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Topic: House rents frustrating while solutions are ignored (Read 422 times)

full member
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The government doesn't have much say in setting a limit for the landlords to obey as regards a certain standard of rent to be collected from students seeking accomodations. It has to do with the environment, because where students live has always been a place where business thrives because it is thought that students spend a wholesome lot on feeding and housing inorder to be comfortable enough to study well and graduate without any extra year.
We hoped for more promising results and fight to achieve them. There's always room for development, we should attain to risks and also acknowledge the fact that there's always room for backup for our top plan. House rent have been a major setback for most people in the system. This is mainly a challenge for those having difficulties to fixed a stable paying job. They will have to strive more harder because it's mainly for the unique cause.
sr. member
Activity: 1316
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 I understand that the economic crisis and constant increase in dollar rate has made the price of goods, commodities, including house rents to rise, but I do not understand why the houses built since the 1990 cost such amount, I think some landlord are really taking advantage of the whole situation and it's very unfair atleast for a student area, a one room apartment should be around 80-100k and not 130k which I think I very expensive for some students, especially those who are funding their education. Well I don't think sleeping in the classroom or under bridges for survival is not a good idea due to the risk factor concerning that, there are other options like renting hotel spaces or pairing with friends for some time till they're able to afford their own rent. Well,  the government would had a played a good role in tackling this situation, cause if they implement a law for landlords to stop unnecessary hike in house rents I think it would stand but then we are in a country where majority of our government officials are not concerned about the well being of their citizens but rather on unnecessary project through which they would  loot public funds with.
sr. member
Activity: 1288
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The government doesn't have much say in setting a limit for the landlords to obey as regards a certain standard of rent to be collected from students seeking accomodations. It has to do with the environment, because where students live has always been a place where business thrives because it is thought that students spend a wholesome lot on feeding and housing inorder to be comfortable enough to study well and graduate without any extra year.

Well, you are right but that doesn't mean the landlords are going to cut their heads up because they are students, some people believe that students are always rich, that they make money either from their parents or anyone but we don't really know what they are really passing through before they will get the money, so they should try as much as possible to make things easier and better for the students because they can be thinking of house rents, school fees including feeding at same time, that is why some go into illegal activities just to make sure they don't drop out from school, so while provision of foods are being made, despite not for free, we should also make things easier and affordable for them too.
sr. member
Activity: 434
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My State of residence has been one of the most expensive cost of living states in the country (Nigeria).
I am making this thread after been overwhelmed about how students are being frustrated over high cost of house rents.

Imagine houses built between 2018-2023 where a single rooms rent is placed @ #130K which the rent fee is evaluated according to the nature of the economy and the cost of building materials which would be extremely expensive and houses built between 1990s-2017 charging its house same 1 single rooms at same rates at #130K even when the houses were build when the economy was kindly impressing comparing to today's.
    
I learnt about lot of students having the schools environment for their homes and the classroom desks for the mattresses simply because they can't afford even a single room for a rent.
A lot of them are able to have that one single rented room (s) only if they are partnered (roommate) while some others are struggled before they can have their own private living rented apartments.

We all knows the nature of single rooms and its inconveniences, how do we imagine such rented below #130k per year excluding sub fees and lavys.
This has got a lot of people taking the streets and the bridges as mansions Worth living due to the inabilities to the hike cost of rent and has also sent lot of masses who lives in the cities and rural areas back to villages where most of them has lost hope to lives and carriers supposed to be encouraged when in the cities has been buried beneath the foots.

This state of accomodations rent fees has left lots frustrated.
Last night I was on some significant reasoning with my friend on how possible the government can put an end to this increasingly house rentage following the economical inflations on its basis.

Solution opinion to the situation
The government could play and help minimize this hiking rents issues simply my issuing mandatory orders on every landlords and give them a specific range of charges they are expected to rent their house and anyone violating the rules must be penalized and every landlords must issues rentage receipts to every of its tenants because the amount stated in the receipt would be used to justify any of the reported landlords if overcharging their house occupants and there should be an active functioning phone number that is to be reached and report any forms of the landlords.

I think the cautioned of governments authorities to the landlords would help this nature of situations.

Op your solutions are not bad but such solutions can only see the light of the day if we have wise government that listen to plight of the people, normally house is not suppose to be a problem to the populace, Nigerian government knows this already but unfortunately we have a government that support this miscreant called landlords.

