This document is used by a landlord and tenant for rental purposes only for residential purposes. It is only used if the term of the lease is less than 3 years. What is a lease in Nigeria and how does it work? In this article, you will discover all the key features of how you can write this document and who are the parties that are expected to act in accordance with this Agreement. Section 13 of the Lagos State rental right sets the duration of the termination in the absence of an agreement between the landlord and the tenant; One month for a monthly lease; 3 months notice for a semi-annual lease and 6 months notice for an annual lease. Goods provided as part of the document are often referred to as leases. It always includes specific rights to real estate. A rental property can go to other questions about rent. However, in any typical tenancy agreement, you can answer the following questions: The concept of lease is widespread in Nigeria, it is reported that in 2010, 85 per cent of Nigeria`s municipal population lived in rental housing and spent a large part of their income on rent. This proves that the lease is widespread in Nigeria and is still widespread. The purpose of this writing is to briefly discuss the concept, laws, clauses, rights related to leases with a particular focus on the State of Lagos.
It is also a very simple part of the lease. The property provided for the rental agreement includes all real estate, apartments, houses, business offices, car parks, vehicles or storage units. It includes not only a bedroom, but also common areas of accommodation, such as basement, attic, laundry, balconies, pool, roof terrace. After filling out the form, the tenant must go through the agreement and sign two copies of the document. Subsequently, the landlord should also sign both copies and deliver a copy to the tenant. After payment of the rent, the landlord must issue the tenant a proof of rent (depending on the measure of the rent payment). Yes, a landlord may throw a tenant off the premises, as long as the tenant is given appropriate notice. However, non-payment of rent is not the only reason a tenant can be laid off. A tenant may be evicted for the use of the premises for illegal purposes or if he violates a contract in the tenancy agreement or if he constitutes a nuisance or if the tenant has abandoned the rented premises. Tenants may prefer temporary rent if they know exactly how long they must occupy a property. A rental agreement is a relationship between a person and his owner. A lease gives rights to both parties.
The dominant factor of a lease is that it is safe for a term, which is usually between one to three years with the possibility of renewing itself. Any three-year lease is considered a lease agreement and not a lease. However, it is important to note that under Lagos State Tenancy Law 2011, a landlord cannot accept rent beyond a one-year period, except for designated areas such as Ikoyi, Victoria Island, Apapa and Ikeja GRA. At a minimum, the agreement should indicate the parties, the duration of the tenancy, the real estate and the amount of the rent.