Akin3891:


After the 2 months grace expire, she may ask you for a proper quit notice , she cld say give me quit notice if you can't be patient with me to move out. Commit her by signing an undertaking letter to move out in or before 2 months time. I was in a police station earlier today for a case similar to this, the tenant begged for 3 months grace to settle rent, after 3 months elapsed, she said pls give me quit notice of 6 months, I was like gosh, you played me. I had to use my police connection to turn things around. With my previous worst experience, I can't take tenants to court ever again

Please enlighten me of what to do, one of my tenants is owning me close to 2yrs rent, every day story upon story. Though he's not a trouble maker but I guess he doesn't have much yet he wants to live in a decent flat. When it was a yr rent I got my agent to issue him quit notice, he came begging an crying and promised to pay up(I withdrew the quit notice) he did pay after a while, since then almost 2yrs now kobo he no pay. I've heard enough of him and want to get rid of him

XiaoLi:
Thank you for this, this is a lady moving out because other tenants are not in good term with her do to her bad behaviours, instead of her to jejely move out now she is requesting for an extra two months, when the agent tried to persuade her to pay for the two months she started using foul language that she will never do that instead we should serve her a quit notice. Some people are just very wicked and troublesome in Nigeria that will make you to think if they are really human!

Wait o, let me get this straight. Does a tenant who's rent has already expired, and who personally decided to move have the right to ask for a quit notice? I thought a quit notice was only necessary if it's the landlord asking the tenant to leave either before or after the tenant's rent expires, and who is willing to pay while the landlord refuses to accept further payment. A rental apartment owned by an individual is for profit purpose and not a charity organization. If a tenant wants extra time, when I didn't ask him to leave, he ought to pay for it. Also if a tenant didn't indicate plans of moving but owes, I don't think he has the right to demand for a quit notice. He can only be served a 7 days notice from a lawyer to move. At the end of which I believe the landlord has the right to throw out his belongings. I don't want to believe that landlords are absolutely just at the mercy of their tenants. Pls I stand to be corrected. I'm open to learning. Everyone pls.

Risingcash94:





Wait o, let me get this straight. Does a tenant who's rent has already expired, and who personally decided to move have the right to ask for a quit notice? I thought a quit notice was only necessary if it's the landlord asking the tenant to leave either before or after the tenant's rent expires, and who is willing to pay while the landlord refuses to accept further payment. A rental apartment owned by an individual is for profit purpose and not a charity organization. If a tenant wants extra time, when I didn't ask him to leave, he ought to pay for it. Also if a tenant didn't indicate plans of moving but owes, I don't think he has the right to demand for a quit notice. He can only be served a 7 days notice from a lawyer to move. At the end of which I believe the landlord has the right to throw out his belongings. I don't want to believe that landlords are absolutely just at the mercy of their tenants. Pls I stand to be corrected. I'm open to learning. Everyone pls.

Not that straight forward and easy. Bad tenants are bad for real estate Investments

This is for those who care to apply, i wish you best of luck. https://scholarship-positions.com/international-student-scholarship-at-university-of-montreal-canada/2020/05/29/

Akpaamunsi:


Nwaneni, You still brought this your ashewo sexuality thread gangster character to a thread meant for the creme de la creme of d society
Dude, you need to stop being belligerent. This is not Aba or Onitsha main market where u and your fellow alcohol dealers come to exchange insults.
Peace, kid bro

Akpaamunsi Agwu

mayDtolu:
Hello house! I just heard about treasury bill investment but I have some questions bothering me...

(1) Is 2M a good amout to start with? Because I would like to invest for just a year...

(2)How much interest should I expect on 2M?

I need advice on what to invest in that will yield higher interest in a year apart from fixed deposit..

Thanks!

May we not hear about something when it's glory days are over.

XiaoLi:
According to the agent that manages the house, he said that Nigerian law favours the tenanats, now that she is not ready to move out..assuming we give her a quit notice the quit notice will elapse in the next 3 months according to the Nigerian law, so if we give her quit notice now it means we are offering her 3 months free rent (extra 1 month from her initial request).
I think this is the reason she didn't accept to pay for the extra 2 months but rather yelling we should give her quit notice if we cannot accept her request, you see how troublesome she is?

