Tenancy Agreement Template In Nigeria

Between the rental conditions, there is always a specific or explicit rental agreement. It is governed by current legislation that protects the parties to the rental agreement. The real estate mentioned in the agreement can be storage space, parking, housing, real estate and real estate for businesses. It is also a very simple part of the lease. The property provided for the lease includes all real estate, apartments, house, business office, parking, vehicle or storage unit. It includes not only a bedroom, but also common areas of the property, such as a cellar, attic, laundry room, balconies, swimming pool, roof terrace. A lease is a contract widely used by owners who intend to allocate their property for a period not exceeding 3 years. The rental agreement sets out the terms agreed by both parties during a lease. It`s remarkable that one of the most important things about a rental agreement is that it usually follows with a set time, which eliminates the need to re-address a tenant. Under the Lagos State Rents Act, if the time or period of a lease has been stipulated in an agreement, this lease is determined only by a passage of time and the lessor automatically has the right to issue a 7-day notification of the owner`s intention to recover the premises from the tenant, followed by an action for the recovery of the premises.

if the tenant fails to evacuate after seven days. The concept of lease is widespread in Nigeria, it is reported that 85 percent of the population of the Nigerian city lived in rental housing in 2010 and in 2010, a large part of their income was for rent.