Rent Agreement Sample In Nigeria

This document is used by a lessor and a tenant for the purpose of renting premises only for residential purposes. It is only used if the term of the lease is less than 3 years. The form filler can indicate what the lessee can or cannot do. For example, if the tenant is required to insure the property against damage to the property, if the tenant may have pets in the property as a pet, etc. In summary, this agreement contains everything to ensure that the parties can set out all their expectations regarding their relationship. A housing rental agreement is an agreement between a lessor (the owner of the property) and the tenant (the person who acquires ownership of the property for rent) that sets out the terms of the contract such as rent, use of the property, agreements between both parties, termination conditions, etc. After completing the form, the tenant must review the agreement and sign two copies of this document. Then the landlord should also sign both copies and deliver one copy to the tenant. Once the rent is paid, the landlord must issue the tenant with a rental receipt (proving the payment of the rent). Similarly, tenants may prefer monthly rents if they need the flexibility to move in the short term.

Other applicable laws are: Registered Land Law, Land Registration Law, Capital Gains Tax Act and the rental laws of different states in Nigeria are applicable to this Agreement. For example, a lease sets rules such as the amount of rent and when the tenant has to pay it. If a tenant violates these rules and the landlord has reasonable reasons, the landlord may have the right to distribute the tenant. Landlords may prefer temporary rentals because they are confident that they will have a secure income for a period of time. In this case, they can budget in the future and ask tenants to pay their annual rent in advance. Down payments like this help homeowners repay loans taken out to support their real estate development activity. Use LawDepot`s template for residential leases to create a custom contract…