NewStats: 3,259,771 , 8,170,873 topics. Date: Sunday, 25 May 2025 at 11:54 PM 6e724d

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emmanuelewumi:



That was the agreement signed when they were employed, enterpreneurial and forward thinking employees in a money making company won't spend decades working, you can spend decades in civil service, education or medical sector.

The founders of the courier company worked for a German courier company before 3 of them decided to resign their employment to start their own business. They are currently bigger than their former employer


Tenancy agreements are renewed annually, nothing wrong or illegal if it is not renewed after 5 years.

Redstar Express?

Leezah:
The dividend is small na, person wey dey invest 50k how much dividend does he want to get when he stays in a self contained that cost over 100k

You give yourself a target.

emmanuelewumi:



You give yourself a target.

...

Nigeria is broke and most Nigerians are poor. Our debt is now 98% of our revenue.

People will continue to find it difficult to survive, the people that will bear the consequences of these are landlords

Residential real estate is good if you target the high end market, which is less than 1% of the demand.

Follot:




Real estate investment doesn’t really bring in much it’s just a means of tying cash down for future purposes. Even with 5 houses with investment of 10m minimum on each I still feel broke can’t even boast of 2 m on rents yearly.
That can’t even buy a good suv. I also run maintenance which makes things worst.


Once you get to this level just go into production which is what I am working on now

Most times we forget that aside to tie down cash, that over 75% of properties increase in value.

Put those houses for sale and see for yourself.

emmanuelewumi:


I have asked him thrice, if hit a jackpot of N50 million what percentage would he invest in residential real estate he has refused to answer the question.

Most of them do worst things in their personal businesses.

Don't allow anybody guilty trick you. Those who has no idea about real estate business think you are heartless but without that, you will never recover your capital. My blood brother was in a mess some 3 years ago. He gave his house to one political chieftain children in Umuahia, do you know after paying the first year, those boys stay additional 3 years and left without payment. They even threatened his life. He let go. He had to do some maintainance before renting it out.

There was an old tenant in the same house who left before the lockdown that was owing 5 years rent after staying for 10 years too. Now, he is in EFCC net for theft in his office. This made may brother to get a lawyer. Yes, l it the lawyer is not doing much when it comes to inspecting the facility and having meetings but l don't think owning will be a problem again.

However, l think your lawyer should clearly state in the tenancy agreement that no tenant is allowed to stay above 5 years irrespective. This will help incoming tenants make good decision.

kalu61:
Don't allow anybody guilty trick you. Those who has no idea about real estate business think you are heartless but without that, you will never recover your capital. My blood brother was in a mess some 3 years ago. He gave his house to one political chieftain children in Umuahia, do you know after paying the first years, those boys stay additional 3 years and left without payment. They even threaten his life. He let go. He had to do some maintainance before renting it out.

There was an old tenant in the same house who left before the lockdown that was owing 5 years rent after staying for 10 years too. Now, he is in EFCC net for theft in his office. This made may brother to get a lawyer. Yes, l it the lawyer is not doing much when it comes to inspecting the facility and having meetings but l don't think owning will be a problem again.

However, l think your lawyer should clearly state in the tenancy agreement that no tenant is allowed to stay above 5 years irrespective. This will help incoming tenants make good decision.

The keyword is reasonable and disciplined, very few Nigerian tenants are in this group.

You will enjoy business minded and responsible tenants, who try to increase their income every year through reinvestments.

It is a known fact that the lawyer does not encourage tenancy that is beyond 5 years, that doesn't mean some of the tenants in the properties he is handling have not stayed more than 5 years infact he is handling about 30 properties in the area because of his efficiency .

It is his policy that the boss or employer of the potential tenant must sign as the witness for the tenancy agreement.

Because of his no nonsense attitude, tenants behave and his efficiency is more than 90%.

emmanuelewumi:


It is his policy that the boss or employer of the potential tenant must sign as the witness for the tenancy agreement.

How many employers or bosses will be ready to sign as witness in their employees’ tenancy agreement? How many employees want to involve their bosses or employers in their private matters? This kind thing dey lead to see finish for office na. This your lawyer and all his rules sef. Na so house scarce for Naija? Common man in Naija dey suffer o

Anyway, man know thyself and do whatever makes you sleep well at night

Lazyyouth4u:


How many employers or bosses will be ready to sign as witness in their employees’ tenancy agreement? How many employees want to involve their bosses or employers in their private matters? This kind thing dey lead to see finish for office na. This your lawyer and all his rules sef. Na so house scarce for Naija? Common man in Naija dey suffer o

Anyway, man know thyself and do whatever makes you sleep well at night

Critical problems require critical solutions

emmanuelewumi:


It is his policy that the boss or employer of the potential tenant must sign as the witness for the tenancy agreement.

