With rising costs and economic pressures, paying rent in Nigeria is proving to be a tightrope walk for many. In a recent discussion on Nigeria Info's Sunny Side, callers painted a picture of a tough economic climate squeezing their pockets, making it hard to keep up with rent payments.
Russell, a caller from Odili Road, underlined skyrocketing prices, with some one-bedroom apartments costing over 1 million naira, burdened further by additional fees. According to him, this financial strain, coupled with a sluggish economy, is leaving many tenants struggling to pay rent on time.
“A lot of other expenses are added like caution fee N50,000, agreement, the agency fee, legal fee, and at the end of the day it’s quite outrageous when you look at the whole thing,” he said.
An anonymous caller offered a different perspective. He believes some tenants just prioritise moving to a new place over paying rent on time, suggesting this could be one reason behind the delays. Landlords, he added, would not be too keen on renewing leases for such tenants.
Another caller brought budgeting into the mix. He suggested that delayed rent payments might be a sign of poor financial planning. He proposed a proactive approach, where tenants prioritise rent and manage their finances effectively to avoid last-minute scrambles.
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