Lagos landlords have most of the bargaining power, and the Tenancy Law sets limits on how they use it. Knowing the law protects you as much as your tenant.
What the Tenancy Law requires
The Lagos State Tenancy Law 2011 applies to most of Lagos, but not to Apapa, Ikeja GRA, Ikoyi and Victoria Island. Where it applies:
- Rent in advance from a new tenant is limited: 12 months for a yearly tenant, 6 for a monthly one.
- A receipt for every payment of rent.
- Notice to end a tenancy, of the length the Law sets for the kind of tenancy.
- No self-help eviction: no changing the locks, cutting the power or removing the roof.
Choosing a tenant
Ask for ID, employment and a reference from a previous landlord, and meet them. Use a written tenancy agreement, and give receipts naming the period.
Tenancy agreements Rent receipt template
Agents
Agents find tenants for a fee, usually charged to the tenant. Choose one you can identify, and do not let them collect rent into their own account.
Tax on rent
Rental income is taxable, as personal income through the LIRS for an individual landlord. A company tenant may withhold tax from the rent it pays you; keep the receipts, which count against your bill.
Getting your property back
When a tenant will not pay or leave, the lawful route is through the courts: the correct notice, then a notice of the owner’s intention to recover possession, then proceedings in court. It is slow, but it is the only way that does not expose you to prosecution. A lawyer is worth having.
Many disputes settle faster through mediation; the state’s Citizens’ Mediation Centre handles landlord and tenant disputes.