know Abt it too 1 Like |
Re: Long Term Lease Of Buildings: Who Knows? by clarocuzioo(m): 4:25am On Sep 24, 2021 |
it's a very common practice here in Lagos. I have been involved in one or two. The location of the land is of utmost importance. it's called, Build, operate and transfer. |
Re: Long Term Lease Of Buildings: Who Knows? by Acrobatics01: 7:13am On Sep 24, 2021 |
clarocuzioo: Thanks man! Any risks to consider? |
Re: Long Term Lease Of Buildings: Who Knows? by clarocuzioo(m): 8:13am On Sep 24, 2021 |
Acrobatics01: Just be smart in your negotiations and let your agreements be dully documented by a lawyer. |
Re: Long Term Lease Of Buildings: Who Knows? by Acrobatics01: 9:55am On Sep 24, 2021 |
clarocuzioo: Thanks again. I heard them quote 4m and 4.5m for a miniflat around yaba. Does is sound good? |
Re: Long Term Lease Of Buildings: Who Knows? by clarocuzioo(m): 12:26pm On Sep 24, 2021 |
Acrobatics01: What is the land size What is the land value What exactly are they proposing How long will it take them to deliver the project? How long will they operate before they transfer? Ask them these questions and it will help you u derstand certain things better. 1 Like 1 Share |
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