A property technology platform, Rent Small-Small, says eight of 10 residents in Lagos prefer to pay their house rent on a monthly basis.
Its Co-founder/Chief Executive Officer, Mr Tunde Balogun, who made this known in a statement on Tuesday in Lagos, said this was an outcome of a survey conducted in Lagos.
Balogun said that the survey polled 1,389 adults, of which 851 were youths between the age of 20 years and 40 years working-class professionals.
According to him, they are seeking to occupy one or two bedrooms and studio apartments, asked about their renting pattern and preferences.
Balogun said: “It is not surprising that many will not like to continue the cycle of annual rent payments.
“This is due to financial pressures ranging from raising quarterly school fees to footing basic bills that families experience in Nigeria.
“Naturally, it is easy to assume that Nigerians will like to pay their rents upfront for one or two years in some cases.
Source: Vanguard Newspaper