House Rent Hike: Ilorin residents relocate to low cost area

Date: 2017-02-23

It is the beginning of the year again when most tenants pay house rent. It is the season landlords look out for to exploit those whom they lease out their properties to.

But, with the harsh economic situation, which has raised cost of living, many tenants are finding it difficult to pay cut throat house rents, increased astronomically by property owners.

Many tenants have therefore opted to cut their cloth according to their size. Thus, the hike in house rent by landlords has forced many residents of Ilorin, the Kwara State capital to relocate to low cost areas, National Pilot can report.

Findings by this medium shows that one bedroom apartment (self-contain), which was let out for N40,000 now go for between N70,000 and N120,000 per annum, two bedroom flat which used to be N120 is now rented out for between N150,000 and N200,000 yearly, while rent for three bedroom flat is between the range of N250,000 to N500,000 depending on the location.

It was also observed that tenants who could not afford the rent in Government Reserved Area (GRA), Tanke, Taiwo, Fate, Pipeline, Adewole, Unity areas have started moving out to places like Eiyenkorin, Ganmo, Afon junction, Airport road, Kulende, Oyun among others.

For a civil servant, Abdulakeem Olasunkanmi , he was forced to move to a low cost area in the state when the hike in house rent became unbearable. "I had to relocate from Pipeline area to Obanisuwa, Airport road when I could no longer pay rent for the two bedroom flat in my former house.

"I was paying N150, 000 per annum for rent in my former two bedroom flat but the landlord gave a notice of an increase. This made me to relocate, now I live in two bedroom flat for N100,000 per annum," he explained.

He added that his brother-in-law recently moved from Tanke area to Osere axis where house rent is cheaper.

A commercial motorcyclist, Mr. James last week relocated from Taiwo road where he rented a two-room apartment in to Afon Road in Enyinkorin area.

"I had to take the decision to cut cost of living. I couldn't cope with the house rent given my meagre income. I used to pay N10,000 monthly for two-room apartment, but now pay N6,000 monthly fee for same accommodation size in my new area," he said.

A businessman, Alhaji Muhammad Farooq, who was residing in GRA until late last year, relocated to Asa Dam area as a result of high cost of accommodation in that area.

He told this medium that he paid N250,000 pet annum for a three bedroom apartment at GRA but now pays N180,000 for same three bedroom flat in Asa Dam. For newly wedded, Mr. Yusuf Damilola, his dream of starting his new home in GRA was dashed by the high rent, which forced him to take up accommodation in Gbagba, Airport area.

"The financial pressure on most families and coming at a time when salaries of both public and private sector workers are no longer paid as and when due, makes the experience more excruciating," he lamented.

Reacting to the development, the Chairman of Estate Rent Commission Agent Association of Nigeria (ERCAAN), Chief Yomi Babatunde, said “the hike in rent can be attributed to the influx of people into the metropolis.

"Peaceful environment has attracted investors from other states into the city. This has brought about population upsurge resulting to competition. He explained, that house rent is dependant on the value of the property and location.

"For instance, there are houses in Tanke and GRA worth about N500,000 and more. The fitting of any house determines the value as well as the location. For instance, you should not expect rent of a three bedroom flat in GRA to be same as that of Pakata area.

Yomi stressed that the cost of rents in Ilorin now is a clear indication of growth in the state compared to decades in the past. On the issue of extortion by landlords, he disclosed that the association would consult the state House of Assembly to formulate guidelines for accommodation in the state.

The chairman equally debunked the speculation that lawyers have taken over their activities, adding that members live above board in the discharge of their responsibilities.

He reiterated that the association will continue to partner with security agencies and other stakeholders to curb sharp practices.

Source

 

 


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