Business
House-hunting: five tips to finding the best deals on rent
House hunting can be quite an intimidating experience especially in a big town like Lagos, Port-Harcourt, Kaduna and Abuja. Individuals will typically spend between weeks and months before finding a place they like.
Factors such as real-estate agency procedures, availability of preferred accommodation and finances are core factors causing this slow motion in finding the right place to live.
Unfortunately, these are not the only challenges.
Real estate, just like agriculture, is one of the industries that is constantly inflating in price. This means that the availability of accommodation and accommodation fees will continue to grow steeper with time.
How then might one find the best accommodation deals and at cheaper rates?
Optimize the rainy season
The best time to house hunt is during the rainy season. This way, you can tell how a district, town or street in which you’re exploring looks like during the rains.
Look out for potholes, puddles, and signs of flooding in the area. Also, insist to take a close look at the accommodation you’re renting to be sure the house isn’t distressed. Look out also, for broken doors, windows, leaky roofs, and bad floors.
Should a house be located in an area affected by flooding, bad roads, or electricity troubles, flee. Agents will convince you to pay rent for the Titanic if they had to as it is part of their job to find buyers and tenants for properties.
Get a roommate
Remember that two heads are better than one. So if renting a house of your choice is above your budget, share the financial burden by scouting for a roommate.
Some people are terrified and concerned about getting roommates because they are unsure of living with strangers. To address this challenge, ask one or two friends to help you organize an interview for potential roommates. If however, you find this approach too bougie, try putting the word that you’re open to a roommate out there.
If you eventually get a roommate, try familiarizing with them before moving in together to determine how compatible you two really are.
Prior to moving in together, make sure to state the terms and conditions of living together, financial responsibilities and obligations required of the both of you.
Plan a budget
To avoid overspending and stories that touch the heart, make a detailed budget for your accommodation.
This budget should not only include the rent money, but other expenditures such as; agent fees (some agents in Lagos charge about N5000 per property to inspect), legal fee, caution fee, and transportation costs through your house haunting period.
By planning a detailed budget, you are eliminating every occurance of wasting money on surprise expenditure.
Use trusted agencies and agents
While there are reputable real estate agencies and agents out there, there are a few bad eggs among them. In order to avoid being ‘scammed’, conduct thorough research before using an agency or agent.
The safer option to researching, is asking people you trust for referrals. This way, the agent or agency, can be easily traced by people close to you.
Also, make sure to thoroughly verify a person claiming to be a landlord before paying your rent to them.
Always house hunt with a trusted pal
Again, we’re reminded that two heads are better than one. The stress of house hunting can take a toll on your taste. Hence, it is advisable to let a trusted friend accompany you on your quest.
With your friend being present, it’d most likely be difficult for agents, agencies or landlords to cheat you. Next time you’re house haunting, ask a friend to tag along even if you have to bribe them!
Business
Nigeria’s GDP rate grew by 3.46% in Q3 2024, says NBS
The National Bureau of Statistics (NBS) says Nigeria’s annual gross domestic product (GDP) grew by 3.46 percent in the third quarter (Q3) of 2024.
The NBS, in its GDP report published on Monday, said the growth rate is higher than the 3.19 percent recorded in Q2 2024.
Business
Dangote refinery reduces ex-depot price of petrol to N970 for oil marketers
The Dangote Petroleum Refinery has announced a reduction in its ex-depot price of premium motor spirit (PMS), also known as petrol, to N970 per litre for oil marketers.
This is a cut from the refinery’s N990 ex-depot price announced earlier this month, according to a statement on Sunday.
The slash would help marketers save about N20 on each litre of petrol bought from the Lekki-based plant.
Anthony Chiejina, Dangote Group’s chief branding and communications officer, said the move is the refinery’s way of appreciating Nigerians “for their unwavering support in making the refinery a dream come true”.
“In addition, this is to thank the government for their support as this will complement the measures put in place to encourage domestic enterprise for our collective well-being,” the statement reads.
“While the refinery would not compromise on the quality of its petroleum products, we assure you of best quality products that are environmentally friendly and sustainable.
“We are determined to keep ramping up production to meet and surpass our domestic fuel consumption; thus, dispelling any fear of a shortfall in supply.”
Business
Allegation of missing fund untrue, says Access Bank
Access Bank Limited has dismissed as untrue allegations of missing fund and unethical behaviour.
The Bank in a statement said: “Our attention has been drawn to a video on social media wherein allegations of missing funds and unethical behaviour have been made against Access Bank PLC.
“First and foremost, we wish to emphasise that the safety and security of our customers’ funds are core priorities which we take seriously. Second, Access Bank Plc does not engage in or condone any unethical behaviour.
“In the instant case, the allegations of missing funds in the Bank are most untrue and baseless.
“There is no N500million or any other fund or amount missing from the subject customer’s account or from any other customer’s account with us.
“We and other independent stakeholders in the banking industry have thoroughly investigated these allegations and independently arrived at the same conclusions.
“Access Bank PLC operates with the highest ethical standards, and we protect our customers’ interests whilst also respecting privacy laws.
“Consequently, whilst we have engaged and will continue to engage with our customers, we must advise the public not to rely on or believe sensational and unverified claims that are designed to titillate and mislead the public.
“We remain committed to serving our customers.”
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