TIPS FOR RENTING A GOOD PROPERTY IN ABUJA, NIGERIA (AS A MIDDLE - CLASSER) PART 1

As time evolves, property rental transactions are becoming increasingly problematic, for many reasons ranging from demand to supply ratio, inflation, greed on the part of landlords and middlemen, lowered income/poverty ratio amongst others. House hunting can also be exhausting.

Abuja, Nigeria's capital city, is a bustling metropolis with a wide range of properties available for rent. As a middle-class person looking to rent a property in Abuja, it can be overwhelming to navigate the market and find a good property that fits your budget, while meeting your conventional needs in a property.

At housetolet.ng, we have taken a look at the look and feel of the town and have come up with these tips to help you make an informed decision:

# 1. Determine Your Budget:

This is about the most important item on the list. Before starting a search for a property, it is important to determine your budget. Your budget should ordinarily be a percentage of what you make, against your total and overall expenditure. Consider your income, expenses, and savings to decide how much you can afford to spend on rent. From an economic standpoint, we would usually recommend that not more than 20% of your income should be allocated towards rent. Did you just laugh? I can tell you did. The current economic realities may dictate otherwise. However, do your best not to allocate more than 30% of your income towards rent. This rule applies whether you pay rent monthly or yearly. For monthly paying tenants, it is a lot easier. If you pay rent yearly, consider setting aside 20 – 30% of your monthly income into an interest yielding account, where you have no access to. It helps to easily meet up with your rent obligation.

# 2. Identify Your Needs

People decide where to live for various reasons ranging from closeness to places of work, worship, family members, health and fitness needs amongst others. Make a list of your priorities when it comes to a rental property vis a vis your budget. Knowing what you need will help you focus your search and find a property that meets your requirements.

# 3. Research Neighborhoods before payment

Abuja has many neighborhoods to choose from, each with its unique character, advantages and disadvantages as well. Research different neighborhoods to find one that fits your lifestyle and budget. Consider factors like proximity to work, schools, places of worship and amenities.

# 4. Work with a Reputable Agent

A reputable real estate agent can help you find a good property and navigate the rental process with so much more ease. Look for agents who are registered with the Nigerian Institution of Estate Surveyors and Valuers (NIESV) and have good reviews from previous clients. Thankfully,  www.housetole.ng is here to be at your service. The hassle with us and every other good agent is much easier. Identify and discard greedy agents.