Fees To Take Note Of When Renting An Apartment In Lagos

Hello

Let’s look at the fees you would be paying when renting an apartment in Lagos.

Renting an apartment in Lagos is a task.

So with this, you can get prepared.

FEES TO TAKE NOTE OFF

Registration Form: This is the first money you would always pay before you see a property, this form is always ₦1,000 or higher times

Rent:  Renting an apartment means entering into a legal arrangement with a landlord (the owner of the property) to live in the space for an agreed-upon fee. This fee, which is usually paid on a monthly basis or yearly, is called rent. The renter who occupies the apartment is also known as the tenant.

Agreement: This fee is usually collected by agents, but of recent Landlords are now collecting agreement money. The agreement is usually 5% of the cost of property you are renting, if you don’t pay this fee you are not entering into your apartment.

Commission: This is the agent fee when you are renting an apartment, its usually the other 5% percent of the agreement from renting an apartment. The painful thing about commissions is if 10 agents are connected to a property they would share lets say ₦15,000 equally after a client have rented a property.

Legal Fees: If a property is being handled by a lawyer, you must pay legal fees to the lawyer. This fees are mostly for documentations etc

Service Charge: Most property on the island collect service charge, a charge made for maintenance on a property which has been leased. For example the space owners are the one that pay for your electricity, most shared apartments and short lets have serviced charged attached to their fees