How To Draft A Tenancy Agreement In Nigeria

It`s remarkable that one of the most important things about a rental agreement is that it usually follows with a set time, which eliminates the need to re-address a tenant. Under the Lagos State Rents Act, if the time or period of a lease has been stipulated in an agreement, this lease is determined only by a passage of time and the lessor automatically has the right to issue a 7-day notification of the owner`s intention to recover the premises from the tenant, followed by an action for the recovery of the premises. if the tenant fails to evacuate after seven days. For example, a lease sets rules such as the amount of rent and when the tenant has to pay it. If a tenant violates these rules and the landlord has reasonable reasons, the landlord may have the right to distribute the tenant. Between the rental conditions, there is always a specific or explicit rental agreement. It is governed by current legislation that protects the parties to the rental agreement. The real estate mentioned in the agreement can be storage space, parking, housing, real estate and real estate for businesses. A lease is a relationship between a person and its owner. A lease agreement confers rights on both parties. The predominant factor of a lease is that it is safe for a period usually between one and three years with the renewal option. Any lease longer than three (3) years is considered a lease and not a lease. However, it is important to note that under the Lagos State Tenancy Act 2011, a renter cannot accept rent beyond one year, except for certain designated areas such as Ikoyi, Victoria Island, Apapa and Ikeja GRA.

The framework law for the Lagos State lease is the Lagos State Tenancy Law 2011. The real estate made available as part of the document is often referred to as a rental agreement. It always contains specific rights on real estate. A rental of real estate can answer other questions about rent. Nevertheless, in any standard rental agreement, you can answer the following questions: A rental agreement is a contract widely used by owners who intend to award their property for a period not exceeding 3 years. The rental agreement sets out the terms agreed by both parties during a lease. Lease model in Nigeria. Read also: Example of a dismissal letter in Nigeria to serve your tenants.

But even if no formal written agreement is reached, the Housing Rental Act applies. The agreement should indicate as a minimum the parties, the duration of the lease, the real estate and the amount provided for rent. The landlord is designated as the landlord and the tenant as the tenant. It`s also a very simple part of the lease….

This entry was posted in Uncategorized. Bookmark the permalink.