Maybe I should ask you; “how does renting a home in Lagos for the first time feel?” With a busy real estate market and variety of options, it’s easy to make mistakes that could lead to regrets.
At Rent House Surulere, we are here to guide you through this journey to ensure you make quality decisions and avoid common mistakes.
What You Need to Know About Renting a House in Lagos
Renting your first apartment in Lagos is a significant achievement. It’s not just a new level for you but also shows your personal growth.
However, it may take quite some work to secure a suitable rental property in Lagos. The real estate market in itself has some challenges, as well as some other experiences you may stumble on, particularly since you’re unfamiliar with the environment.
This article will provide you a guide on how to tackle issues like hidden costs, verifying property ownership and so on in order for you to make decisions that you won’t regret.
Also see: 10 important things to consider before renting a house in Surulere, Lagos.
10 Real Estate Mistakes to Avoid as a First-time Renter in Lagos
1. Understanding the Real Cost of Renting
At first glance, some advertisements to rent an apartment in Lagos might seem presentable or, better still, manageable.
However, it’s so important to recognise that the price you may see at first doesn’t cover the expenses needed for you to rent that apartment. Beyond the cost of renting a house, tenants are responsible for additional fees, like:
- Agency fees: Usually 10% of the annual rent.
- Legal fees: Also around 10% of the annual rent.
- Caution deposits: A refundable fee, often around 10% of the annual rent, paid against potential damages.
- Utility bills: Including electricity (NEPA), water, and waste Management (LAWMA) fees.
- Community development levies: There are often charges imposed by local resident associations for neighbourhood maintenance and security that you may need to pay.
These additional costs can significantly increase the price to rent a house. Sometimes, it may almost double the expected expenses. It’s so important to factor in these expenses and ask questions when budgeting to avoid surprises.
2. Selecting the Right Location
Lagos is a large city with diverse areas for different kinds of people and suits different purposes. When choosing a location, it is crucial to take the following into consideration: proximity to your workplace, the ease of getting public transportation, security, and access to amenities like good roads, schools, marketplaces, and so on.
For instance, areas like Ojo, Ogba, or Oshodi have apartments that you can rent at lower prices when compared to other areas. But moving from such a location to the city centre could be time-consuming and costly.
On the other hand, places like Ajah and Surulere have houses for rent that are affordable, easily accessible, and have basic amenities.
Within Surulere, areas such as Bode Thomas and Eric Moore are known to be high-class residential places, while you can rent a place at Ojuelegba to cut down on cost.
If you want to settle for Surulere or anywhere else in Lagos, you need to know 10 things to consider before going with a real estate agent in Surulere.
3. Verifying Property Ownership
One important step you must look out for in your rental process is to confirm the legitimacy of the property and its owner.
There have been so many instances of fraudulent agents or individuals posing as landlords in Lagos, and it’s necessary to be vigilant.
As a potential tenant, thoroughly vet the property and its owner. You need to take certain precautions in order to minimise the risk of falling prey to rental scams. Working with a reputable agent like Rent House Surulere and doing some research on your end about the property is also non-negotiable. To safeguard against rental scams, you need to:
- Meet the landlord: Ensure you interact directly with the owner of the property or a verified representative.
- Request for documentation: Ask for the Certificate of Occupancy (C of O) or other legal documents to prove ownership of the property.
- By all means avoid cash transactions: Make payments through transfer or methods that you can always get receipts for, because you’ll need proof of payment.
- Consult the land registry: You can go further to verify the property’s status with the Lagos State Land Registry to ensure there are no disputes or pending issues.
4. Conducting Thorough Property Inspections
It may be to your detriment to believe everything you’re told online via pictures, or sometimes videos from an agent you met online without asking questions or conducting thorough inspections.
The relevance of doing a thorough inspection of the property you want to rent cannot be overemphasised.
This is to ensure that you see exactly what your new home looks like and do not have unmet expectations when payment has been made.
Before getting into a rental agreement, thoroughly assess the condition of the property to know if there are any potential issues that could affect your comfort, safety, and the quality of life you desire.
A detailed inspection can help you see the hidden problems, negotiate repairs with the landlord, and avoid costly surprises.
There are key areas you need to focus on during an inspection. They include, but are not limited to:
- Building structure: Check the building for cracks, dampness, or signs of water damage.
- Plumbing and electrical fittings: Ensure all pipes and fixtures are working properly and up to standard.
- Security: Check the burglary if it’s well protected, the door’s security, gates, and window locks.
- Water supply: Confirm if there’s a reliable water supply in the house or area, and the kind of supply available.
- Power supply: Ask questions about the stability of electricity in the area and the presence of alternative power sources like generators or inverters.
- Ventilation and lightning
- State of cleanliness and maintenance of the entire house
- Pests or rodent disturbance, and other environmental concerns.
It’s advisable to visit the property and inspect it properly so you don’t settle for what you can’t cope with and avoid potential issues or costly repairs subsequently.
5. Understanding the Tenancy Agreement
The tenancy agreement is a legally binding document that outlines the terms and conditions of renting an apartment. It is on this basis that a tenant and landlord relationship is built.
