For Rent By Owner
Often the sign is a piece of wood on which is written, "Rooms To Let" or "Flat To let".
A property managed by a real estate agent or offered for rent by owner through an estate agent would carry a board or steel plate with the agent name, address, and contact phone.
Renting direct from the property owner saves you money.
Well, when you deal directly with the property owner you bypass the real estate agent and his fees. This means you don't have to pay the real estate agent commission that can be as high as 10 percent of the property value.
This is huge savings depending on he value of the property.
However, some Lagos landlords are getting greedier. Now some require you to pay 20 percent of the property value as commission. That is, 10 percent estate agent fee and 10 percent legal fee. They collect this even when you did not locate the property through an agent.
These greedy landlords pocket the money and count it as profit.
This means that getting a property for rent by owner in Lagos Nigeria does not guarantee that you won't pay estate agent commission. In fact, most homes offered for rent by the owner is due to the greed of the landlord.
But, wait a minute. Why would you want to deal with the owner directly and not through a real estate agent?
Sure, you save some money when you bypass the estate agent. But don't forget that the real estate agent offers a valuable service.
The experienced estate agent knows the territory, the market, and your place in it. Employing his service can save you a lot of heartache.
Use the services of a real estate agent. I say that with the utmost sincerity.
P.S. Want a home for rent by owner? Talk to us first. We are trustworthy Lagos Nigeria real estate agents.
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