Property Due Diligence in Nigeria: A Checklist for Buyers
Buying property without proper due diligence is one of the costliest mistakes a buyer can make. This checklist covers what to verify before you commit.
Few relationships generate as many avoidable disputes as those between landlords and tenants. In Lagos, the Tenancy Law of Lagos State provides the legal framework that governs many of these relationships — setting out the rights and obligations of both sides and the proper procedures for recovering possession. Understanding it protects landlords and tenants alike.
The Tenancy Law applies to most of Lagos State, though certain areas are expressly excluded from parts of it. The first practical question in any tenancy matter is therefore whether, and how, the law applies to the particular property. Getting this wrong at the outset can derail an otherwise straightforward case.
The law addresses how rent may be demanded and received. Among other things, it restricts a landlord from demanding or receiving rent in excess of certain periods in advance at the commencement or renewal of a tenancy. Both sides benefit from documenting rent, receipts and the agreed term clearly.
One of the most important aspects of the law is procedure. A landlord who wishes to recover possession generally must serve the correct notices, for the correct periods, in the correct form:
Attempting to evict a tenant by force, locking them out or removing their belongings is unlawful. Possession must be recovered through the courts.
The law also sets out duties. Tenants are expected to pay rent, use the premises responsibly and not cause damage; landlords are expected to respect the tenant's quiet enjoyment and to follow due process. A clear, written tenancy agreement that reflects the law reduces friction on both sides.
Whether you are letting a property or renting one, the safest approach is to put the arrangement in writing, keep proper records, and follow the statutory procedures precisely when a tenancy comes to an end. Because the details and any amendments matter, parties should confirm the current requirements for their specific situation before acting.
Buying property without proper due diligence is one of the costliest mistakes a buyer can make. This checklist covers what to verify before you commit.
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