Looking to rent out your residential property in Lagos? Here is a handy list to keep in mind.
Understand what is involved.
Can you handle the responsibilities that come with being a landlord? While the benefits of being the owner of a property rental are numerous, it also comes with obligations such as the ability to sometimes deal with difficult tenants, vacant periods and stay on top repairs and maintenance.
Know the law.
You must give the tenant prior notice if you wish to change the lease terms or not renew the tenancy contract (unless otherwise agreed by the parties). This also applies with respect to rent increases. If you wish to sell or use the residential property for your personal use, you must provide a notice stating the applicable reason, through notary public or registered mail.
Prepare your residential property.
Renters are spoilt for choice in a market like Lagos where new buildings/properties spring up every day. You need to ensure that your property is well kept and clean, appliances are working, and are in a good condition.
Talk to a professional.
We have agents/ real estate consultants who specialize in Lagos’s key communities; so get in touch to discuss pricing, marketing, local real estate laws and the steps involved in renting out your residential property.
The agents will advertise your property rental on major property listings platform and highlight all the valuable aspects of your home on a dedicated property unit page.
Screen tenants carefully.
The Agent will select someone who will not only pay the rent on time, but also keep your home in good condition.
Looking for a tenant for your Lagos property rental? Give us a call on +234 704 623 1479 to talk to aanda consultants.