Please don’t take this the wrong way but from all these rules and policies, I think it shows the caliber of people that you take as tenants.

I just don’t see how you can have tenants that have decent jobs working for multinationals or blue chip companies that will agree to these policies. Such companies won’t even meddle in the private affairs of their employees.

Imagine asking Shell or World Bank to come and sign as witness to staff’s private tenancy agreement or telling a Shell staff that his wife must be working and that he must move after 5 years

Lazyyouth4u:


Please don’t take this the wrong way but from all these rules and policies, I think it shows the caliber of people that you take as tenants.

I just don’t see how you can have tenants that have decent jobs working for multinationals or blue chip companies that will agree to these policies. Such companies won’t even meddle in the private affairs of their employees.

Imagine asking Shell or World Bank to come and sign as witness to staff’s private tenancy agreement

If he is responsible, his colleagues will sign for him or should be able to provide good guarantor


Total work force in the oil and gas sector is less than 150k, what is percentage compared to the over 20 million workers in Nigeria.


High end of the real estate market is a better, but supply is higher than demands

Lazyyouth4u:


Please don’t take this the wrong way but from all these rules and policies, I think it shows the caliber of people that you take as tenants.

I just don’t see how you can have tenants that have decent jobs working for multinationals or blue chip companies that will agree to these policies. Such companies won’t even meddle in the private affairs of their employees.

Imagine asking Shell or World Bank to come and sign as witness to staff’s private tenancy agreement or telling a Shell staff that his wife must be working and that he must move after 5 years

Do you have a property?

emmanuelewumi:





If he is responsible, his colleagues will sign for him or should be able to provide good guarantor

‘It is his policy that the boss or employer of the potential tenant must sign as the witness for the tenancy agreement’

I thought you said boss or employer MUST sign...Colleague and guarantor is a different ball game na. Abi goalpost don dey shift?

Abeg no mind me o. Man know thyself

Lazyyouth4u:


‘It is his policy that the boss or employer of the potential tenant must sign as the witness for the tenancy agreement’

I thought you said boss or employer MUST sign...Colleague and guarantor is a different ball game na. Abi goalpost don dey shift?

Abeg no mind me o. Man know thyself

Employer, boss, trade association is the surest guarantee, if has reputable people that can guarantee and serve as referees, it should fly

NL1960:


Oga Emma, you can do whatever you like with your properties. It is your right. We are all humans. I think a tenant that pays promptly should not be given quit notice just because you want to make more money from a new tenant. You have said this same thing before coupled with saying that a prosoective tenant whose wife is not working cannot rent your property.

You are well respected here and i have been following you since SMN days. I think you should relax some of these your conditions.

Tenants on my street have invested so much into the street in of security, street lights, maintenance, generator for the street light. So imagine after 5 years, a tenant who has been prompt in rent payment is told by a landlord to vacate because he has 5 years principle on his properties. Is that capitalism or cult?.

Leezah:
Na you build house for am, asking him to relax his condition, build your own and come back and say same thing,the way you dey talk, you go be like thise tenant weu no dey like to pay on time.

Did you see where i said 'i think'?. Know the meaning first before you post. Moreover, i have said that it is his property and he is very free to do what he likes with it. Nobody here is forcing him. 5 years is even too long. He should do 3 years. Afterall, he does not rent to anybody whose wife is not working which is also his right to say. As i said, life goes on. For every Oga Emma and yourself that have 5 years, there are others that have more than 5 years. I have spent more than 5 years in where iam staying.

emmanuelewumi:


I have asked him thrice, if hit a jackpot of N50 million what percentage would he invest in residential real estate he has refused to answer the question.

Most of them do worst things in their personal businesses.

And i have said that property is not my thing. It is your thing. So go on and do whatever you like. Some even do 3 years. So you are one of the generous ones.

NL1960:


And i have said that property is not my thing. It is your thing. So go on and do whatever you like. Some even do 3 years. So you are one of the generous ones.

Because it is not profitable, try REITs you should be able to get 10%.

More like a bond that responds to inflation

emmanuelewumi:
The best set of tenants are portfolio investors they have everything planned out, they even make provision for expected rent increase.

Someone hear uses his dividends from UPDC REIT to pay his rent

I was using my TBs interest to pay rent. I pay promptly. You are trying to dodge the issue. You initially started with those that have stayed for 5 years in respective of whether they are prompt in paying or not. Now you have changed to those not paying. Stick to one so that we know what we are discussing. A tenant that owe rent should not even stay more than a year not to talk of 5 years. If we take you up now on the tenant whose wife is not working, you will become defensive and start twisting it.

kalu61:
Don't allow anybody guilty trick you. Those who has no idea about real estate business think you are heartless but without that, you will never recover your capital. My blood brother was in a mess some 3 years ago. He gave his house to one political chieftain children in Umuahia, do you know after paying the first years, those boys stay additional 3 years and left without payment. They even threaten his life. He let go. He had to do some maintainance before renting it out.

