House Rentals Lagos Nigeria - Free House Rental Tips

House rentals Lagos Nigeria - Many people scout Lagos Nigeria for months in search of their dream apartment but without success. They move from location to location and from one real estate agent to another - and yet another and another - in search of the perfect house rentals. And again and again they end up being disappointed. This is heartbreaking to say the least.

Ask residents in Lagos who have been through the ordeal of apartment search and they will have lots of ugly stories to tell you.

Why do people go through such painful ordeal just to rent an apartment? Is it that rental property is hard to come by in Lagos?

Obviously, the problem is not that there are not enough homes for rent. As you drive on the streets of Lagos Nigeria or commute via public transportation, you will notice that the number of commercial property is a very small percentage compared to the number of residential house rentals.

In simple words . . . the number of residential real estate in Lagos is far more than the number of commercial property. That means, millions of residential houses are available for rent!

That is comforting to know. But then, why do people find it so difficult to get their dream home?

There are a number of reasons responsible for this apparent difficult in getting an apartment in Lagos. The reasons include:

1. Low budget - Some people want house rental in premium locations but don't have the budget to support their desire

2. Tough requirements - some people set tough conditions. For example, one of my client wanted to rent a new house in Ikeja with all rooms ensuite and her budget was =N=250,000 per annum. For starters new houses are not common in Ikeja area of Lagos Nigeria because Ikeja is a well established neighbourhood with most of the houses built decades ago.

Of course, there are a few new houses but her budget was ridiculous because Ikeja is a prime location with even the poorly built houses being expensive. So, her budget of =N=250,000 per annum was a far cry from what obtained.

Bottom line.

This client's search will be long and hard.

3. Poor self assessment of financial capability - This relates to the question of budget above. Some people want to rent a 1 bedroom apartment when they can only afford a single room. Some others want a 2 bedroom apartment when they can only afford a 1 bedroom apartment. So they search and search for rental houses that suit their wants. They find the apartments but what they find does not match the size of their budget. So they keep searching hoping that someday they will find a landlord that is not keen on charging high rental price for his Nigeria real estate.

Fortunately, some people eventually find those kind of landlords with lovely apartments but low rental price after a long gruesome search. Their patience eventually paid off.

The bad news is that there are few real estate owners or landlords in Lagos that charge low rent. Most study the market and set the rental price for their property according to the prevailing market rate.

So, if you're that potential tenant searching for a beautiful but cheap house, your property search is likely to be long, hard, and painful.

My advice?

Determine what you can reasonable afford with the constraints of your budget and go for it.

This means that if you love big houses but can't afford it, then make do with small houses until your financial capability improves. Otherwise, you may end up with unfulfilled dreams.

Believe me, that is the course of wisdom.

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