Tips for Renting Out Your Lagos Property Successfully

Renting out property in Lagos can be a reliable source of income — but only if you approach it correctly. Many landlords make avoidable mistakes that lead to extended vacancies, problem tenants, or below-market rents. Here are the key steps to getting it right.

1. Present the Property Well

Tenants in Lagos have plenty of choice. A property that is clean, well-maintained, and freshly painted will always attract more enquiries — and better tenants — than one that looks neglected. Before listing, carry out a thorough clean, fix minor defects, repaint scuffed or stained walls, and ensure all plumbing and electrics are working.

2. Set a Market-Based Asking Rent

Search for comparable properties in your area on PropertyPro, NPC, or Jiji to understand what similar units are renting for. Overpricing your property by even 15–20% above market can mean it sits vacant for months. Your agent should be able to provide evidence-based rental guidance.

3. Decide: Annual Let or Shortlet?

For properties in accessible areas of Lagos with reliable power, the shortlet route can generate 3–5x the annual rental income. However, it requires more active management, regular cleaning, and marketing. Annual letting is simpler and more passive. Consider your capacity for management when making this decision.

4. Screen Tenants Carefully

A bad tenant is far more expensive than a vacant property. Ask for:

• Proof of employment or business income
• Bank statements (3–6 months)
• A personal guarantor with verifiable details
• Reference from previous landlord
• Valid government ID

5. Use a Proper Tenancy Agreement

Have a solicitor draft a tenancy agreement that complies with the Lagos Tenancy Law 2011. This protects both parties and clearly establishes obligations, rent terms, notice periods, and grounds for termination. A verbal agreement is not enforceable.

6. Collect Rent by Bank Transfer

Always collect rent by bank transfer — never cash. This gives you a clear paper trail in the event of any dispute. Issue signed receipts for every payment.

7. Use a Professional Agent

An experienced agent will find you a good tenant faster, handle the paperwork correctly, and advise you on pricing. The agent's commission (typically 10% of annual rent) is well worth paying for the peace of mind and reduced vacancy period it provides.

Amuwo Properties Solutions offers full letting services across Amuwo-Odofin and Lagos State. Contact us to list your property today.