Payment of deposits can be freely accepted. One-month rent deposits are common. Until 1990/91, the relationship between the landlord and the tenant was more or less governed by Rent Regulation 13/1977, which included the construction of rental tables. They strictly regulated the relationship between the landlord and the tenant and were empowered to investigate any complaint, and to consider any request for a rent increase/reduction by any landlord or tenant who had the choice of being represented by a lawyer, lawyer or other representatives. The regulations applied to all leases, whether commercial or residential. The common law is strictly applied as the basis for the interpretation of the agreement between the parties, which may be oral or written. Our courts will not interfere lightly if the terms of a lease are clear, neither against bones more (against good moral standards) or against public order. Law 10 of 2000 provides that 15% of the rent amount is taxable as long as the lessor is taxable, which it must be if he has a turnover of 200,000 N ($25,500) or more per year. All terms of the leases can be freely negotiated between the parties. Issues such as the first rent, whose increase during the duration of the tenancy can be freely agreed by the contracting parties. As a result, the rent regulation has lost its artillery (i.e.
rental tables) and now has very little firepower. The regulations are still in place, but they only apply to commercial premises. The common law, which allows full contractual freedom, is the basis of the relationship between the landlord and the tenant. However, the regulation provided, in section 35 of this regulation, that the regulation provided, however, in section 35 of that regulation, that the provisions of that regulation did not apply to dwellings located in an area for which there was no rental room. After 1990/91, all rent boards ceased to function. Sign up or sign up to make a comment! To promote open and spam-free entertainment, Global Property Guide animates Commetns for all articles. You can expect your comment to be published within 24 hours. The initial duration of the lease and its extension, the use of the premises, the violation, the evacuation, maintenance, insurance, etc., the duration of the contract, can be freely accepted between the parties. One-year leases are common, but leases are often longer or shorter.