City Properties Services

City Properties Services We are the largest property market in Nigeria

20/05/2017

We are into general property consultant.

20/05/2017

City Properties Services is repositioning housing needs in Nigeria. Call us today for your housing needs no matter how much you earn.

The Impact of Mobile Technology on Real Estate MarketingOver the years, technology has played a significant role in shap...
26/09/2015

The Impact of Mobile Technology on Real Estate Marketing

Over the years, technology has played a significant role in shaping the way real estate is marketed around the world. The invention of the internet and its subsequent evolutionary growth has quickened the pace of doing business.

According to the Nigerian Telecommunications Sector Summary Q1, 2015 report released by the National Bureau of Statistics (NBS), there are a total of 86.9 million active internet subscribers on the GSM platforms alone. With a national population of over 160 million, this means that one out of every two people in Nigeria has an active mobile internet subscription.

Below are some ways mobile technology has affected real estate marketing:

Faster Delivery of Information
The proliferation of the internet has made the world a global village. With the help of technological gadgets, information is transmitted across the internet to various parts of the world within seconds. Whether making a sale or advertising a brand, the reach of real estate marketing has far surpassed physical boundaries due to the adoption of technology and the internet as potent marketing tools.

Improved Access to Information
With the increasing popularity of mobile applications, information can be accessed on the go even when there is no active internet subscription.

Increased Customer Interaction
With various social media platforms available, real estate companies can get quality feedback from the clients. This keeps their customers happy and more open to do repeat business with them. They can also improve their brand visibility by effectively utilising the huge advertising potentials of these platforms.

Improved Search Efficiency
With increased adoption of mobile technology, web listings are ubiquitous, and consumers are able to access real estate listings more quickly and with more targeted searches than ever before.
Mobile internet, smartphones, and other mobile devices have played a crucial role in making search results more targeted and listings more visible.

Technology has brought sellers, agents and potential buyer closer than ever but real estate still remains a people game, so some legwork is still needed.

Strongly pro-landlord rental marketNigeria luxury houses for sale. Nigerian rental market practice is extremely favorabl...
26/09/2015

Strongly pro-landlord rental market

Nigeria luxury houses for sale. Nigerian rental market practice is extremely favorable to the landlord.

Rent: Rents are freely determined; the Rent Control Law of Lagos is not implemented. Rents are paid well in advance, for two to three years.

Tenant Eviction: Because the court system is cumbersome and expensive, most landlords prefer to evict tenants using an assortment of tricks, phony legal cases, intimidation, locking out tenants or physically throwing them out of the unit.

Rents: Can landlord and tenant freely agree rents in Nigeria?
There are no effective rent controls in Nigeria. Lagos has a “Rent Control of Residential Premises Law” but this is not implemented.

Deposits
Rents are paid, in advance, for two to three years. Some landlords accept advance payments for only one to 1½ years; however, in that case rents are significantly higher.

What rights do landlords and tenants have in Nigeria, especially as to duration of contract, and eviction?
Contracts last for the duration of the advance payment, typically, one to three years. An option to renew with rent adjustment can be included in the contract. If the tenant pre-terminates a contract, no refunds are made. Subleasing can be included in the contract.

How effective is the
Nigerian legal system?
EVICTION FOR NON-PAYMENT OF RENT
Duration until completion of service of process 32
Duration of trial 126
Duration of enforcement 208
Total Days to Evict Tenant 366
Courts: The Lex Mundi Project
Under the 1997 Recovery of Possession Law of Lagos State and the 1991 Recovery of Possession Edict 1991 of Rivers State, only the court can order the eviction of tenants. The court process is slow and cumbersome. Landlords evict tenants using an assortment of tricks, phony legal cases, intimidation, locking out tenants, and physically throwing them of their property.

The State of Lagos offers a Citizens Mediation Centre for resolving landlord and tenant issues. If mediation fails, the parties involved can seek redress in court.

Legislation
The Land Use Act of 1978 covers the use and rental of public lands. The State of Lagos has an un-enforced Rent Control of Residential Premises Law and Recovery of Possession Law. The Rivers State likewise has an unimplemented Recovery of Possession Edict.

20/05/2015

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