Peledonomy:



Nigerians will always be afraid of loans. Y

oya go and collect loan and come and cry here latter

Versitee:
Good evening all.

Please my husband wants to covert some of the rooms in our hose to self con and rent it out.

We have just 1 tank of 3k litres. Bringing in tenants means we have to buy another tank but we don't have enough money for the renovations and the extra tank.

We either renovate, and rent out without connecting water. Tenants will have to fetch using the backyard tap. In that case rent will be 120.

Or we get a loan and buy a tank and connect. Then rent will be 180k.


What do we do?

N/B. my husband wants to collect the rent monthly and not yearly.

I think you should do whatever you want to do now and rent it according to the rent in that area

If you leave it till you get money, materials will keep increasing

Look for money when they rent it pay back the money and hope for subsequent rent payments

Monthly is not advisable as you are not in their pocket to determine how regular their payment will be

Peledonomy:



Nigerians will always be afraid of loans. Y

probably due to what the online loan sharks are doing to customer.imagine paying as high as high as 60k interest for a monthly loan of 250k in Nigeria.

The tenant will resent that you have water and they are not connected to it. Take the loan and with 180k rent you will finish paying in no time.

Versitee:
Good evening all.

Please my husband wants to covert some of the rooms in our hose to self con and rent it out.

We have just 1 tank of 3k litres. Bringing in tenants means we have to buy another tank but we don't have enough money for the renovations and the extra tank.

We either renovate, and rent out without connecting water. Tenants will have to fetch using the backyard tap. In that case rent will be 120.

Or we get a loan and buy a tank and connect. Then rent will be 180k.


What do we do?

N/B. my husband wants to collect the rent monthly and not yearly.

Puss360:
Don't collect loan ...
Rent your normal 120 k....
Do the plumbing for water.... Down...
Charge your 120k...
Once they pay, you use it to buy tank and connect water.....
Next rent make it to be 150 max... Then you explain that "Because of the water running that's why the increment"...
In the event they refuse, then they pack out and you give the incoming tenant 180k...

Don't borrow loan for building or house renovation....

Why People like you no dey gree contest for leadership?

WiszyFraud:
Did you know??




In Mauritius, the President, Vice President and Speaker were all women from 2015-2017.

Mauritius is Africa’s most developed, peaceful and happiest country with 100% electricity access, free education, free healthcare and free transport for students, old people and the disabled.

Meaningless observation. How many people live in Mauritius. The smaller something is, the more manageable it is.

Peledonomy:



Nigerians will always be afraid of loans. Y

Loan is good if used for investment. But nowadays bills are increasing, profits is not even useful to u, and high interest rate.
Maybe she can collect cooperative

WiszyFraud:
Did you know??




In Mauritius, the President, Vice President and Speaker were all women from 2015-2017.

Mauritius is Africa’s most developed, peaceful and happiest country with 100% electricity access, free education, free healthcare and free transport for students, old people and the disabled.

Na the 2015 to 2017 Gret fixed all of that? Who were the leaders before then.

U go just come online dey comment off topic

Tenant!
Tenant!!
Tenant!!!
How many times I call tenant?
My current tenant, eh!
After the expiration of his rent, I offered to give him 6 months rent (in cash) free, just to make him leave my house.
For where? The guy no gree.
He still dey there with him family of 7. Dem dey form superman for me.

bestman09:
You don't need to borrow any money. Rent out the house for the normal 180k. Tell the tenants that they will be parking in in a months time after the renovations and use their money to buy the tank and other renovations.

Experienced Lagos landlord, you sabi well well 👍

That's how it works, 2/3days plumbing work would be done. But to rent out 120k and increase the following year after fixing the water issue is a no no.

patorial:



Why People like you no dey gree contest for leadership?

Lol.. abeg o

Versitee:
Good evening all.

Please my husband wants to covert some of the rooms in our hose to self con and rent it out.

We have just 1 tank of 3k litres. Bringing in tenants means we have to buy another tank but we don't have enough money for the renovations and the extra tank.


We either renovate, and rent out without connecting water. Tenants will have to fetch using the backyard tap. In that case rent will be 120.

Or we get a loan and buy a tank and connect. Then rent will be 180k.


What do we do?

N/B. my husband wants to collect the rent monthly and not yearly.

The 3000 Litres tank can serve your family and the new tenant, there is no need to buy a new tank for now and don't take a loan. It's advisable you collect your rent quarterly

How many rooms is he converting to self con and have you been given quotation for the cost of renovation and tank installation, you need to get this done then find out the cost of letting out a room self in that area, sign an agreement with someone and ask the person to pay half in advance to begin the renovation then they move in after the renovation is done…

You don't need a bigger tank. 3k litre tank is enough. It's not good for the water to stay too long in the tank too. Atleast if you're pumping water every two days is fine.

Puss360:
Don't collect loan ...
Rent your normal 120 k....
Do the plumbing for water.... Down...
Charge your 120k...
Once they pay, you use it to buy tank and connect water.....
Next rent make it to be 150 max... Then you explain that "Because of the water running that's why the increment"...
In the event they refuse, then they pack out and you give the incoming tenant 180k...

