Lagos Rent: The Real Cost of Moving In
You see a fine mini-flat online for ₦800,000. You have ₦850,000 in your account. You are ready to move, right? Wrong.
In Lagos, the "Rent" is just the beginning. If you don't budget for the extra non-refundable fees, you go chop breakfast.
The Usual Suspects
- Agency Fee: Usually 10% or 20% paid to the agent who showed you the house.
- Legal/Agreement Fee: Another 10% for the "Lawyer" to print a standard tenancy agreement.
- Caution Fee: Reliable damage deposit (that you might never see again).
- Service Charge: For security, generator, and cleaning.
Before you commit to that ₦800k house, check the Total Package.
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