Tips for Lagos Residents to Reduce Apartment Rent Costs

Residents of Lagos are increasingly seeking methods to lower their housing expenses without relocating. One effective strategy is sharing apartments with flatmates, which allows multiple individuals to split the annual rent and associated costs.

For instance, an apartment costing ₦3.6 million annually, with additional expenses of ₦600,000, totals ₦4.2 million. If shared among three residents, each would pay approximately ₦1.4 million per year, resulting in savings of about ₦400,000 compared to living alone.

The Lagos State Tenancy Law 2011 is crucial for these arrangements, stating that tenants cannot assign or sublet any part of the premises without the landlord's written consent. This law does not apply to certain areas, including Ikoyi, Ikeja GRA, Victoria Island, and Apapa, necessitating residents to verify applicable legal provisions.

Flatsharing can also involve joining an existing tenant with an empty room, provided the landlord approves the arrangement.