What to look out for when renting new accommodation

THE NIGERIAN FACTOR APPLIES IN MOST DEVELOPING COUNTRIES ALL OVER THE WORLD

What to look out for when renting new accommodation
By Akinpelu Dada
Published: Thursday, 28 May 2009

When Mr. Francis Ilemobayo switched accommodation from Ikorodu to Isolo, he gave as reason the relative long distance between his home and his office in Ikeja and the associated stress of commuting daily to and from work with the notorious traffic problems on the ever busy Ikorodu road.
Rented House

According to him, the decision to leave Ikorodu was not easy at all because apart from the fact that the house belongs to him, his family had settled in the area and the difficulties of securing new accommodation in an unfamiliar environment weighed him down a bit.

He says, “It took a while for my wife to accept the decision for us to leave our own house and become tenants in another person’s house; but when I analysed the cost of staying in Ikorodu in terms of transportation and ill health as a result of stress, and compared it with that of the new abode, she reluctantly gave in.

“I must say, however, that apart from a few teething problems, the decision has turned out to be a wise one, because I spend less than 30 minutes to get home from work now instead of the average of one and half hours that I used to spend on the road to get to Ikorodu.”

People change accommodation for various reasons. They range from pressure from their landlords; changes in socio-economic status; need to move “nearer” activity points and disaster-induced switch among others.

However, when taking the decision to change accommodation, certain basic points should be considered.

There are many conmen parading themselves as estate agents and duping desperate accommodation seekers. Their activities thrive because of acute shortage in accommodation, especially in the urban centres, and the unregulated estate agency business, coupled with an apparent weakness of the law and the inability of the law enforcement agents to deal with the situation.

It must be pointed out, however, that there is a group that is recognised by law as estate agents, the Nigerian Institution of Estate Surveyors and Valuers, but because of the academic rigours of becoming a member, the number of licensed estate surveyors and valuers is negligible compared with the number of informal agents who dot every street in urban centres.

So, for an individual aiming to secure new accommodation, caution is not a word that should be treated with levity. If the individual is unlucky to fall into wrong hands, he may lose his savings to unscrupulous agents who may disappear without any trace, or he could contend with some other potential tenants who have equally been duped to fight for the right to secure the accommodation.

Besides, the agents most times put pressure on landlords to fix unreasonably high rents in the expectation of getting a generous commission out of the total rent. But they don’t stop at this, they often charge the tenant extra commission in addition to agreement fees that make the total money spent by the tenant to be way over the top. For example, Ilemobayo had to pay well over N500,000 for his three bedroom apartment for two years.

If you are searching for accommodation in an area you are not very familiar with, the best thing to do is to find out a lot of information about the neighbourhood from friends and residents. You need to find out how safe the place is. Ask neighbours about previous tenants. If possible ask to look around the property while the present tenants are still there.

In this part of the world, where electricity supply is very erratic you may need to find out about the schedule of supply for the area. While some neighbourhoods in Lagos enjoy up to 18 hours of power supply daily, some don’t enjoy electricity for months, relying instead on generators!

Then, you need to find out about the personality of your potential landlord. Is he the troublesome type that nothing pleases or is the “I don’t care” type? Will he reside in the same building with you or does he stay apart? What are the responsibilities of the landlord on the property and what are the limits of what the tenant can do?

Can you afford the house? This is an important question because there is no point taking up an accommodation that your income cannot support. Remember, it is not just the rent that you have to pay, there are utility bills and others like electricity or water supply.

Take an inventory of all the items in the house before you move in and remember to do this together with the landlord or his representative so that when you are vacating the apartment, both parties would be satisfied that no one is cheated.

At the end of your lease, assess the state of the property in detail with the landlord. Get him to tell you exactly what he is not happy with (if anything), and what he is going to charge you for, or take out of your deposit. Point out that he should expect reasonable wear and tear, especially if you have been there a while.

Rent prices vary greatly within neighbourhoods. Consider if you can live a little outside where you actually want to be for a fraction of the cost and greater apartment size.

It is important to identify your needs before committing your resources on a property. Does it satisfy your family needs? Is it located in a good neighbourhood and are the schools around it good enough for your children? What about ease of transportation to and from your work place? Is there ready water supply or do you have to provide your own water? What about sources of noise pollution in the neighbourhood – places of worship, market, musical record sellers among other?