She has no right to yell. You didn't ask her to quit. She decided to leave. Therefore should pay you for time extension. Turn the table by asking her not to move and pay you. If she refuses then she has to pay you for deciding to hold down your house while looking for somewhere else. Record this conversation without her knowing. personally I plan on giving one of my tenants a quit notice from her sixth month before her rent expires. That way she has enough time to plan. At the expiry of her rent, she has no reason to ask for extra time o. I can only add 7 days extra after which my dear na with police and friends I go use storm that house comot everything. Which Kain talk be dat. Even if she's not at home, with the police, we'll film the whole process, from breaking into the house, to taking inventory of everything in it, before moving them to the police station. When she's ready she go go pack her things there. Abeg if that won't work the house should educate me. That court thing na long process o. If the tenant's stuff is out of the house, they won't be so interested in making court case they'll because Dem know say Dem don loss the house already. Unless na the demonic ones

MrMcJay:


For those buying properties in that Lekki area, particularly between Ikota and Sangotedo, there are a lot of Agric C of Os given for 20 or 30 years which are close to termination. In fact, there is one Budo Farm C of O that faced something similar. The problem is that those who held the Agric C of Os have resold to other persons who have now built. Because they saw C of O, they just bought the land and built, not knowing the difference between Agric C of O and other types.

Unfortunately, the government is not renewing these Agric C of Os, instead they are giving the parcels of land to new allottees which would now be residential C of Os. The new allottees are not those who bought from those with Agric C of Os, but the original landowners who the holders of the Agric CofO bought from. Those who bought and built with Agric C of Os would now have to face those issued new C of Os by the government.

In the end, they would be forced to pay Ratification fees to the holders of the new C of O. Ratification which would run into Millions of Naira.

This is eye opening, truly “Knowledge is power".

.

Akpaamunsi:


Nwaneni, You still brought this your ashewo sexuality thread gangster character to a thread meant for the creme de la creme of d society
Dude, you need to stop being belligerent. This is not Aba or Onitsha main market where u and your fellow alcohol dealers come to exchange insults.
Peace, kid bro

Akpaamunsi Agwu

What? What do you mean by "NwaNeni"? is he from Neni? Yikes.

missjekyll:


What? What do you mean by "NwaNeni"? is he from Neni? Yikes.

Yep.

Akpaamunsi:


Yep.

Chai! Please let's keep this secret. Let's cover it like cat poo. Neni people are usually nice. He will be gifted to Agulu,the home of controversy.

missjekyll:

Chai! Please let's keep this secret. Let's cover it like cat poo. Neni people are usually nice. He will be gifted to Agulu,the home of controversy.

Mind the things you say girl.
It is usually a joke till it goes haywire and out of control.
Be careful!!

Phraences:


May we not hear about something when it's glory days are over.

Amen ooo!

XiaoLi:
Thank you for this, this is a lady moving out because other tenants are not in good term with her do to her bad behaviours, instead of her to jejely move out now she is requesting for an extra two months, when the agent tried to persuade her to pay for the two months she started using foul language that she will never do that instead we should serve her a quit notice. Some people are just very wicked and troublesome in Nigeria that will make you to think if they are really human!

Has her present tenancy expired or it is yet to expire?

If the property is in Lagos and her tenancy is expired, she is not entitled to the statutory 6 months quit notice. All she's entitled to is 7 days Owner's Intention to recover premises.

zohan101:
Bro, dont bother arguing with him further..some people are not open to taking corrections when they are wrong, they would rather result to insults when they notice their ignorance is been exposed..

I can't argue with him. I'm paid to argue and won't waste my time on things that aren't worth it.

mayDtolu:
Hello house! I just heard about treasury bill investment but I have some questions bothering me...

(1) Is 2M a good amout to start with? Because I would like to invest for just a year...

(2)How much interest should I expect on 2M?

I need advice on what to invest in that will yield higher interest in a year apart from fixed deposit..

Thanks!

Hmm it seems you heard about Tbills late. But never mind it's good you even heard about it. All hope is not lost. Chines proverb: "the best time to plant a tree was 20 years ago the next best time is now.
Currently Tbills of one year tenor is around 4%, MMFs is between 4.5 and 6% depending on the fund manager, VGIF another form of mutual fund is 8.5%. You can get these options from Investment One (Former GTBank Asset management). Check my signature for my contact and link to open account or get more details.

Theconglomerate:
Mind the things you say girl.
It is usually a joke till it goes haywire and out of control.
Be careful!!

[s]

Sorry sir but we don carry you dash Agulu people.
Now ,whatever gains you make from your petty trading today, May I suggest you invest in learning interpersonal skills?

A little charm goes a loooong way.

PS: if that "girl" was meant to annoy me,it didnt at all. Barely noticed it. You know why? because I am not a prickly 5 year old. Peace out.

Feel free to mention me. I ll reply on a dead thread. I will knock some sense into your head. You will be a better person for it,Thank you.

Sorry to everyone else on this thread. Kindly continue. I ll keep this one occupied today

This is called self help which the law frowns against. You may get away with it depending on the type of tenant you have. The liability according to the Lagos tenancy law is 250k. I can bet with you that the tenant would demand more time after expiration of the 7 days notice. Most tenants have a wrong mindset that they are entitled to 6 months free before quoting. Unfortunately the current tenancy law is heavily in favour of the tenant and the superior courts have not made it any easier by giving conflicting decisions.

