Detailed Cost Breakdown for Property Rental

This document provides a comprehensive breakdown of all associated costs for renting this property. All figures are in Nigerian Naira (₦).

Rental Costs

• Annual Net Rent: ₦4,500,000
• Agency Fee (10% of Annual Rent): ₦450,000 (₦4,500,000 x 0.10)
• Legal Fees (10% of Annual Rent): ₦450,000 (₦4,500,000 x 0.10)
• Annual Service Charge: ₦600,000
• Diesel Deposit (Refundable): ₦800,000
• Caution Deposit (Refundable): ₦300,000

Total Upfront Costs

The total amount required upfront to secure this property is the sum of the agency fee, legal fees, service charge, diesel deposit, and caution deposit.

• Total Upfront Costs: ₦2,600,000 (₦450,000 + ₦450,000 + ₦600,000 + ₦800,000 + ₦300,000)

Important Considerations

Please note that the diesel deposit and caution deposit are refundable upon the expiration of the lease agreement, provided the property is returned in good condition and all terms of the lease are met. It is advisable to obtain written confirmation of these terms from your letting agent and/or landlord.

This cost breakdown is for informational purposes only. Always verify all figures with the relevant parties before committing to a rental agreement.