Lease Agreement Template [Nigeria]
Updated January 5, 2024
You need a no-nonsense guide to your Lease Agreement, right? Here it is. When you’re eyeing that prime space for your office – be it a single apartment or an entire building – grasp the essence of your Lease Agreement. It’s your formal arrangement, etching your rights and obligations in stone.
You’re the Lessee, eager to occupy and utilize the space. The Lessor, the property owner, is ready to hand over the keys. But it’s land or a fixed structure we’re talking about – nothing you can move.
Generate your Lease Agreement
How to use this Lease Agreement
A business owner can use this agreement if he intends to lease an office space or shop or warehouse for use to carry out his business affairs. However, where the business owns a landed property and intends to lease it out for use, to diversify its investments, this agreement can also be used.
Get crystal-clear on this:
- Your duties and what’s expected of the Lessor.
- Lease duration. How long is yours?
- Usage boundaries. What’s off-limits in the property?
- Specifics that leave no room for doubt about what you’re leasing.
- Rental fee. How much?
- Payment method – keep an eye on the hows and whens.
- Insurance details – whose wallet gets dented?
- Start and end dates for the lease written in black and white.
- Consequences of contract breaches.
Why bother? Because understanding your Lease Agreement inside and out safeguards your interests. Ensure you know what you’re signing up for – it’s about defining the line in the sand between you and the Lessor. Make every term count.
Other names for Lease Agreement
- A Tenancy Agreement
Applicable Laws in Nigeria
The relevant laws or statues that make a Lease Agreement enforcement are as follows:
- Land Use Act
- Tenancy Law of a State e.g. Tenancy Law of Lagos State, 2011.
Other documents:
