Understanding rent: what you pay upfront and why

In many Nigerian cities, rent is advertised per year but landlords often ask for it in one payment, along with several other charges. Knowing the names of these charges makes it easier to compare homes and to negotiate.

• Rent: the amount for the period you are paying for, commonly a year in advance for long lets.
• Caution or security deposit: money held against damage, normally to be returned at the end of the tenancy if the property is in good order. Ask in writing when and how it is returned.
• Agency fee: paid to an agent who found the property. It is a commercial arrangement, so ask what it covers and get it in writing.
• Legal or agreement fee: the cost of preparing the tenancy agreement.
• Service charge: shared costs such as security, waste, estate maintenance, and sometimes water or generator fuel.

The rules about how much advance rent can be demanded differ by state. In Lagos, for example, the Tenancy Law sets limits, so check the current rules for the state you are in, and ask a lawyer if a demand seems unusual.

Questions that save money later

• Can the rent be paid in instalments, and is there any extra charge for that?
• What increases are allowed during the tenancy, and with how much notice?
• Who is responsible for repairs, and how are they reported?
• What happens to the deposit if I leave early?

Some properties on iLIVV state whether instalments are offered. Use that as a starting point, then confirm everything in writing before you pay.