Increment Of House Rents: All Commercial Landlords In Nigeria Should Note This – FG

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Considering how the outbreak of Covid-19 has hindered the progress of different sectors in the country this year, there is no doubt that there will be changes in various aspects of the economy as Vice President Yemi Osinbajo had earlier said that the challenges posed by the COVID-19 pandemic had presented an unprecedented opportunity for Nigeria to reset critical sectors of its economy.

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All landlords should consider making favourable changes in the aspect of house rent. Seeing the condition of citizens amid Covid-19, landlords should never think of house rent increment at this time; instead, they should consider reducing house rent this year.

In sync with this, landlords should understand that the whole population is facing a drop in income earnings as a result of how Covid-19 has affected the Nigerian economy.

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Landlords should understand that as the Federal government lifted lockdown and enforced a curfew on citizens for over three months, many have been at home without any source of income. How then will they cope with the payment of increased house rents?

All landlords of commercial houses in Nigeria should consider reducing house rents this year. If you agree with this, kindly type ‘accepted’ in the comment section below.

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