The government can solve this problem by embarking on mass building, though it shouldn't be free but it should be subsidized to help individuals that cannot afford this outrageous increment of rent by landlords, if this is been done you will see that the house rent will decrease by itself, more people will go for the government building and individual house will not be given attention by persons that are in need of house to rent again.

Let's not expect this to happen because the government are humans like us, they also own buildings and most of this buildings are in dilapidated state so do you expect them to put up policies to help the masses and lose money, Africans with black brains can never think of such solution that will affect them indirectly that's the height of selfishness in humans, my advise is for us to hustle in other to own house no matter how small it is so that we won't suffer this anymore.

In the aspect students suffering house rent increase, the school authority should be blamed because the have all it take to build more hostels not their usual hostels, I mean the hostel like a big room with toilet and kitchen that can contain 3persons with a lower payments but if a student decided to live off camp then any accused expenses should be personal, I think with this idea we can achieve a milestone from their.
jr. member
Activity: 151
Merit: 4
My brothers is not easy at all,but God will not shame us ,in this 2024 the house I stay normal selfcon I pay 100k per year,it was really frautated sha,the landlord call us for a meeting that he want to increase his rent from 100k to 130k ,people shouted at him ,that where did he want us to get money, though some people has agreed to pay while others want to go ,in this case this landlord is not even concern that salary of workers still remain the same way it is, asurming the FG increase the minimum wage that would have been better off but every where is just hard and the landlord are still increasing their rent ,it's quite unfortunate that things happens like this in this country but is not what everyone has to tight their mined on us ,we ask the landlord why is he increasing the rent he said things are very costly when he has not even put anything in the house,in this case now we are all living in frustration because the major issus to increase workers salary has never been done.
We call the government to really help us to atlest increase workers salary so to match in our rent ,am also urging the Minister of labour and works to handle this matter so that the workers salary and minimum wage should be increased
full member
Activity: 560
Merit: 161
OP, what you said is actually good, but the question is, with the way the Nigerian government is piloted and on top of how things are going on in the country, do you think that the cost of house rent is the top problem the government should be looking at? It's not as if it's something they should ignore either. I understand how important it is too, because some people can't afford those rent dues, but the truth is that the government will not look in that direction now. Those men in power are people who I see as only (roughly 60%) doing things for their personal interests and not minding the turmoil that society is facing. If you ask me, I will say that they can't control the house rent issues now.
You know in this country people take advantage of everything..the reason why house rent is increasing is because of how the cost of building materials are going high, this is why some landlords have decided to increase the rent of their house. The only thing for the government to help us in the is to make the cost of building materials to increase, because by the time you spend enough money in building a house you would want to the price of the rent high to meet up the money spent for the house.
full member
Activity: 490
Merit: 209
I do not see how this could help as the government has nothing to do with such matters arising, too many other relevant things they have to tackle that will help this country. We all know how the cost of building materials and accessories has increased over the years and considering the amount of money used to erect a building, starting from purchasing the land (Land inflates over the years), Cement(times three of the price over the years) etc... Considering all this you don't expect afther spending such amount of money, then with the hardship in the country you expect them to keep the price as of then. Everybody wants to make profits from there investments and that of erecting a house for the sole of rentage is worth making profits.

The only way the government can be of help is to reduce the cost of goods and services in the country and make the currency(Naira) worth something better.
The cost of materials are getting expensive is one of the biggest challenges people they face because people like dangote are busy making money and the government is suppose to give regulation to all this people but government no send anybody and even has government wan help for housing matter them still they build low quality houses. Opposite my house see estate government say them they build the thing self no make sence at all, people no gree buy because first of all people done open eyes and them get taste. Even rent matter now house they expensive go every day like water,  and has the nation they develop na so every thing they follow am develop in price,  plus people wey get old stock, everybody they sell their thing high because they wan make more money.  The same thing we they talk, if the government fit help us they regulate price of commodity for this country we go fit they breath because now everything no funny again.

hero member
Activity: 882
Merit: 654
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We all know the situation of the country now, it is not about accommodation alone, it is in all facets of life in the country. When it comes to inflation, it has ripple effects, though the sizable effect varies depending on the sector we are talking about. This is why you can't entirely blame the landlords now, you are talking about house rent increase, do you know how much they sell building materials in the country now? I was shocked the last time I inquired about the tipper load of some sands and granites, not to talk of iron, blocks, cement and others. Everything is so costly, so it is unfair to blame anybody as it is now. No thanks to Buhari and Emefilele, this evil we experience now was avoidable, but they chose to enslave Nigerians due to their reckless policies and insensitivity. I fear the worst might happen, and that is the price Nigerians must pay for letting the undeserving people rule them due to popularity, and not capability.

