How to write tenancy agreement in Nigeria?
What is tenancy agreement in Nigeria and how does it work? In this post, you will find out all important peculiarities about how you can write this document and who are the parties that are expected to take action according to this agreement.
What is tenancy agreement?
A lease agreement in Nigeria or simple rental agreement is a so-called contract that is written between a renter and owner of a property. The owner of the property expresses a desire to give his property for temporary possession.
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As the minimum, the agreement should identify the parties, the term of rental, the properties and the amount provided for the rent. The owner is referred to as the lessor and the renter as the lessee.
There is always included or explicit a specific rental contract involved between the terms of the rental. It’s regulated under the current law that protects parties involved in rental agreement. The properties mentioned in the agreement can be storage space, parking slot, housing tenure, real estate and properties for business.
Lease agreement in Nigeria
In the document about the rent, the person who lives in or occupies a property is often called a tenant. At the same time, a person who owns this property and allows the tenant to live there is called a landlord/landlady.
The real estate provided as a part of the document is often called as a lease. It always includes specific rights in real property. A real estate rental may go on the other issues about the rent. Nevertheless, in every sample lease agreement, you can answer the following questions:
Who?
According to the contract, the two parties should be identified. One of the parties is called the lessor/owner/landlord/landlady. This party has exclusive rights as the owner of the property, while the second party is called a lessee or tenant.
A rental always delineates the rights and obligations. For instance, a sub-let to a stranger may not be permitted by a landlord. It also includes whether a lessee may have a pet in the rented property. At the same time, a lessee may also set some rules for the property.
What?
It’s also a very simple part of the lease agreement. The property provided for the lease includes any real estate, apartments, house, business office, parking slot, vehicle or storage unit. It also includes not only a room but shared areas of the property, like a basement, attic, laundry facility, balconies, pool, roof-deck.
The agreement usually includes the terms how these properties can be accessed and regulated. It can be just general rules about usage or specific particular conditions.
When?
This term of the rental may include night, weeks, months or even years. It may require a statutory provision for the registration if the number of rented period extends a specific number of years provided by the law.
Typical rental is provided by the month-to-month period or year-by-year. Do not forget that leaving the long-term lease may result in penalties. If a tenant receives a notice about leaving the property and does not follow this notice, then a landlord starts a procedure of eviction proceeding. It means to eject a person from a property forcibly.
How much?
The rent can be payable weekly, monthly or annually. The payment can be provided in advance. It also includes the security deposit that serves a protection sum for a landlord.
What is included in the standard form of house rental agreement?
- All parties (includes a landlord and tenant).
- Rules regarding the property, like pets, smoking, etc.
- Rules that the tenancy may be passed to anyone.
- Rules that a tenant may or may not have lodgers.
- Rules that define if the tenant may have the right to sublet.
- Rules about the repairs and who is responsible for them.
Rules that may include the ideas if the tenancy may be ended early and under which conditions. It also includes the time period for a tenant, so he/she could leave the property. At the same time, it protects the tenant by giving the exact time to be noticed by the landlord before the eviction procedure.
- Sets up the deposit or any other amount for both parties to be paid.
- Additional charges or penalties agreed by both parties to the agreement.
- Method of payment.
- Amount of the rent and when it should be paid to the landlord.
- Address and name of any letting agent.
- Address and name of the landlord.
- Start and end of the property are renting.
- Address of the rented property.
The tenancy agreement is to be signed by both parties. The tenant is entitled to receive a copy of the document. There are also some parts of the agreement that you will need to pay special attention.
First of all, it’s the condition of the deposit. You will need to find out the exact amount you are ready to pay as deposit. You will also need to clarify the exact conditions when a landlord can claim the deposit. Moreover, do not forget to make some photos of the house you are about to rent. It will serve as proof if there is any discussion about the state of the building.
It’s also necessary to pinpoint the exact conditions about leaving the place. You want to clarify the dates when you can leave and what you may take with you. Furthermore, you will need to consider how a landlord should notify you about leaving the place and how much time he/she should give to you to leave. Consider these questions carefully.
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Source: Legit.ng