It is necessary to read and understand every word in the document before signing, as failure to do so may lead to outcomes you don’t expect, disputes, or financial losses.
When the tenancy agreement is well understood, both the landlord and you, as a first-time renter, will be aware of your rights, responsibilities, and obligations. There is certain information you should focus on when reading this document; they include:
- Duration of tenancy: Ensure you are well aware of the period you’ll be renting the property and the terms required of you to renew it.
- Terms of rent payment: You also need to understand the payment schedule, the method of payment the landlord accepts, and any penalties for late payments.
- Maintenance responsibilities: The document should also state who is responsible for repairs and maintenance, so look out for that.
- Rules for termination: Know the notice period required for termination and any penalties associated.
- Rent increment policies: Clarify the issues of the increment. Get to know if and when rent increases are permissible and the percentage, if any.
If any part of the agreement is unclear, ask for clarity or consult a legal professional to ensure your rights are protected.
6. Checking Neighbourhood Security
Safety is a paramount concern when selecting a rental property; this is because it impacts how well you’ll thrive in the place you’ll be renting.
Considering the security conditions within the property you intend to rent and in the neighbourhood is important to ensure you feel secure and protected.
This is because a safe environment will not only give you peace of mind but also make you excited about your choice.
When checking for properties to rent, consider the following factors to know its level of safety and security:
- Presence of security personnel: Is there a dedicated security guard or a watch in or around the neighbourhood?
- Are there gates, fences, or other barriers restricting people who are unauthorized?
- Lighting: Is the area well-lit at night? And how safe the place is in general.
- Crime rates: Ask questions about your findings regarding the crime situation in the area. How often do they experience it and speak to current residents about their experiences?
7. Documenting Property Condition
Before moving into a new rental property, it’s necessary to thoroughly document the condition of the property in order to avoid disputes that may arise when vacating. Particularly if you’ll be paying a caution fee.
This step helps protect you from paying for what you didn’t damage and ensures that you move out smoothly when you want to.
It also provides a clear record of the property’s state when you became a tenant, especially when you want a refund of your caution fee.
Also, by doing this, you can prevent unfair charges for damages that existed before you came and avoid conflicts with your landlord. Here are some clear guides to help you document your property condition:
- Take clear photos of all rooms, fixtures, and any existing damage.
- Create a detailed list of items provided with the property; write down their conditions as well.
- Have the landlord acknowledge the documented condition of their property in writing.
8. Going for Multiple Options
When searching for the perfect property to rent, our advice for you at Rent House Surulere is that you should not settle for what you don’t like in a bid to escape from the stress of searching for a better place.
Resist the temptation to settle for the first option you come across. Going for multiple properties and options allows you to compare and weigh the pros and cons of each and make better choices for your most preferred choice.
When you consider various properties, you can identify your priorities, find the best fit for your needs and budget, and avoid regrets. Having options also allows you the opportunity to negotiate and find the most suitable property. To get multiple property options, you need to:
- Engaging multiple agents: Different agents may have access to different properties. So, engage a number of them so you don’t get glued to a particular property or place.
- Search online platforms: Websites like Rent House Surulere, PropertyPro, and private real estate pages on social media also promote properties you may find suitable for you. So, check them out.
- Ask for recommendations: Friends, family, and colleagues can provide referrals based on their experiences.
9. Building Relationships with Neighbours
Establishing a good relationship with your neighbours includes your landlord and caretaker. There are certain factors that, when put in place, can make your living experience better and more interesting; this is part of it.
When you build a positive relationship with your neighbours, you’ll most likely have someone who has got your back, which makes you have a sense of belonging and feel more welcome.
Neighbours can also assist you during emergencies or provide valuable information that can save the day.
Building a cordial relationship with the landlord, property caretaker, and estate manager can cause your maintenance requests to get quicker responses.
As a first-time renter, you also need to know that a connected community is more likely to look out for one another, particularly in terms of safety.
10. Avoiding Emotional Decisions
It’s easy to fall in love with a property at first sight, but don’t let your emotions be the yardstick for making a rental property. Always approach the decisions to rent a property logically.
This also means that you should not settle for the first property you view; instead, consider how the property fits your needs and future plans.
If you’re always quite emotional or you perceive you may make emotional decisions, bring along trusted friends or family during inspections so you won’t be caught in a web you never bargained for.
Don’t forget, as a first-time renter in Lagos, you need to understand your rights and responsibilities as a tenant, budget for future increases, and plan for the future. This includes rent renewal, relocation plans, and so on.
Conclusion
In the end, finding your first rental property in Lagos requires patience, research, and careful planning. You need to take time out to understand the market, inspect properties thoroughly, and build relationships with landlords and neighbours; you can create a home that feels safe, welcoming, and fitting to your lifestyle.
At Rent House Surulere, our team of experts is dedicated to helping you find your ideal home. Reach out to us today to schedule a consultation or tell us if you want to rent a house, and let’s work together to make your first Lagos rental experience stress-free.
