Rising house rents in Ibadan: A growing concern for residents
Some tenants, house agents and landlords have expressed concern over rising house rents in Ibadan, the Oyo State capital, calling on the government to intervene.
The respondents, while speaking with the newsmen in separate interviews on Thursday, shared their experiences and likely solutions to the situation.
NAN reports that the high rent situation is becoming a significant concern, affecting both individuals and families seeking affordable accommodation.
The surge in house rents is attributed to several factors, including the growing population, increased demand for housing, and rising costs of living.
Landlords and property owners are adjusting their rental fees to keep up with the economic changes, leaving many tenants struggling to meet the new financial demands.
For instance, the rent for a room and parlour apartment in Kuola, off Akala Expressway, is N910,000 per annum as the total package.
The total package is broken down as Rent: N600,000, Service charge: N60,000, Agreement: N60,000, Damages: N60,000, Form: N10,000, Agency fee: N120,000, adding up to N910,000.
A resident of a newly built apartment in Kuola, David Adegboro, said most of the outrageous rents were not determined by the landlords but by the house agents.
“These agents will disguise like they have good intentions, meanwhile, they are, the whole time, planning on ways to extort you.
“Also, the landlords know the agents are going to mention outrageous amounts to people as rents, but they won’t caution or stop them because they don’t care, as long as they receive their money.
“I think the only way this can be managed is for landlords and agents to agree on reasonable and affordable rents,” he said.
Another resident in the same area, Fuad Adediji, said he was devastated and overwhelmed by the inflated rents, especially as they kept increasing in the past few months.
“I understand that things are increasing, leading to increment in other factors, but rents shouldn’t be over the top. They are extreme and ridiculous!
“I wish to plead on behalf of everyone to the Federal Government to pass a bill or do something to restrict agents or landlords from setting rents beyond certain limits,” Adediji said.
NAN reports that in areas like Progressive Estate, after 7up, Oluyole, a room and parlour apartment with modern facilities goes for N500,000, as rent but N800,000, as the total package.
Also, in places like Akala Estate, Akobo, a room self-contained apartment with modern facilities is N500,000 with a total package of N700,000.
In the Ologuneru area of Ibadan, a room and parlour apartment goes for N500,000 with a total package of N750,000.
In the same area, a room self-contained annual rent is N400,000 with a total package of N620,000.
A passerby, who preferred to be anonymous, described the rent situation in Ibadan as frustrating.
He said, “It’s really frustrating as only a few can cope with the situation. What’s going to happen to the rest of the people who can’t?
“This ends up leaving people homeless; more and more people are sleeping on the streets because they can’t even afford the minimum anymore.
“Fuel is now N950 per litre and one paint bucket of rice is now N3,500; these prices are already outrageous enough, so house rents shouldn’t add to the situation.
“I hope there’s a better way to curb this problem because it’s a fast-growing issue. I pray that everyone survives the recession.”
Meanwhile, a housing agent, Opeyemi Ajayi, ascribing the soaring rents to the inflation in the economy, called on house seekers and tenants to understand and cope with the situation.
“Personally, due to the increase in everything in Nigeria, such as cement and every other material to build a house, rent is obviously going to increase.
“I feel the rents are fair enough because everyone just wants to make a living. However, this does not mean that other agents should go overboard making it extremely expensive.
“The only way it can be managed is if there’s a massive reduction in prices of everything, otherwise, rents are only going to keep increasing.
“I just hope the government can help with this inflation because it’s unbearable for everyone,” Ajayi said.
A landlord in Kuola area, Femi Clinton, said he wouldn’t blame landlords for demanding high rents because building materials won’t stop increasing.
“People often ask me why rents keep rising. Well, it’s because things keep getting expensive. There’s nothing we can do except to increase rents, if not, we’re going to run at a loss.
“Even now, the income is almost not as much as it used to be. So, there’s nothing anybody can do. If you can’t afford it, you find a cheaper place.
“Rents will, definitely, reduce once the economy gets better, otherwise, people should brace up,” he said.
