COSTLY MISTAKES LANDLORDS AND LANDLADIES MAKE IN NIGERIA 

COSTLY MISTAKES LANDLORDS AND LANDLADIES MAKE IN NIGERIA

Many Landlords/Landladies in Nigeria lose out of getting full benefits from their rented houses because they repeat the same costly mistakes over and over again. Owning a building is one thing; managing it well is another.

One of such mistakes is trying to manage their property by themselves without engaging an experienced Property Lawyer who understands tenancy laws, eviction procedures and how to structure and enforce rental terms to protect the Landlord’s interests.

Without the right step, Landlords often run into issues with Tenants, some dragging on, even ending up in court.

Another major blunder Landlords make is not having a comprehensive Tenancy Agreement. Many rely on verbal promises or forms downloaded online. This is dangerous.

A proper Tenancy Agreement should state the rent amount, payment duration, default consequences, notice periods, the rights and duties of both Landlord and Tenant.

It is the single document that determines who wins or loses if a dispute arises.

Other common mistakes include failing to screen tenants, ignoring property maintenance and mixing business with emotions.

A tenant-occupied property managed by a competent Property Lawyer helps a Landlord secure rental income, preserve the property and have rest of mind.

A Landlord who ignores these legal steps is not managing property; he is gambling with his property.

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APEX CHAMBERS, Law Firm of Property/Real Estate and Business/Corporate/Commercial Lawyers, Attorneys, Barristers, Solicitors Advocates, Legal Practitioners rendering legal services, Legal Consultants and Notary Public with Law Office in Port Harcourt, Rivers State, Nigeria

Phone: +234(0)7030868694 (Calls & Whatsapp)
Email: info@apexchambersglobal.com
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