See What You Should Pay Before Owning a Property In Lagos

Lets look at 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 some 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

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