Property Management Insights

Chief Okonkwo owns eight flats in Ikorodu. For years, his late rent "policy" was a phone call. Some tenants got a week. One got four months because his wife was ill. Another got a stern message on day two because she had annoyed him over a leaking roof.

Mrs Akpan owns six flats in Ikorodu. For three years, her tenant in Flat 4 paid on time every time. Then, last March, the payment date came and went. One week. Two weeks. A month. Her first instinct was to call him and "talk sense into him." Her brother-in-law suggested she simply lock the gate. A neighbour said to remove the roof sheets, and "he will pack by himself."

Mrs Adebayo owns six two-bedroom flats in Ikorodu. For fifteen years, her system was simple: every January, tenants paid a full year upfront; she banked the money, and she did not think about rent again until December.

It is the 3rd of the month. Your rent was due on the 1st. You have already called Mr Adewale twice. The first time, he said, "I'm on it, sir." The second time, the phone rang out.