Calfat Projects LTD

01/10/2025

Calfat Projects Ltd (RC 984248) is a fully registered company based in Osogbo, offering comprehensive services in property management, real estate, building construction, and interior decoration.
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‎Driven by our extensive expertise, we are reaching out to landlords and clients who seek a reliable and professional partner. We are committed to addressing the challenges faced by the people of Osun State, especially the issue of unreasonable fees and practices in the rental market.
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‎We offer transparency and professionalism, and we invite landlords, land owners, and clients to collaborate with us in raising industry standards and providing trustworthy services to the community.

23/05/2025

Distress Sale
3bedroom flat on Half plot of Land for sale at Bada Ayobo Lagos.
Document Receipt n survey
15m

Calfat Projects LTD
08072373780

23/05/2025

BREAKING NEWS!
The Lagos State Tenancy Law has been updated to better protect tenants and regulate landlord practices. Here are the key provisions:

1. Advance Rent Restrictions

Landlords are prohibited from demanding more than three (3) months' rent in advance from sitting tenants. Similarly, tenants are not allowed to pay more than three months' rent upfront. Violations can result in fines up to ₦100,000 or imprisonment for up to three months.

2. Mandatory Rent Receipts

Landlords must issue rent payment receipts to tenants, detailing the payment date, names of both parties, property location, amount paid, and the rental period covered. Failure to provide a receipt can lead to a ₦10,000 fine.

3. Tenancy Agreement Fee Cap

The Lagos State Government has reaffirmed that tenancy agreement fees should not exceed 10% of the annual rent. Landlords and agents charging above this limit are in violation of the law.

4. Notice Periods for Termination

In the absence of a written agreement, the law stipulates the following notice periods:

One week's notice for a weekly tenant

One month's notice for a monthly tenant

Three months' notice for a quarterly or half-yearly tenant

Six months' notice for a yearly tenant

If a monthly tenant is in arrears for three months, the landlord may seek possession through the courts.

5. Tenant Rights

Tenants are entitled to:

Reasonable privacy

Freedom from unreasonable disturbance

Exclusive possession of the premises

Use of common areas for lawful purposes

Additionally, tenants who make improvements with the landlord's written consent may claim compensation if the tenancy is terminated.

6. Dispute Resolution

Tenancy disputes can be addressed in either the High Court or Magistrates’ Court within the relevant jurisdiction.

7. Prohibition of Unlawful Evictions

Landlords must not evict tenants without following due legal process. Self-help evictions are prohibited and can result in legal penalties.

For further details or to report violations, tenants can contact the Lagos State Real Estate Regulatory Authority (LASRERA). The Lagos State Government's position is that the total charge for legal and agreement fees combined should not exceed 10% of the annual rent.

Example:

If the annual rent is ₦1,000,000:

Total charge for both legal and agreement fees together should be ₦100,000 or less.

This means legal = 5% and agreement = 5%, or any other breakdown, as long as the total does not exceed 10%.

Anything above this is considered illegal under the Lagos Tenancy Law.

If you need a formal reference or want to lodge a complaint, you can contact LASRERA (Lagos State Real Estate Regulatory Authority).

22/05/2025

With The People's Parliament – I just got recognized as one of their top fans! 🎉

06/04/2025

Who prepare tenancy agreement in Nigeria?

In Nigeria, a tenancy agreement (or lease agreement) is typically prepared by the following parties, depending on the context and legal requirements:

1. Landlord or Property Owner
- The landlord usually drafts the agreement, especially for simple residential rentals. They may use standard templates or customize terms based on their preferences .
- Some landlords create agreements without legal assistance, but this risks overlooking key legal clauses.

2. Real Estate Agent or Property Manager
- If the landlord engages an agent or property management company, the agent often prepares the agreement on their behalf .
- Agents ensure the document aligns with local tenancy laws (e.g., Lagos State Tenancy Law, 2011) .

3. Lawyer or Legal Professional
- For complex agreements (e.g., commercial leases or high-value properties), lawyers draft or review the document to ensure enforceability .
- Legal input is critical for compliance with state-specific laws, stamp duties, and registration (e.g., Governor’s Consent for leases >3 years) .

4. Online Platforms and Legal Services**
- Digital tools like Homz.ng’s Tenancy Agreement Generator or Law Depot offer customizable templates tailored to Nigerian laws .
- These are cost-effective but should still be reviewed by a lawyer .

5. Government or Housing Authorities
- Some states provide standardized tenancy agreement forms to ensure compliance with local regulations .

Key Considerations for a Valid Agreement
- Mandatory Clauses: Names of parties, property details, rent amount, duration, and termination terms .
- Tenant’s Role: Tenants should review terms carefully and negotiate if needed before signing .

For robust protection, landlords and tenants are advised to involve legal professionals, especially for long-term or high-stakes leases .

06/04/2025

2-Bedroom Room flat @ Bada Ayobo.
Running water
Only sitting room tiled
Annual rent 350k
Agreement 40k
Damages 40k
Commission 50K
Total package 480k

Calfat Projects LTD
08072373780

05/04/2025

What is a Tenancy Agreement Fee:
It’s a charge imposed by landlords, agents, or solicitors for drafting, reviewing, or processing a rental contract

Legal Fee:
This is the fee paid to a lawyer for drafting and reviewing the tenancy agreement, often calculated as 10% of the total rent.

Agency Fee:
This fee is paid to the real estate agent who facilitated the rental, typically ranging from 10% to 20% of the total rent.

Caution Fee:
This is a refundable deposit, usually 10% of the rent, intended to cover any potential damages to the property during the tenancy.

Service Charge (Optional):
Some landlords or communities may also charge a service charge for security, cleaning, Water and electricity, which is not always fixed and can vary depending on the property.

Example:
If the annual rent is N200,000, the potential fees could look like this:

Legal Fee: N20,000 (10% of N200,000)
Agency Fee: N20,000 to N40,000 (10% to 20% of N200,000)

Caution Fee: N20,000 (10% of N200,000)
Total Initial Cost (excluding rent): N60,000 to N80,000

04/04/2025

Calfat Projects Ltd, a full-service real estate and property management agency with over 10 years of expertise in Lagos State and beyond. We specialize in leasing, sales, construction, interior design, and cleaning services, offering tailored solutions to property owners seeking seamless management and maximized returns.

Why Partner with Us?
Proven Track Record: We consistently exceed leasing/sales targets through data-driven market insights and personalized client relationships.

Comprehensive Tenant Vetting: We rigorously screen prospective tenants to verify financial stability, ensuring timely rent payments and compliance with lease terms.

End-to-End Legal Support: Our team, including in-house legal professionals, prepares airtight contracts that protect your interests while balancing tenant needs.

Property Maintenance & Renovation: From routine quarterly inspections to modernizing properties to meet current building standards, we ensure your asset retains its value.

Proactive Problem Solving: We address tenant and landlord concerns swiftly, minimizing disruptions through clear communication and attention to detail.

Our Commitment to You
We act as your trusted partner, handling day-to-day operations so you can focus on your priorities. Whether leasing, selling, renovating, or maintaining your property, we deliver exceptional service grounded in transparency and professionalism.

We would welcome the opportunity to discuss how we can optimize your property’s performance. Please feel free to contact me directly @gmail.com or whatsapp 08072373780 to schedule a consultation.

Thank you for considering Calfat Projects Ltd. We look forward to the possibility of working together.

Best regards,
Fatunbi Caleb Akintinde
Managing Director

Calfat Projects Ltd

04/04/2025