As for the house rent itself, your calling of N130,000 means that your state is not as expensive as you claimed, especially in student areas, it is far worse in many states now. Even in rural areas like the Oye-Ekiti where the Federal University (FUOYE) is located, students are paying N250,000 for a self-contained apartment depending on the grade of the house. I expect this to get worse because of the economic situation of the country, and the more the USD rate gets higher, the worse it will become because Nigeria is more of a consuming nation. Importation is one of our issues, so it is badly affecting our economy aside from the local issues we have in addition. But I will not agree with you that because a house was built at an older time, it should now be downgraded for the new ones. If the house is quality enough and worth it, why not? There are old houses that are better than the new ones, so you do not use the time of building to judge. There is also a need for valuation of the house, and you might be surprised at times if it is more valuable than the new ones. In addition, houses will always be subjected to economics, the market reality of the day is what they will judge it with, and not the market reality of when the house was built. This will even make more sense if the house has been regularly overhauled and being upgraded gradually to the better state of a recent competition. Also, demand and supply will continue to play their role in the sector, and if the demand is too much, there is no way the price of the house will not skyrocket. It is normal.

Lastly, the government cannot always poke its nose in everything as many of you widely expect. It can't force a sector of an economy on what they must do when another sector of the economy is affecting what that sector you said the government should force. This is a chain reaction, and the only solution is to tackle it from the source/beginning, or else, nothing can be done. Such will even discourage investors' confidence and people will stop building homes for rent if it doesn't pay them again, and that will even cause worse issues. Mind you, Nigeria is more of a capitalist system, though mixed, yet the private sector's freedom is much, the government doesn't have so much say in this regard as this kind of system allows individual to determine their price and business. The government may just intervene or regulate minimally through meetings and advice where applicable, but can't force anything on any sector. The best they can do is through social intervention by building more houses (more supply) to naturally crash the price.
hero member
Activity: 1148
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The house rent hike is very alarming in Port Harcourt and I know if this continues this way, there will be collapse in the Estate business. It is not everyone that has the ability to pay such ridiculously high rents. In few years time, there will be alot of houses that no one will rent and this will be a problem.

It is just a matter of time. Agents and lawyers are culprits and not only landlords.


Solution opinion to the situation
The government could play and help minimize this hiking rents issues simply my issuing mandatory orders on every landlords and give them a specific range of charges they are expected to rent their house and anyone violating the rules must be penalized and every landlords must issues rentage receipts to every of its tenants because the amount stated in the receipt would be used to justify any of the reported landlords if overcharging their house occupants and there should be an active functioning phone number that is to be reached and report any forms of the landlords.

I think the cautioned of governments authorities to the landlords would help this nature of situations.
This solution is not viable. This will only work if the government helped the landlords to build the house. If the government didn't contribute, they therefore has no right to interfere. The best that government can do is to build houses and rent them out in a cheaper rate.
full member
Activity: 434
Merit: 100
Indeed the housing sector in Nigeria is really challenging. Despite the inflation, many landlords have gone on to increase the rent. I can't blame them as most of them actually depend on collecting rent as their means of surviving. As a student, the best thing you can do is find a way to make more money while lowering your spending habit. It's hard but that's your best bet to avoid getting homeless. As someone said, there's no point in relying on the government as they have shown time and time again they do not care about the masses and rise in poverty.
newbie
Activity: 42
Merit: 0
Solution you proffer isn't going to cut it as government did not have any power on Landlords and that's why they have kept quiet and shying away from addressing these rent issues.
Everything we do in this country we do it on our own as government has left their responsibilities to some few greedy folks that are making money off it.
If you build in Lagos, which is the most frustrating place to build, permits alone is killing not to talk of stress involved.

Nothing is properly regulated in this country from the sand and gravel, look at the price of cement that most of its ingredients are locally sourced in the country to house fittings. To do roofing alone not matter how small runs into hundreds of thousands and mind you the water for the house will equally be provided by Landlord so how will government intervene?
Is just about buying and selling and to be honest Landlords are always at the receiving end.

