Understanding tenant rights and responsibilities in Lagos Property Market

The global rental market is arguably larger than the owner-occupier market. In countries like the United States, nearly 44 million housing units are currently being rented, comprising 34% of the total U.S. households. In the United Kingdom, roughly 35% of households rent.

In Japan, 38.7% of the population rents their homes. In Denmark, 37.3% of the population rents their homes. Interestingly, those are the countries that are considered to have the highest homeownership rate.

In a 2019 study by NOI Polls, more than 51% of Nigerians who were surveyed said they currently live in rented accommodation.