There was an old tenant in the same house who left before the lockdown that was owing 5 years rent after staying for 10 years too. Now, he is in EFCC net for theft in his office. This made may brother to get a lawyer. Yes, l it the lawyer is not doing much when it comes to inspecting the facility and having meetings but l don't think owning will be a problem again.

However, l think your lawyer should clearly state in the tenancy agreement that no tenant is allowed to stay above 5 years irrespective. This will help incoming tenants make good decision.

You are missing the point. Go back and read the exchanges. The issue is quitting those that pay promptly after 5 years and not quitting those that refuse to pay. If i many ask, if you are in a rentage, how many years have you spent there?.

NL1960:


I was using my TBs interest to pay rent. I pay promptly. You are trying to dodge the issue. You initially started with those that have stayed for 5 years in respective of whether they are prompt in paying or not. Now you have changed to those not paying. Stick to one so that we know what we are discussing. A tenant that owe rent should not even stay more than a year not to talk of 5 years. If we take you up now on the tenant whose wife is not working, you will become defensive and start twisting it.

90% of Nigeria tenants become problematic after 5 years, 60% become problematic after 2 years

Rent is one of the payments to overlook and allow to pile up

90% of tenants get loans to pay for their rents, while the rent is reading they are paying back the loan instead of saving for the next rent. The is the major reason.

After 5 years, few of them will be reasonable.

Someone who has been using his dividends to pay for rents and the dividends have been increasing over the years won't have a problem making adjustments for inflation for his provision for rents.

Residential real estate is to store value, if you plan to hold for 20 years not to generate good cash flow.

How can a property of N50 million, struggle to give an annual income of N2 million after giving allowance for maintenance, repairs etc.

emmanuelewumi:


90% of Nigeria tenants become problematic after 5 years, 60% become problematic after 2 years

Rent is one of the payments to overlook and allow to pile up

90% of tenants get loans to pay for their rents, while the rent is reading they are paying back the loan instead of saving for the next rent. The is the major reason.

After 5 years, few of them will be reasonable.

Someone who has been using his dividends to pay for rents and the dividends have been increasing over the years won't have a problem making adjustments for inflation for his provision for rents.

Residential real estate is to store value, if you plan to hold for 20 years not to generate good cash flow.

How can a property of N50 million, struggle to give an annual income of N2 million after giving allowance for maintenance, repairs etc.

Forget all the statistics. What’s your source by the way? It looks like you are churning out statistics from thin air to justify your lawyers’ policies.

Any tenant that will owe, will owe. Whether he has a good job or all the dividends in the world. Some tenants with decent steady jobs and no investments still make great tenants.

It’s a thing of luck and God’s grace to find good tenants and when you find them, it makes no sense at all to have policies that state they MUST move after 5 years, no matter what.

emmanuelewumi:


90% of Nigeria tenants become problematic after 5 years, 60% become problematic after 2 years

Rent is one of the payments to overlook and allow to pile up

90% of tenants get loans to pay for their rents, while the rent is reading they are paying back the loan instead of saving for the next rent. The is the major reason.

After 5 years, few of them will be reasonable.

Someone who has been using his dividends to pay for rents and the dividends have been increasing over the years won't have a problem making adjustments for inflation for his provision for rents.

Residential real estate is to store value, if you plan to hold for 20 years not to generate good cash flow.

How can a property of N50 million, struggle to give an annual income of N2 million after giving allowance for maintenance, repairs etc.

No landlord should involve himself in how their tenants invest their money. It is absurd. No landlord should ever state that the spouses of the tenants should be employed in order to avoid gossiping in the house. It makes no sense.

The most important thing to any landlord is the ability of the tenant to pay the rent with no issues. If I as a landlord can find that tenant, I am good to go. Even if he decides to stay for twenty years and has no investments or even if his wife is a lazy slob that stays at home watching Big brother all day

Lazyyouth4u:


‘It is his policy that the boss or employer of the potential tenant must sign as the witness for the tenancy agreement’

I thought you said boss or employer MUST sign...Colleague and guarantor is a different ball game na. Abi goalpost don dey shift?

Abeg no mind me o. Man know thyself

Oga Emma know say he has been cornered on this issue. Na those wen no follow the issue from the beginning dey jump in to am. Very soon, we go resurrect the working wife issue of a tenant. Anyway, na him property. Make he do wetin he wan do with am. Life goes on.

emmanuelewumi:


90% of Nigeria tenants become problematic after 5 years, 60% become problematic after 2 years

Rent is one of the payments to overlook and allow to pile up

90% of tenants get loans to pay for their rents, while the rent is reading they are paying back the loan instead of saving for the next rent. The is the major reason.