Risingcash94:



She has no right to yell. You didn't ask her to quit. She decided to leave. Therefore should pay you for time extension. Turn the table by asking her not to move and pay you. If she refuses then she has to pay you for deciding to hold down your house while looking for somewhere else. Record this conversation without her knowing. personally I plan on giving one of my tenants a quit notice from her sixth month before her rent expires. That way she has enough time to plan. At the expiry of her rent, she has no reason to ask for extra time o. I can only add 7 days extra after which my dear na with police and friends I go use storm that house comot everything. Which Kain talk be dat. Even if she's not at home, with the police, we'll film the whole process, from breaking into the house, to taking inventory of everything in it, before moving them to the police station. When she's ready she go go pack her things there. Abeg if that won't work the house should educate me. That court thing na long process o. If the tenant's stuff is out of the house, they won't be so interested in making court case they'll because Dem know say Dem don loss the house already. Unless na the demonic ones

MrMcJay:


Has her present tenancy expired or it is yet to expire?

If the property is in Lagos and her tenancy is expired, she is not entitled to the statutory 6 months quit notice. All she's entitled to is 7 days Owner's Intention to recover premises.

Will he need any papers from the court to take possession, if the tenant has not gotten any where to go

missjekyll:
[s]

Sorry sir but we don carry you dash Agulu people.
Now ,whatever gains you make from your petty trading today, May I suggest you invest in learning interpersonal skills?

A little charm goes a loooong way.

PS: if that "girl" was meant to annoy me,it didnt at all. Barely noticed it. You know why? because I am not a prickly 5 year old. Peace out.

Feel free to mention me. I ll reply on a dead thread. I will knock some sense into your head. You will be a better person for it,Thank you.

Sorry to everyone else on this thread. Kindly continue. I ll keep this one occupied today

We don carry you dash Agulu people?
The people from my place that have the kind of power to "dash" me to another clan are not on the internet looking to fix some peasant money for 7% profits per annum out of sheer lack of options and creativity,so honestly that is why I was surprised when you of all powerless people say you dash me to another clan.
The sense you want to knock into my head ehn,use it for yourself to move up the income of whatever investment which I'm sure is not much generates,that way who knows,you might actually get rich enough to be able to afford moving me to another clan.

By the way I also liked your post out of sheer optimism that you someday get to be in the position that will make you rich and powerful enough to move me away from my clan.

XiaoLi:
Thank you for this, this is a lady moving out because other tenants are not in good term with her do to her bad behaviours, instead of her to jejely move out now she is requesting for an extra two months, when the agent tried to persuade her to pay for the two months she started using foul language that she will never do that instead we should serve her a quit notice. Some people are just very wicked and troublesome in Nigeria that will make you to think if they are really human!

I think it's better to start getting references from previous landlords before renting out. Its not just about money, peace of mind is vital to your health.

yomi007k:


I think it's better to start getting references from previous landlords before renting out. Its not just about money, peace of mind is vital to your health.

I think this presents challenges of its own but it's a very good point nonetheless.

Am a landlord that don't need tenants for now, let me rest my head a bit after that December police saga. I really hot shocked reading the experience of a landlord here today. This I have been shouting when the only diversification of investment was property. It might work for others but never for me. "Man know thyself". My December experience also taught me a lesson I never knew which I shared here. A tenant whose rent has expired doesn't deserve a quit notice. Such tenants get 7 days notice of repossession of your property. He seizes to be a tenant at expiration of rent and becomes illegal occupant. Approach a court a ask for permission to posses your property. Evict him in 7 days or there about. Tenants quit notice is the receipt he got when he paid for the premises which has a termination date. Which date again does he need. He knew when to quit from The onset. Quit notices are for tenants whose rents are still running. Am not a lawyer but lawyers learning this for the first time should quietly credit my account for the lectures.

emmanuelewumi:

Will he need any papers from the court to take possession, if the tenant has not gotten any where to go

At the expiration of the 7 days, he would need to either take her to Court or take her to the Citizens' Mediation Centre. I prefer the CMC cos it's faster, it's affordable and they have the power to evict and get bailiffs to enforce eviction.

Whether the tenant has gotten somewhere to go or not is immaterial. In fact, if the court is involved, they can give an order that the properties of the tenant be sold to recover unpaid rent due to the landlord.

mayDtolu:
Hello house! I just heard about treasury bill investment but I have some questions bothering me...

(1) Is 2M a good amout to start with? Because I would like to invest for just a year...

(2)How much interest should I expect on 2M?

I need advice on what to invest in that will yield higher interest in a year apart from fixed deposit..

Thanks!

You have only one assignment. Read the first 100pages. Just take one day off to read. And you'll find everything you need to know.

