1. bookVolume 9 (2021): Issue 1 (January 2021)
Journal Details
License
Format
Journal
eISSN
2255-9671
First Published
15 Dec 2015
Publication timeframe
1 time per year
Languages
English
access type Open Access

Impact of COVID-19 Pandemic on Tenancy Agreement: The Lesson from an Emerging Rental Housing Market in Nigeria

Published Online: 20 Jun 2021
Volume & Issue: Volume 9 (2021) - Issue 1 (January 2021)
Page range: 79 - 93
Journal Details
License
Format
Journal
eISSN
2255-9671
First Published
15 Dec 2015
Publication timeframe
1 time per year
Languages
English
Abstract

The study aimed at evaluating the contents of tenancy agreement entered into between lessors and lessees in Osogbo, Owode-Ede and Ede Metropolis in Osun State (Nigeria) from 2011 to 2020 in order to determine its adequacy in the face of the Post-COVID-19 pandemic in Nigeria. A questionnaire survey approach was adopted to achieve aim of the study. Findings of the study revealed steady dwindling of rental market transactions with deteriorating landlord/tenant relationship caused by disagreement on tenancy agreement related issues leading to default in rent payment, rent review period and renewal. Findings also indicated a low ebb experience in the rental market due to the economic downturn resulting from, among other factors, the lockdown policy, which impoverished Nigerians to the extent of struggling to make ends meet. The study further found that 86.3 % of the tenancy agreements were inadequate in content and execution as basic tenants’ remedial provisos were not included in most of the agreements. The study provided pertinent information that could be used as baseline information for tenancy agreement preparation, enhancing landlord (lessor) and tenant (lessee) relationship, and guiding rental real estate investment decisions in Nigeria.

Keywords

Ankeli, I. A., Nuhu, M. B., Popoola, N. I., Ankeli, U. C., & Ojeniyi, A. S. (2020). Gender Disparity in Land Ownership: An Invitation to National Underdevelopment. International Journal of Creative Research Thoughts, 8(6), 4176–4185. Search in Google Scholar

Ankeli, I. A., Dabara, I. D., Omotehinshe, J. O., Omoyosi, G. A & Agidi, M. O. (2017a). Evaluation of the Causes and Consequences of Tenant Eviction in Ede Metropolis, Nigeria. International Journal of Arts & Sciences, 9(4), 149–158. Search in Google Scholar

Ankeli, I. A., Dabara, I. D., Omotehinshe, J. O., Lawal, O. K., Odeyomi, F. G., & Adebowale, A. P. (2017b). Affordable and Acceptable Mass Housing Delivery: A Panacea to the Nigeria Housing Problem. In Conference of the International Journal of Arts & Sciences, 10(01), 31–38. Search in Google Scholar

Bello, N. A., Adepoju, A. S., & Durosinmi, W. A. (2020). Factors Influencing Rental and Capital Values of Residential Investment Property in Abuja, Nigeria. INTREST – International Journal of Real Estate Studies, 14(1), 102–109. Search in Google Scholar

Costin, J. (2020, May 7). Covid-19: The Impact on the Global Rental Market. The Employment Condition Abroad International (ECA). https://www.eca-international.com/insights/articles/may-2020/covid-19-the-impact-on-the-global-rental-market Search in Google Scholar

Estate Intel (2020). Nigerian Real Estate and COVID in 19 Slides. https://estateintel.com/insights/nigerian-real-estate-and-covid-in-19-slides10.1201/9780429279409-3 Search in Google Scholar

Hazlina, M. P., Farihana A. R., Nor, L. A., & Noorsaliza, A. N. (2020). COVID 19: The Application of the Doctrine of Frustration in a Tenancy Agreement. Articles Compilation: Thesis in 5 Minutes. MNNF Publisher. Search in Google Scholar

Musa, G. U., Adeogun, A. S., and Durosinmi, W. A. (2020). Effects of COVID-19 on Urban Housing Delivery and Affordability in Nigeria. INTREST – International Journal of Real Estate Studies 14(S2), 195–204. Search in Google Scholar

Nwannekanma, B. (2020, August 24). COVID-19 Triggers Conversion of Properties to Rental Apartments. Guardian Newspapers. Search in Google Scholar

Noah, I. (2020). Nigeria’s Real Estate Market. Property Wire. https://www.propertywire.com/blog/nigerias-real-estatemarket/ Search in Google Scholar

Jayabalan, S. (2020). The Legality of Doctrine of Frustration in the Realm of Covid-19 Pandemic. Sociological Jurisprudence Journal, 3(2), 84–90. https://doi.org/10.22225/scj.3.2.1900.84-9010.22225/scj.3.2.1900.84-90 Search in Google Scholar

Olayonwa, G. O. (2000). Property Management Principles and Practice. Debo Publishing Company, Iwo, Nigeria. Search in Google Scholar

Ozili, P. K. (2020). COVID-19 Pandemic and Economic Crisis: The Nigerian Experience and Structural Causes. MPRA Paper No. 103131.10.2139/ssrn.3567419 Search in Google Scholar

Pawson, H. & Munro, M. (2007). What Causes Tenancy Failure and can Choice Help? Analysing Tenancy Sustainment in British Social Rented Housing; Housing Studies Association Conference, University of York, 11 –13 April. Accessed on 03/04/2014 at http://www.york.ac.uk/chp/hsa/papers/spring07/pawson.doc Search in Google Scholar

Tanrıvermiş, H. (2020). Possible Impacts of COVID-19 Outbreak on Real Estate Sector and Possible Changes to Adopt: A Situation Analysis and General Assessment on Turkish Perspective. Journal of Urban Management, 9(3), 263–269. https://doi.org/10.1016/j.jum.2020.08.00510.1016/j.jum.2020.08.005 Search in Google Scholar

Wang, B. (2021). How Does COVID-19 Affect House Prices? A Cross-City Analysis. Journal of Risk and Financial Management, 14(2), 47. https://doi.org/10.3390/jrfm1402004710.3390/jrfm14020047 Search in Google Scholar

Recommended articles from Trend MD

Plan your remote conference with Sciendo