To build good, modern 1room apartment now, stand alone apartment for illustration purpose, you will need nothing less than 800k(conservatively) and this same landlord will rent it out says 130k/annum which means it will take him more than 6years to recover his sweat which is not good business but not bothered as he knows that housing is a long term investment.
full member
Activity: 350
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House rent in Nigeria is one of the cheapest in the world if compared especially to the western world. The amount mentioned at 130k is less than 200 dollars for a room in a year, Imagine. The cost of building the same house is high and owners are not likely to breakeven on the investement in 30 years, so my conclusion is the purchasing capacity of Nigerians in low. Let everyone including students have abillity to work even just 5 hours daily and earn 50k in a month, it wont be difficult to pay the 130k at the end of the year.
Just as you think Nigerians house rent is the cheapest in the World, so the currency naira (#) is the cheapest in values.
You evaluated #130K to $200, according to you, #130K is cheap but how possible and flexible is it to be obtained of achieved for the common.
The cost of house rent is not the cheapest in the world; what proof does he have? In the US, some people pay $3500 monthly, not yearly, for rent, and that is a lot of money there because most people do not earn much more there. And this is because of the location—let me say Texas or Kentucky. If you want to live in the heart of a state like New York, California, or Miami, Florida, you will be paying way more for rent.

Generally, house rents are calculated based on the location you are leaving. In Nigeria, the cost of rent in Port Harcourt, Lagos, and Abuja is different from other places. I have lived in these places, and that is why I am using them as instances. If you live in a place with strong security, steady electricity, and a well-structured environment,. Your rent will be higher compared to those places lacking all these essentials. Just like in Lagos, Main Land and Island are totally different in rent prices.
sr. member
Activity: 308
Merit: 256
I do not see how this could help as the government has nothing to do with such matters arising, too many other relevant things they have to tackle that will help this country. We all know how the cost of building materials and accessories has increased over the years and considering the amount of money used to erect a building, starting from purchasing the land (Land inflates over the years), Cement(times three of the price over the years) etc... Considering all this you don't expect afther spending such amount of money, then with the hardship in the country you expect them to keep the price as of then. Everybody wants to make profits from there investments and that of erecting a house for the sole of rentage is worth making profits.

The only way the government can be of help is to reduce the cost of goods and services in the country and make the currency(Naira) worth something better.
Na true sha, house rent fees no concern government, the issue is if government go help the economy I believe say difference go dey, but some buildings with low quality go still dey charge high fee for what, even if na modern building I for understand because the expenses to build house this season cost. The issue with high rent fees dey common for community wey school dey. For me this is pure wickedness and over smartness, because student dey the community na why house rent fee go increase.

Even if they want profit not with this kind of high fee, if na matter of profit everyone wants profit, everyone wants to earn high but make the over smartness of earning no affect people wey no fit afford high standard of living
 in as much as currupt the country is let the change you want start with you, how can a house built years back have same rentage value.
Thou government intervention or sanctioning either directly or indirectly will be of good help.
sr. member
Activity: 490
Merit: 325
Alright, I'm going to drop my bombshell and opinion on the matter.

What you need to understand is that the cost of living is not something new to everyone, it is not as it use to be in the past 5 years, we know that the economy has been on declined and due to some changes of the government and when a country is trying to transform, there is no doubt everybody will feel the pain, nobody will be left out, that's said.

The purchasing power of the Nigerian currency is nothing new anymore. I remember back in the days when a million naira use to be a big thing, anytime people say they just make their first millions, everyone around you will celebrate with you and be happy for you to.ise that money wisely into another business but today, what happen? People see a million naira as nothing, the youngs ones partied it away like it's nothing and that's shows you how the economy is been affected across all angles.

The increase of housing and estates are not different from what is happening in the economy. Landlords build houses as investment and they depends on this yearly rents from tenants to make a living, feed their families, send children to schools, pay bills and sort out other things of life. They don't have choice than to increase their own bills of housing because what they are buying at x amount has 3x amount today, despite that I know it's as a result of greed, I don't blame them much but the government.

Solution opinion to the situation
The government could play and help minimize this hiking rents issues simply my issuing mandatory orders on every landlords and give them a specific range of charges they are expected to rent their house and anyone violating the rules must be penalized and every landlords must issues rentage receipts to every of its tenants because the amount stated in the receipt would be used to justify any of the reported landlords if overcharging their house occupants and there should be an active functioning phone number that is to be reached and report any forms of the landlords.

I think the cautioned of governments authorities to the landlords would help this nature of situations.

