Tenancy Laws, Multiple Taxation And Residential House Rents In Lagos
This study was carried out to examine tenancy laws, multiple taxation and residential house rents in Ikeja Local Government, Lagos State. Specifically, the study examined the effect of tenancy law on residential house rent in Lagos State. The study also, examine the effect of multiple taxation on residential house rent in Lagos State. And lastly, To identify other factors that determines residential house rent in Lagos State. The study employed the survey descriptive research design. A total of 60 responses were validated from the survey. From the responses obtained and analyzed, the findings revealed that Effect of multiple taxation may stifle the development of new houses. The study also found that the effect of multiple taxation may lead to maintenance of existing stock and lead shortage of homes.
Furthermore, It will lead in the increases construction costs. lastly, One of the factors that determine residential house rent is Location as Location is definitely the first thing that prospective tenants look for. The study recommend that the law has provided ample protection to tenants under the various tenancy and rent control laws. The onus lies on the landlords to be pro-active and diligent in the management of their property. Due attention must be paid to the provisions of the law with regards to statutory notices and the mode of evicting a tenant.
Table of Content
- Title Page
- Table of Content
- List of Tables
- 1.1 Background of the study
- 1.2 Statement of the problem
- 1.3 Objective of the study
- 1.4 Research Questions
- 1.5 Research hypotheses
- 1.6 Significance of the study
- 1.7 Scope of the study
- 1.8 Limitation of the study
Review of Literature
- 2.1 Conceptual Framework
- 2.2 Theoretical Framework
- 3.1 Introduction
- 3.2 Research Design
- 3.3 Population of the study
- 3.4 Sample size determination
- 3.5 Sample size selection technique and procedure
- 3.6 Research Instrument and Administration
- 3.7 Method of data collection
- 3.8 Method of data analysis
- 3.9 Validity of the study
- 3.10 Reliability of the study
- 3.11 Ethical consideration
Data Presentation and Analysis
- 4.1 Data Presentation
- 4.2 Answering Research Questions
- 4.3 Test of Hypotheses
Summary, Conclusion and Recommendation
- 5.1 Summary
- 5.2 Conclusion
- 5.3 Recommendation
1.1 Background to the Study
Lagos State can be described as the Nigeria’s commercial capital, is the country’s most active and most expensive rental market where tenants at its highbrow areas pay expensively for residential apartment while similar apartments in the low-mid income areas go for amount. Apart from high demand and low supply, there are other factors responsible for this high rent and, according to Akinlade (2014), the Lagos Tenancy Law and multiple taxation are driving up house rents in Lagos. Recognizing that Lagos is home to over 21 million people, with housing posing a major challenge to the huge population, the state government in August 2011 enacted the Tenancy Law which prescribes one year rent for a new tenant and six months for a sitting tenant.
Akinlade (2014) explained that the single year rent payment law has discouraged investment in homes for rent and has pushed rent to new level, adding that, presently, landlords collect two years’ rent for one year in many locations in Lagos. He explained further that developers, through multiple taxation, were made to pay for land, planning and approval, environment, council and taxes. Access to land through government allocation is a battleground for money bags in Lagos. Planning approval takes forever, yet the government says it will take one to two months.
The Federal Government’s housing policies has not contributed enough for developers in that access to credit from banks was near-impossible for developers and developers that are lucky to receive loan offers must find over 150 percent security for the bank to hold; 25 percent interest rate on bank loans which is a killer for any developer’s business plan (Collins, 2003).
Other reasons for the high rent to include sale of Federal Government’s land in Lagos, high exchange rate to import building material, highly priced local building material, high fuel costs showing itself through transportation costs and generators, high labour costs, and inadequate design to maximize land space.
Lagos has seen 30 years of mass housing gap, because since after Lateef Jakande governed Lagos from 1979 to 1983, there has been no mass housing for rent. Jakande was the last governor of the state that successfully implemented and delivered mass housing policies for rent. For 30 years, successive governments ignored this need of Lagos residents. Jakande also commissioned a report on homes shortage in Nigeria, as at 2010, estimated at 16 million and projected to reach 20 million by 2020.
According to Affe (2008), it is fair to the citizens that government discharge its responsibilities to the people and give meaningful life to the citizens. This underscores the point why Land Use Charge was introduced by Lagos State Government to raise revenue for maintaining existing infrastructure and provide new ones. It is in line with this that the researcher is examining the effect of tenancy law and multiple taxation of residential house rent in Lagos State.
