A rental agreement is a legally binding contract between a landlord and a tenant that outlines the terms and conditions of a property rental. It serves as a crucial document to ensure clarity and prevent disputes. Here are the essential components and considerations that should be included in a comprehensive rental agreement: 1. Specificity on Abandonment The rental agreement...
Deciding to sell your home is a significant decision that involves many considerations, including whether to use a real estate agent or attempt to sell it on your own. While it might seem like a good way to save on commission fees, selling your home without professional help can lead to numerous pitfalls. Here’s a comprehensive look at some of the challenges and risks associated with...
A major concern for Real Estate professionals is personal safety. Many times you're working alone in showing a property or having an open house. Some personal safety precautions should include: On the first meeting of a client, have them meet you at the office. Get as much personal information as possible. If you have a strange feeling about the client, don’t show property by...
While "green" has become quite the buzzword when it comes to home building and design, what exactly it means isn't always clear. There are a few standards for eco-friendly homes, but the term "green" doesn't have a universal definition beyond being a color made by mixing yellow and blue. So how does a consumer know when a home the builder is calling "green" is actually built with an...
The Lagos State Real Estate Regulatory Authority (LASRERA) has called for greater collaboration with stakeholders to check fraud and malpractices in the real estate sector. The Special Adviser to the Governor on Housing, Ms Barakat Odunuga-Bakare, who spoke ahead of its 5th Lagos Real Estate Market Place Conference and Exhibitions, which Governor Babajide Sanwo-Olu will host, emphasised...
The Royal Institution of Chartered Surveyors (RICS) Nigeria Group has elected Tayo Odunsi, former Chief Executive Officer of Northcourt Real Estate as its new chairman. The 60-year-old institution draws membership from built environment professionals such as estate surveyors and valuers, quantity surveyors, land surveyors, and project managers. Founded over 150 years ago in the United...
The Building Collapse Prevention Guild has recommended establishing construction laws to tackle building collapses in the country. A partner with the engineering unit at Consol Associates Ltd, Aderonke Oyelami, made the call during a BCPG Ikoyi-Obalende Cell event in Lagos recently. The presentation, titled “Ikoyi in Transition: From Highbrow Residential Scheme to Mixed...
In a bid to tackle Nigeria’s severe housing deficit and stimulate long-term economic growth, the Federal Executive Council (FEC) has approved N250 billion real estate investment fund aimed at providing affordable, long-term mortgages to Nigerians. The initiative was announced by the Minister of Finance, Wale Edun, on Thursday after a FEC meeting presided over by President Bola...
One of the new buzz words in real estate is "rightsizing". Rightsizing is about finding the right size home for where you are in your life - people are searching for the perfect space for their needs. This concept not only applies to your search for personal space, it's also a concept that is being applied to building and city planning. With an aging population, increasing density...
Lagos, often referred to as the commercial hub of Nigeria, is a vibrant city with a bustling real estate market. From the high-end properties in Ikoyi and Victoria Island to the more affordable neighborhoods in the mainland, Lagos offers a diverse range of real estate opportunities. But how well do you really know Lagos real estate? Let's explore some key aspects that define this...