Economy Drives More Nigerians to Opt for Single-Room Apartments due to Soaring Costs

As the cost of living continues to rise in Nigeria, the trend of living in a 3-bedroom apartment is becoming less popular. Homeowners have found a way to convert their 3-bedroom apartments to single-room apartments by adding a kitchen and toilet to create privacy for occupants. This conversion has led to an increase in rent revenue for homeowners and a decrease in rent defaults.

Tenants have expressed that this conversion has made rent payments lighter and more affordable, while also providing more comfort compared to the traditional single-room arrangement of old. According to Mr. Fuhad Kareem, a house agent, no client has asked for his services for a three-bedroom apartment since January.

The poor state of the economy has forced some tenants to move away from 3-bedroom apartments to construct wooden houses on their own land. Additionally, the constant increase in rent has forced many individuals to rent mini apartments.

Mrs. Ramota Anifowoshe, a landlady and businesswoman, noted that some of her old tenants owed her up to three years’ rent and some secretly packed out of their apartments without paying rent. To improvise and meet the needs of many, landlords and landladies have had to convert their buildings consisting of three to four bedrooms to a room and parlour or a room self-contained.

According to the new Lagos State Tenancy law on Length of Notice, tenants must be given notice in accordance with the stipulated period of their tenancy agreement. For example, a yearly tenant must receive six months’ notice before the tenancy is terminated.

The poor state of the economy has made it challenging for people to afford standard apartments, leading to the rise in the popularity of mini apartments. However, homeowners have found a way to make the best out of the situation by converting their apartments to suit the needs of their tenants.

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