Breakdown of Total Package Cost

The total package cost is comprised of several key components, which are outlined below:

• Rent: The base rent for the property is ₦3,000,000 (3M), which serves as the foundation for the total package cost.
• Agency Fee: An agency fee of 10% is applied to the base rent, which amounts to ₦300,000. This fee is paid to the agency for their services in facilitating the rental process.
• Legal Fee: A legal fee of 10% is also applied to the base rent, totaling ₦300,000. This fee covers the costs associated with the legal aspects of the rental agreement.
• Caution Deposit: A caution deposit of 10% is required, which is ₦300,000. This deposit serves as a security measure to ensure the tenant's compliance with the terms of the rental agreement.
• Service Charge: An additional service charge of ₦500,000 is applied, which covers various services and amenities provided by the property management.

The Total Package cost is the sum of all these components, which amounts to ₦4,400,000 (4.4M). This comprehensive breakdown provides a clear understanding of the costs involved in the rental process.