Your solution is funny because will the government feed the landlords? Are they going to help them pay bills and pay for education of their children when that's there only place to do the basic things the government has failed to establish.

Let's the government fix the economy, this will adjust own it's own because people will not be willing to pay for high amount when they know it doesn't worth it in a good economy.
sr. member
Activity: 532
Merit: 263
House rent in Nigeria is one of the cheapest in the world if compared especially to the western world. The amount mentioned at 130k is less than 200 dollars for a room in a year, Imagine. The cost of building the same house is high and owners are not likely to breakeven on the investement in 30 years, so my conclusion is the purchasing capacity of Nigerians in low. Let everyone including students have abillity to work even just 5 hours daily and earn 50k in a month, it wont be difficult to pay the 130k at the end of the year.
Just as you think Nigerians house rent is the cheapest in the World, so the currency naira (#) is the cheapest in values.
You evaluated #130K to $200, according to you, #130K is cheap but how possible and flexible is it to be obtained of achieved for the common and struggling citizens?
Interestingly how you said purchasing capacity in Nigeria is low as compared to that of the Western World @royalfestus, I would love to know.... What is the evaluation rate of the USD and the Naira in an exchange rate including valuabilities of tendering for an exchange of goods and services?
I guess the naira na no capacity purchasing power in both homes and abroads which has perished most of the visitors of Naira to USD exchange.

Please I will be interested to know the daily jobs one of a student can do and gets pay counts by hours just as you mentioned (5hours) because to my best of finding, even non students and graduated students are jobless because there is no job.

I would also love to know this @royalfestus, between the western governments and the Nigerian governments, who is on the better state of concerns and taking responsibilities towards its citizens welfares?

My conclusion is that Nigeria government needs a wakeup thought and be concerned and sticks to the welfares of the citizens and the masses as a whole because the government is just running a blindly, defy and dumby governance carelessly without considering the welfares of the masses.
sr. member
Activity: 532
Merit: 263
This is not the solution to this kind of challenges, firstly i don't think house rent is that unaffordable in Nigeria to that extent except you don't go for your size, this also depends on the kind of location or city you are, even in advance countries, there's no uniformity in house rent pay rate, the only exception are the ones under the government schemes, but each individual has the right to place any amount he feels comfortable with for his rent charges, the landlords built their houses themselves and not the government, so they can make demands on any rate they feel satisfied with.
If you think house rent in Nigeria is such an affordable but only depended on individuals choices, maybe I should say everyone needed that standard live not even the average nor the luxurious and the expensive ones.
You talk about being comfortable at any affordable house rent? You think it is easy coping with life to a mile on a starvation? Or you think it is easy to stay alive and can't afford to eat good nutritious and the healthy foods?
This is something a lot of people a battle with at some point aso how is is expected to afford house rent at the current situations where house rent is such rated?

@Doan9269? As long as I know, consumable commodities and shelter is a most essential need to humans needs.
A lot of people goes through hard times because they are denied of essentials needy that is accompanied with the nature of the national economic regulatory downturns where the common and Poor masses existence seems not valuable to the sights of the governments and so as the conscienceless rich and first class citizens.
So, I literally don't know where you belongs amongst according to your aids of view.

If you think the government is of no right to make demands about the house rent charge fees of the house owners (landlords) simply because the house wasn't built for them by the government, why does the same landlords have to pay tasks to the same governments?
If you have the money to build your own house, why do you require an urban planning approved with some charge of fees being paid as a go ahead order before your projects? Yet the money for the construction (projects) is yours and the land for the project is also yours.

You think the government consents and duties to lives is just to secure lives and properties in a governance? Or you think the governments only has a role to play between the House Owners and the Tenants at only when there is disputes between both parties?
I would insist you grab some sights at the century we are today and how advanced the world had been at all ramifications.
sr. member
Activity: 504
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My State of residence has been one of the most expensive cost of living states in the country (Nigeria).
I am making this thread after been overwhelmed about how students are being frustrated over high cost of house rents.

Solution opinion to the situation
The government could play and help minimize this hiking rents issues simply my issuing mandatory orders on every landlords and give them a specific range of charges they are expected to rent their house and anyone violating the rules must be penalized and every landlords must issues rentage receipts to every of its tenants because the amount stated in the receipt would be used to justify any of the reported landlords if overcharging their house occupants and there should be an active functioning phone number that is to be reached and report any forms of the landlords.

I think the cautioned of governments authorities to the landlords would help this nature of situations.

