Saturday 7 October 2023

10 Considerations to Make Before Paying for a New Apartment



On 7th October 2023, a single mother and software developer named Omotayo Omoba shared her shocking experience when she arrived at a new apartment she had paid for only to discover that she would have to share the kitchen and toilet with tenants from an adjoining apartment. This was not what she had agreed upon with the agent and landlord when she traveled from Ijebu-Ode to Lagos. Despite paying the necessary fees, including the agency fee and inspection fee, she did not get what she expected.

Another tenant, Mrs. Chika Onu, had a similar experience when she moved to a compound in Port Harcourt. She was unaware that the building opposite hers was a prayer house, and the noise from the prayers disrupted her sleep. These are just a few examples of tenants who faced difficulties after moving into new apartments.

To avoid such problems, here are nine things to consider before moving into a new apartment:

1. Prepare your budget: It is crucial to consider all the expenses involved, including rent, agency and agreement fees, and caution deposit, to ensure you don't make any mistakes or get cheated.

2. Ask questions about the apartment: Conduct proper due diligence by asking questions about the apartment's history, verifying the property owner(s), and checking if there are any ongoing litigations or government takeovers.

3. Security: Prioritize the security of the area before deciding to move in. Check the crime rate online and gather information from residents and business owners in the vicinity.

4. Are structural alterations allowed? Inquire whether the landlord permits any structural adjustments or renovations in the apartment. Some landlords may have restrictions on modifications.

5. Check rent review pattern: Understand the rent review pattern of the apartment. Enquire about the frequency of rent increases to avoid unexpected hikes in the future.

6. Confirm outstanding utility bills: Find out if there are any unpaid utility bills associated with the property, such as electricity bills. Clearing these bills is essential to prevent inheriting someone else's debt.

7. Accessibility: Assess the accessibility of the apartment, especially during the rainy season. Inspect the roads leading to the apartment to ensure they are not impassable.

8. Conduct physical inspection: Relying solely on pictures and videos is not sufficient. Visit the apartment in person to assess its condition, both interior and exterior, and verify that it matches your expectations.

9. Landlord's personality: Gather information about the landlord's behavior and attitude towards tenants. Interact with existing tenants, the agent, or neighbors to gain insights into the landlord's reputation.

10. Involve a lawyer: It is advisable to seek legal assistance before finalizing the rental agreement. Hiring a lawyer can help review the tenancy agreement, identify any potential issues, and provide clarity on the terms and conditions.

By considering these factors, prospective tenants can make informed decisions and avoid unpleasant surprises when moving into a new apartment.

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