1.2 Statement of the Problem
Lagos State is steadily emerging a multi-nuclei metropolis giving rise to a number of real estate submarkets. Notwithstanding, residential house rent has been abnormally high especially in the normally adjudged as more juicy in some neighborhoods such as Ikoyi, Victoria Island, Lekki-axis, Ikeja, Apapa, Isale Eko and Amuwo Odofin. However, researchers are of the opinion that the skyrocketed residential house rent in Lagos State is occasioned by several factors including the tenancy law introduced by the Lagos State government and multiple taxation. This study is examining the effect of tenancy law and multiple taxation on residential house rent in Lagos State.
1.3 Objectives of the Study
The following are the objectives of this study:
- To examine the effect of tenancy law on residential house rent in Lagos State.
- To examine the effect of multiple taxation on residential house rent in Lagos State.
- To identify other factors that determine residential house rent in Lagos State.
1.4 Research Questions
- What are the effects of tenancy law on residential house rent in Lagos State?
- What are the effects of multiple taxation on residential house rent in Lagos State?
- What are the factors that determine residential house rent in Lagos State?
HO: Tenancy law and multiple taxation does not influence residential house rent in Lagos State.
HA: Tenancy law and multiple taxation does influence residential house rent in Lagos State.
1.6 Significance of the Study
The following are the significance of this study:
- Findings from this study will educate the general public on how tenancy law and multiple taxation has affected residential house rent in Lagos State. It will also be a guide for policy makers and the government of Lagos State on how to checkmate the issue related to individuals or corporate body paying two or more types of tax at the same time.
- This research will also serve as a resource base to other scholars and researchers interested in carrying out further research in this field subsequently, if applied will go to an extent to provide new explanation to the topic
1.7 Scope / Limitations of the Study
This study will cover the tenancy law of lagos state and all the issues of multiple taxation with a view of identifying their influence of residential house rent.
1.8 Limitation of Study
Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).
The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on the time devoted for the research work.
Summary, Conclusion and Recommendation
In this study, our focus was to examine tenancy laws, multiple taxation and residential house rents using residents of Ikeja local government as a case study. The study specifically was aimed at highlighting the effect of tenancy law on residential house rent in Lagos State. examine the effect of multiple taxation on residential house rent in Lagos State. To identify other factors that determines residential house rent in Lagos State. A total of 60 responses were validated from the enrolled participants where all respondent are drawn from residents of Ikeja
Based on the finding of this study, the following conclusions were made:
- Effect of multiple taxation may stifle the development of new houses
- The effect of multiple taxation may lead to maintenance of existing stock and lead shortage of homes.
- It will lead in the increases construction costs
- One of the factors that determine residential house rent is Location as Location is definitely the first thing that prospective tenants look for.
- Another factor is Security as It is important that a tenant feels safe and secure in a rental property
Based on the responses obtained, the researcher proffers the following recommendations:
- As it stands, the law has provided ample protection to tenants under the various tenancy and rent control laws. The onus lies on the landlords to be pro-active and diligent in the management of their property. Due attention must be paid to the provisions of the law with regards to statutory notices and the mode of evicting a tenant.
- The legislatures are enjoined to make laws clear and unambiguous as the Rent Control and Recovery of Residential Premises Law of the various states is enjoined to take positive step like the Lagos State Tenancy Law which has put in view the status of a licensee not to be seen as a tenant under the law. Where the law has removed a license from being called a tenant as the Lagos law has done, the law should be clear on the status of such tenant to help advance the law governing the relationship of landlord and tenant.
How To Get The Complete Material For Tenancy Laws, Multiple Taxation And Residential House Rents In Lagos
The Complete Material Will Be Sent to You in Just 2 Steps
Quick & Simple…
Make Payment (Through Transfer) of ₦3,000 to Any of the Account Below
|Acc No: 0811003731|
|Acc No: 1225513212|
Or CLICK HERE To Pay With Debit Card
|FOR CLIENTS OUTSIDE NIGERIA|
|CLICK HERE To Purchase Material ($15)|
|FOR GHANIAN CLIENTS|
|Make Payment of 80 GHS to 0553978005 | Douglas Osabutey | MTN MoMo|
Send the Following Details on WhatsApp ( 08143831497) After Payment
- Payment Details
- Email Address
- Tenancy Laws, Multiple Taxation And Residential House Rents In Lagos
The Complete Material Will Be Sent To Your Email Address After Receiving Your Details
T & C Apply