Taking A Sublease In Nigeria – Things To Note

Are you interested in taking a sublease in Nigeria? In our previous posts, we discussed the documents you need to keep as well as what things your tenancy agreement should cover in respect of fixtures and fittings. In this post, we’ll be discussing important details you need to take cognizance of when taking a sublease in Nigeria either as a landlord or tenant.

But, before we go into these details, when we talk about taking a sublease in Nigeria, what do we mean exactly? Let’s explore this first.

What Is A Sub-Lease?

Usually, a sublease is an agreement whereby a landlord grants part of the unexpired residue in his term to the tenant. Typically, this is for a 3-year and above period.

5 Things To Note When Taking A Sublease In Nigeria

The things to take note of are mostly in the form of covenants made between parties to the sublease.

Research Nigerian Laws

It is vital to research national and local laws relevant and applicable to property leasing in Nigeria.

Conduct thorough research on the national and local laws that govern property leasing in Nigeria. Regulations can vary by state, so knowing the specific rules applicable to your location is crucial.

Sub-letting

If you would want to sub-let your term to another person during the pendency of your term, it is advisable to settle this by agreement before finalizing the sublease with your landlord. Landlords should also ensure that there is clarity on this before concluding the sublease.

Repairs

Property damage is somewhat inevitable. Parties should agree on who assumes responsibility for damages to fixtures or fittings in the property.

Rent Review

To avoid needless tussles over rent prices in due course, you should insert a rent review clause in your agreement. That way, parties know the implications and compliance is more secure. Note that the rent review clauses must also comply with the relevant laws as applicable to leases and sub-leases in Nigeria.

Insurance

  • It is ideal to ensure you insure your property. However, the question is who bears the costs of insurance, the landlord or the tenant? This should be clarified and defined in the agreement.
  • Importantly, the details to be taken note of when taking or granting a sublease are quite exhaustive and must be tailored to reflect your circumstances. The aforementioned points as well as others as may be communicated to you by your legal advisors must be taken note of whenever you are involved in a sublease.

References

PrivateProperty, “Subletting Your House; 13 Questions to Guide You” available at https://www.privateproperty.com.ng/news/subletting-your-house/#:~:text=If%20you%20are%20fortunate%20to,she%20has%20to%20approve%20it accessed on September 20, 2023

Propsult, ”Subletting Your Apartment in Nigeria Essential Things to Know” available at https://www.propsult.com/blog/things-you-should-know-before-subletting-your-apartment-in-nigeria/ accessed on September 20, 2023

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