Op no be small oo, I hear say the price of house rent for some place dey increase, and this thing no good because e go just dey make the cost of living for that area high well well, especially for state like, river state, Lagos Abuja, delta and some other developed state, if you reason am to some extent ehn you no go too blame the landlord Dem, because some of them dey allow deposit based on a monthly basis. Then considering the solution wey you put for ground, to me I go say e no go fit work that wey, because anything wey go concern government to shock body put for landlord house rent matter, na just increase the house rent go increase instead of decrease because, our government instead of Dem to do wattin you talk completely commot body, dem go rather give every landlord tax to pay every year or month. And that kind thing na increase r go just make price increase.
hero member
Activity: 2464
Merit: 519

When you compare house rent in Nigeria with other countries, you also have to compare the difference in minimum wage. The minimum wage in Canada is around $16/hr. In UK around $10/hr. Meanwhile here in Nigeria minimum wage is 30k in naira for a whole month. So our monthly minimum wage is just about 2 hrs wage in Canada.

That is what I addressed if you read through what I wrote carefully. A system that rewards labour adequately should be provided by the government
sr. member
Activity: 532
Merit: 250
Imagine houses built between 2018-2023 where a single rooms rent is placed @ #130K which the rent fee is evaluated according to the nature of the economy and the cost of building materials which would be extremely expensive and houses built between 1990s-2017 charging its house same 1 single rooms at same rates at #130K even when the houses were build when the economy was kindly impressing comparing to today's.
   
I don’t want to support the inconsiderable price hike in rented apartments in the country but when you look at it from another perspective, you’ll be convinced that the price hike was done because of the current situation of the Nigerian economy. If they don’t hike the prices of those houses, where will they get money to continue maintaining the houses for people to rent. Remember if he had bought a roofing sheet for ₦2000 and the same roofing sheet now worth ₦6000, he will have to adjust and spend more to fix one when spoilt. The same applies to every other material needed to maintain the house.

Quote
Solution opinion to the situation
The government could play and help minimize this hiking rents issues simply my issuing mandatory orders on every landlords and give them a specific range of charges they are expected to rent their house and anyone violating the rules must be penalized and every landlords must issues rentage receipts to every of its tenants because the amount stated in the receipt would be used to justify any of the reported landlords if overcharging their house occupants and there should be an active functioning phone number that is to be reached and report any forms of the landlords.

I think the cautioned of governments authorities to the landlords would help this nature of situations.

Yes, the government can play their own part in this and needs to do it for the benefit of its citizens since they are the ones that have caused the hardship to its people. Some landlords just increase their price without checking to see what the value of their house will be, they just follow suit as other members does and this is not a good thing when we look at it. If your house doesn’t worth that much, you shouldn’t be collecting as a house that worth more than yours that have used a more quality material to build the house. If this would be curtailed, we need the involvement of the government to make it happen.
newbie
Activity: 18
Merit: 0
Solution opinion to the situation
The government could play and help minimize this hiking rents issues simply my issuing mandatory orders on every landlords and give them a specific range of charges they are expected to rent their house and anyone violating the rules must be penalized and every landlords must issues rentage receipts to every of its tenants because the amount stated in the receipt would be used to justify any of the reported landlords if overcharging their house occupants and there should be an active functioning phone number that is to be reached and report any forms of the landlords.

This is not the solution to this kind of challenges, firstly i don't think house rent is that unaffordable in Nigeria to that extent except you don't go for your size, this also depends on the kind of location or city you are, even in advance countries, there's no uniformity in house rent pay rate, the only exception are the ones under the government schemes, but each individual has the right to place any amount he feels comfortable with for his rent charges, the landlords built their houses themselves and not the government, so they can make demands on any rate they feel satisfied with.
House rent in Nigeria is one of the cheapest in the world if compared especially to the western world. The amount mentioned at 130k is less than 200 dollars for a room in a year, Imagine. The cost of building the same house is high and owners are not likely to breakeven on the investement in 30 years, so my conclusion is the purchasing capacity of Nigerians in low. Let everyone including students have abillity to work even just 5 hours daily and earn 50k in a month, it wont be difficult to pay the 130k at the end of the year.

When you compare house rent in Nigeria with other countries, you also have to compare the difference in minimum wage. The minimum wage in Canada is around $16/hr. In UK around $10/hr. Meanwhile here in Nigeria minimum wage is 30k in naira for a whole month. So our monthly minimum wage is just about 2 hrs wage in Canada.

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