Cutting cost: Economy drives more people into single-room apartments

Forum 1 year ago

Cutting cost: Economy drives more people into single-room apartments

Before the turn of economic hardship in Nigeria, living in a 3-bedroom apartment used to be the trend.

Even the average salary earner did anything to live in such an apartment because it gives space and privacy.

But as the cost of living rises, the rent value for 3-bedroom apartments soared and average wage earners could no longer afford them.

However, Economy&Lifestyle has discovered that homeowners have also found a way around the problem.

They now convert their 3-bedrooms to single-bedroom apartments, adding a kitchen and toilet to create privacy for occupants.

Homeowners say they make more money from their apartments this way, even as rent defaults have reduced.

Tenants say it has eased the burden and made rent payments lighter, even as it gives more comfort, compared to the original single-room arrangement of the old, where many people shared kitchens, toilets and bathrooms.

Mr Ibitoye Akinwale, a house owner in Iyana-Isashi said: “Three years ago, I had built this particular area into a three-bedroom flat each. But the occupants were unable to meet up with the payment of the bills and rent.

“I complained bitterly to a friend of mine in Surulere who was also a landlord.

“He was the one who advised me to convert the apartment to self-contained. I had to serve the tenants and then quit notices.

“I spent quite a sum to do this. I even converted the first building of my duplex to a single-room self-contained apartment.

“Before I finished, people had started renting them.

“Now, Nobody owes me a dime because they can afford N350,000 rent per year compared to a 3-bedroom apartment which now goes for about N800,000 to N1.2 million annually depending on the area.

“Before I did the conversion, the former tenants were paying N750,000 for a three-bedroom apartment and I was about to increase it to N850,000 before I found out that my tenants didn’t have the capacity to foot such bills.”

Mr Fuhad Kareem, a house agent, noted that since January, no client has asked for his services for a three-bedroom apartment.

“All the houses that people have been looking for are mini self-contained apartments. Few will say they want a room and parlour.

“Since the beginning of this year, no client has asked me for a three-bedroom apartment in this area or other areas.

“This has made landlords convert their buildings consisting of three to four bedrooms to a room and parlour or a room self-contained.

“If they don’t, the houses will be there without occupants.

“The poor state of the economy has even gone to the extent where some tenants have moved away from 3-bedroom apartments to construct wooden houses in their own lands.

“This happens when landlords increase rents. While some move to smaller and more affordable apartments, others move into empty lands and construct wooden houses. It has come to that and it is very unfortunate.

“People are suffering; things are expensive and salaries are not increasing.

“This has made many to cut down on their ways of spending and it has also found its way into the housing sector,” he added.

Mrs. Ramota Anifowoshe, a landlady and businesswoman, said some of her old tenants were owing her up to three years’ rent, while some secretly packed out of the apartments without paying rent.

“The country is not smiling. Things are very hard. I have a nine-bedroom apartment along the Egbeda axis.

“Three of my tenants left with three years rent coupled with unpaid bills.

“The apartments were vacant as every client brought in was demanding a room or room and parlour self contain.

“It was then I now had to convert them to a room self-contained.

“My tenants now pay their money and bills in due time and I can now use my money for meaningful things.

“Survival, especially in a city like Lagos is not easy.

“We landlords and landladies have to improvise to meet the needs of many.”

On his part, Mr Ayeni Joshua, an Uber driver complained that the constant increase in rent has forced many including him to go for mini apartments.

“Renting standard apartments in Lagos is hotcake now.

I was living in a four-bedroom flat in Lanre and was paying N800,000. One day, the caretaker of the house just sent a message that the rent has been increased to N900,000, after spending three years knowing that my rent will expire in two months’ time.

“I just returned from Dubai with nothing as all my efforts there were thwarted when the Dubai government refused to give Nigerians visas.

“I ended up getting a room and parlour self-contained with N250,000. It is not easy.”

Section 12 of the new Lagos State Tenancy law on Length of Notice stated:”Where there is no stipulation as to the notice to be given by either party to determine the tenancy, the following shall apply a week’s notice for a tenant at will;

“One (1) month’s notice for a monthly tenant; three (3) months’ notice for a quarterly tenant; three (3) months’ notice for a half-yearly tenant; and six (6) months’ notice for a yearly tenant.”