After 5 years, few of them will be reasonable.

Someone who has been using his dividends to pay for rents and the dividends have been increasing over the years won't have a problem making adjustments for inflation for his provision for rents.

Residential real estate is to store value, if you plan to hold for 20 years not to generate good cash flow.

How can a property of N50 million, struggle to give an annual income of N2 million after giving allowance for maintenance, repairs etc.

I know. The new ones in where iam staying became problematic after the first rent. Some were given quit notice. Nobody complained. Iam an apostle of people paying rent. It is not easy to build a property for rentage. My issue is grouping those that are good and paying promptly with those that refuse to pay. Isolate and deal accordingly.

emmanuelewumi:


90% of Nigeria tenants become problematic after 5 years, 60% become problematic after 2 years

Rent is one of the payments to overlook and allow to pile up

90% of tenants get loans to pay for their rents, while the rent is reading they are paying back the loan instead of saving for the next rent. The is the major reason.

After 5 years, few of them will be reasonable.

Someone who has been using his dividends to pay for rents and the dividends have been increasing over the years won't have a problem making adjustments for inflation for his provision for rents.

Residential real estate is to store value, if you plan to hold for 20 years not to generate good cash flow.

How can a property of N50 million, struggle to give an annual income of N2 million after giving allowance for maintenance, repairs etc.

Yea. I have an where i put my monthly rent every month. It is a first line charge once i receive a salary. When the rent is due, i either pay the rent from there or use interest from TBs.

Lazyyouth4u:


Forget all the statistics. What’s your source by the way? It looks like you are churning out statistics from thin air to justify your lawyers’ policies.

Any tenant that will owe, will owe. Whether he has a good job or all the dividends in the world. Some tenants with low paying jobs and no investments still make great tenants.

It’s a thing of luck and God’s grace to find good tenants and when you find them, it makes no sense at all to have policies that state they MUST move after 5 years, no matter what.

Caused by poverty in the landlords are not finding easy with residential real estates for income, build students hostels, lease to a school or church, have an event center, shopping complex, warehouse etc

Nigeria currently uses 98% of her revenue to service debts, we are now poorer, getting sustainable and quality tenant that will be up to the task for 10 years with the increasing cost of living is less than 10% that is a fact.

Read somewhere that it is 5% of Nigerian workers that make N3 million per annum. Just imagine, I hope this is not true sha

NL1960:


Yea. I have an where i put my monthly rent every month. It is a first line charge once i receive a salary. When the rent is due, i either pay the rent from there or use interest from TBs.

That is being disciplined and reasonable, how many Nigerians actually have a budget


Someone wants his coupon to be at least twice of his rent and also ploughs back part of his coupon, so that it will continue to increase

Lazyyouth4u:


Forget all the statistics. What’s your source by the way? It looks like you are churning out statistics from thin air to justify your lawyers’ policies.

Any tenant that will owe, will owe. Whether he has a good job or all the dividends in the world. Some tenants with decent steady jobs and no investments still make great tenants.

It’s a thing of luck and God’s grace to find good tenants and when you find them, it makes no sense at all to have policies that state they MUST move after 5 years, no matter what.

Gbam. Those of us that are the first occupants of where iam staying wer always paying promptly. The landlord will just wake up and slam a 40% increase in rent and when you complain that it is too high, he will give quit notice and say those who do not want to pay should pack out. Some people packed out. He brought in new tenants on high rent. Since then, it has been a tug of war with the new tenants because they refused to pay after the first year. If they pay at all, they will be paying in bits. Na so we wen dey pay promptly that he was always threatening just dey laff.

emmanuelewumi:



That is being disciplined and reasonable, how many Nigerians actually have a budget


Someone wants his coupon to be at least twice of his rent and also ploughs back part of his coupon, so that it will continue to increase

[email protected]

On paper Nigeria is broke but the majority of cash held by Nigerian elites and crooks s far more than the reserves on paper.
Some Nigerians hold $2 Billion, $500m, $700m in cash with banks. Most of the funds are from embezzlement, the majority is poor which is what matters.
On the other hand lack of basic, social and infrastructural amenities is what makes Nigeria poor.
There are many countries in the world even the UK where everyone can survive with £5 per day on just food due to the basics is freely available. On no can everyone survives on £5 a day in Nigeria, though people do but it's bottleneck survival.

emmanuelewumi:
Nigeria is broke and most Nigerians are poor. Our debt is now 98% of our revenue.

People will continue to find it difficult to survive, the people that will bear the consequences of these are landlords

Residential real estate is good if you target the high end market, which is less than 1% of the demand.

Good Afternoon ,
Please what is Access Bank Pta /Bta rate?
Thanks