WHY YOU SHOULD INVEST IN IBEJU LEKKI LAGOS NOW!
Dear Smart investor are you aware that Ibeju Lekki Lagos have more investment Prospect than the most expensive and popular Ikoyi, Victoria Island and Lekki Phase one all in Lagos Nigeria?

In the 70's Plot of Land in Ikoyi Sell less than N2million, but today (2017) prices from N300million above.

In the 80's Plot of Land in Victoria Island Sell less than N5million, but today (2017) from N250million above.

In the 90's Plot of Land in Lekki Phase One Sell less than N2million, but today (2017) from N150million above.

NOTE: Smart Investors took advantage and invested even though there wasn't any International projects within these Location and yet they made over 5000% pure profit on their Investments after few years.

Now think of Ibeju Lekki Lagos the Hottest Investments Zone in Africa that is seating multi billion Dollar int'l projects that will skyrocket your Investments, such as:
- Dangote Refinery
- Lekki Free Trade Zone
- Beach Resort Centers
- La Campagne Beach resort
- Int'l Golf Centers
- Lekki Deep Seaport
- Dangote Private Jetty
- Dubai Smart City
- Lekki Epe Int'l Airport etc.

Guess how much a Plot of Land will be selling in Ibeju Lekki in next 5years to 10years? Prices from N50million to N200million per plot...

History is about to repeat itself again, Now is the opportune time to take advantage and Invest into our over 50 Secure Penny Selling Estates with good Land titles.

Visit our Website 👇🏽👇🏽👇🏽👇🏽👇🏽 and make your choice.
Rush now to www.newimpactproperties.com.ng

For Inquiries, Inspections and Professional Advise,

CONTACT Mr Solomon
HOTLINE: 09036755751
WHATSAPP: 07082082033

"DON'T WAIT TO BUY, BUT BUY AND WAIT AS PROPERTY WILL NEVER DEPRECIATE".

Shortcomings of the Lagos State Tenancy Law

FEBRUARY 27, 2017

 

 ArticlesREAL ESTATE ADVICE

 By Aderinsola Jolaosho

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 0 Comments

The Lagos tenancy law is awesome. Yet, it is not without some shortcomings. This is not to say that the law is not of immense benefit to Lagosians. The Lagos Tenancy Bill is filled with some disadvantages in one way or another. These disadvantages have overshadowed the real intent of the law. In the following paragraphs, my disagreement will be shown on moving

I disagree with the Section 1 (3) which exempts some areas like Apapa, Ikeja GRA, Ikoyi and Victoria Island from the law.
I feel it favours only rich in the society since most of them leave in those areas, it creates some sort of segregation between the high and low-class people in the state.

The Section 4 of the tenancy law is a good step to saving tenants from landlords who collect rent in advance often in excess of one year but I don’t think the state is ready for that now because as it is now housing demands exceeds supply. This law would only increase the cost of the lease, making it exorbitant for medium and small income earners as landlords would not want to be at the losing end. Landlords will find it very difficult maintaining their properties thereby resulting into physical, social, functional and economic obsolescence.

Section 10 of the law is a welcome development on accountability of service charge fund, but law fails to allow consequences attributable where a landlord fails to submit this bi-annual account and also the options open to a tenant who is so denied.

The new Law also contains provisions on the settlement of professional fees. A routine practice in tenancy agreements in Lagos is for the tenant to be billed and required to settle the professional fees of the landlord’s agent but Section 11 of the Lagos Tenancy Law now makes it the responsibility of any party who engages the services of a professional in this instance to settle the fees of that professional. The Law once again creates another lacuna by failing to define the word “professional”, thus leaving this section open to manipulation, especially since the Law also uses and defines the word “agent” to describe a person employed by the landlord in letting or leasing the premises. The law is also silent on the consequences facing a landlord who demands this payment from a tenant.

I feel the process in which landlord recovers possessions of his premises is long and time wasting I suggest some processes be removed as part of the life of the property is lost going through all the procedures.