@Xiaoli, Although I can't still remember where I saw that article, I am hoping it is not a WhatsApp broadcast, because that will make it difficult to track but if my memory is anything to trust then I think what read then is in line with what MR MC has written below about the 7 days grace rather the general perception that quit notice is the only way to evict an owing tenant. Also the general misconception that once you have a quit notice you can stay in a house free is also not true.

I really wish I find that article.

XiaoLi:
The whole thing is just tiring when somebody living in a house built with your hard earned money is dictating to you, please search and share at the bolded.

MrMcJay:


Has her present tenancy expired or it is yet to expire?

If the property is in Lagos and her tenancy is expired, she is not entitled to the statutory 6 months quit notice. All she's entitled to is 7 days Owner's Intention to recover premises.

I remember your experience, it may even have been you that wrote the article I am making reference to. I know I read something like that somewhere that cleared out some general misconceptions.

Barrytone:
Am a landlord that don't need tenants for now, let me rest my head a bit after that December police saga. I really hot shocked reading the experience of a landlord here today. This I have been shouting when the only diversification of investment was property. It might work for others but never for me. "Man know thyself". My December experience also taught me a lesson I never knew which I shared here. A tenant whose rent has expired doesn't deserve a quit notice. Such tenants get 7 days notice of repossession of your property. He seizes to be a tenant at expiration of rent and becomes illegal occupant. Approach a court a ask for permission to posses your property. Evict him in 7 days or there about. Tenants quit notice is the receipt he got when he paid for the premises which has a termination date. Which date again does he need. He knew when to quit from The onset. Quit notices are for tenants whose rents are still running. Am not a lawyer but lawyers learning this for the first time should quietly credit my account for the lectures.

zohan101:

Hello Sir, please I have a question with regards to the "CONTRACT OF SALE" mentioned in your comment below. Could you pls explain abit further what its about.

Also, I intend buying some plots of lands about 10 from a real estate firm, would you advise I ask a lawyer to draft this; "Contract of sale" and get the seller to duly sign it?

Thanks

Definitely. If you are paying by instalments, please ask your lawyer to prepare a Contract of Sale immediately you make the first payment.
If you are making an outright payment, ask your lawyer to prepare a Deed of Assignment for you to execute with the company.

Some real estate companies insist on their lawyers preparing the transaction documents but I believe if you're buying 10 plots, they should be flexible enough for your lawyer to prepare your documents. If they don't allow, ask your lawyer to proofread the document thoroughly and iron out all detrimental clauses before you sign.

Phraences:

May we not hear about something when it's glory days are over.

lool
amen oooo

Theconglomerate Versus Emmanuelewumi/MrMCjay were saying almost thesame thing but from different perspectives. While Mrmcjay derived his definition of "Commercial" from a C of O which is the root title thus talking from the perpective of a Property Lawyer and justifiably so.

On the other hand,Theconglomerate sees any income generating Property as a commercial venture which is also justifiable since he is an investor. Hence his use of "Commercial" could have been better stated.

However theconglomerate should learn to accomodate other opinion without going aggressive. I was taken aback by those words. I am also surprised at how he scoffs at those doing fixed income investments. You forgot that some people are in their wealth preservation phase of life. Thesame risk i could take at age 27,i may not want to take same at 45. Thats why i dont crucify young people around me who loses money to MMM. Experience is one of the best teachers thats if they are serious students to start with.

On rental Wahala. From my little experience as a realtor ,i only advice clients to rent out residential properties to certain class of customers on certain conditions. Even when all these conditions are meant, nothing is fool proof in Nigeria.

For example, An expatriate approached my firm to lease a duplex we just built in a mini estate. We wrote back to him offering him a medium lease of between 2 to 3 years on the condition that his company stands as his guarantor or the company enters into a direct tenancy agreement with us on behalf of our client. For whatever that is worth that gives us some relative peace. But such opportunities are only available to few locations where you have expatriates clusters in Nigeria. Even if you promise me 20% rental yield,i will never invest in Residential rental properties in many places in Lagos.e.g Egbeda, oshodi, Ogba, lagos island, ajah etc

However i can invest in Commercial rental properties in strategic locations in any of the areas stated above (Egbeda,Oshodi,Ogba,Ajah) as many will rather pay for office or shop rent before house rent. So before you build that block of 6 flats for residential letting ,why dont you Consider putting 10 shops for commercial letting on 400sqm. The Commercial land maybe more expensive but the stress is worth it. A friend recently did about 30 shops on strategic Ogudu road Ojota before completion everything was taken.

A second Case Study, A client abroad bought 2 properties from us with the goal of renting out both,my sincere advice to him was this. Put one on rental income, sell the second property at a 10% to 15% profit margin upon completion and put the money in Fixed securities or a Sound and consistent dividend paying stock.

Good day family, happy sunday please does anybody here have idea on casava farming, one of my younger brother is advising me to invest in it since we have enough farming land, if anybody have idea its profitable?