Don't borrow loan for building or house renovation....

Another round of applause
Standing ovation
You try but you dey pay rent abi u dey squat with man ?

Versitee:
Good evening all.

Please my husband wants to covert some of the rooms in our hose to self con and rent it out.

We have just 1 tank of 3k litres. Bringing in tenants means we have to buy another tank but we don't have enough money for the renovations and the extra tank.

We either renovate, and rent out without connecting water. Tenants will have to fetch using the backyard tap. In that case rent will be 120.

Or we get a loan and buy a tank and connect. Then rent will be 180k.


What do we do?

N/B. my husband wants to collect the rent monthly and not yearly.

Self con will be much appreciated if water is running into the apartment.

On the issue of loan, interest is going higher these days. If you or your husband can get a salary backed loan with a shorter tenor, that will really help.

Monthly rent is a good idea. May I suggest to you, ma?
Quarterly rent might not be a bad idea too. It will afford the tenants the ability to pay easily compare to yearly.

Elsmufy:

Another round of applause
Standing ovation
You try but you dey pay rent abi u dey squat with man ?

I dey live under bridge... This weekend come and take me out....

FOJEM:
Tenant!
Tenant!!
Tenant!!!
How many times I call tenant?
My current tenant, eh!
After the expiration of his rent, I offered to give him 6 months rent(in cash)free, just to make him leave my house.
For where, the guy no gree.
He still dey there with him family of 7. Dem dey form superman for me.

Tenants are worst. Only 5% of them are nice.

Versitee:
Good evening all.

Please my husband wants to covert some of the rooms in our hose to self con and rent it out.

We have just 1 tank of 3k litres. Bringing in tenants means we have to buy another tank but we don't have enough money for the renovations and the extra tank.

We either renovate, and rent out without connecting water. Tenants will have to fetch using the backyard tap. In that case rent will be 120.

Or we get a loan and buy a tank and connect. Then rent will be 180k.


What do we do?

N/B. my husband wants to collect the rent monthly and not yearly.

Am I mad...?...

Puss360:
Don't collect loan ...
Rent your normal 120 k....
Do the plumbing for water.... Down...
Charge your 120k...
Once they pay, you use it to buy tank and connect water.....
Next rent make it to be 150 max... Then you explain that "Because of the water running that's why the increment"...
In the event they refuse, then they pack out and you give the incoming tenant 180k...

Don't borrow loan for building or house renovation....

@Versitee follow this Advice, besides where is the property based, that 120k, is a yearly fee, the highest some will pay per month is 70k, and it's for a complete flats

I think this is a good idea

Puss360:
Don't collect loan ...
Rent your normal 120 k....
Do the plumbing for water.... Down...
Charge your 120k...
Once they pay, you use it to buy tank and connect water.....
Next rent make it to be 150 max... Then you explain that "Because of the water running that's why the increment"...
In the event they refuse, then they pack out and you give the incoming tenant 180k...

Don't borrow loan for building or house renovation....

You really have some sense,. are you sure you are female?

Puss360:
Don't collect loan ...
Rent your normal 120 k....
Do the plumbing for water.... Down...
Charge your 120k...
Once they pay, you use it to buy tank and connect water.....
Next rent make it to be 150 max... Then you explain that "Because of the water running that's why the increment"...
In the event they refuse, then they pack out and you give the incoming tenant 180k...

Don't borrow loan for building or house renovation....

dont get loan, do as your budget reach, if you take loan now, wahala don start

Renovate the house , connect water and get yearly amount of 180k.

Rent out at the best rate u want.
Collect the rent and do the plumbing job within shortest possible time.
Plumbing work does not take long.

Any house owner who rents out an apartment and decides to subject the tenants to fetching water with buckets from some distant tap, is wicked and callous!

Error401:
You really have some sense,. are you sure you are female?

Too bad you have a low opinion of females... Remember someday you will have a daughter...
Try give her the best education, for one day people will be proud of her... ;🤦🤦🤦

I am proud of you, just that finding a sensible one is one in a million. Sure I will train my daughter to be that one in a million

Puss360:

Too bad you have a low opinion of females... Remember someday you will have a daughter...
Try give her the best education, for one day people will be proud of her... ;🤦🤦🤦

WiszyFraud:
Did you know??




In Mauritius, the President, Vice President and Speaker were all women from 2015-2017.

Mauritius is Africa’s most developed, peaceful and happiest country with 100% electricity access, free education, free healthcare and free transport for students, old people and the disabled.

Population of Mauritius PEOPLE pls.


let us compare apple and apple abeg

FOJEM:
Tenant!
Tenant!!
Tenant!!!
How many times I call tenant?
My current tenant, eh!
After the expiration of his rent, I offered to give him 6 months rent (in cash) free, just to make him leave my house.
For where? The guy no gree.
He still dey there with him family of 7. Dem dey form superman for me.

Tenant dey form superman give you inside your own property? Sure say na you build the house or you inherit am?

Cause person wey sabi wetin e take to build solid house for Nigeria no go come share this kind comment with smiling emoji.