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The short answer
Renting a flat in Akure usually means paying a full year of rent in advance, plus an agent's fee, an agreement or legal fee and often a caution (security) deposit, so the day-one bill is commonly 25% to 35% above the rent. In the labelled example below, a ₦600,000 flat needs about ₦800,000 on the day you move in. We found no Ondo State rule capping these fees, so agree every charge in writing and get a separate receipt for each.
Most people looking for a flat in Akure budget for the rent and are surprised by the rest. Agents, lawyers and landlords each take a share before you get the keys, and the amounts are rarely written down until you ask. This guide lists the usual charges, works through a labelled example, explains what the law does and does not say, and lists the receipts that protect you.
The charges you will meet
| Charge | What it is | Who keeps it |
|---|---|---|
| Rent in advance | Usually one year; some landlords ask for more | Landlord |
| Agency or commission fee | Paid to the agent who found the flat, often quoted as a percentage of a year's rent | Agent |
| Agreement or legal fee | For preparing the tenancy agreement | Lawyer or agent |
| Caution or security deposit | Held against damage or unpaid bills, refundable at the end | Landlord |
| Inspection fee | Some agents charge to show you flats | Agent |
| Service charge | Shared security, waste, water or generator in some compounds | Landlord or estate |
Not every let has every charge, and every one of them is negotiable before you pay. An inspection fee in particular is worth refusing or capping, because you can pay several before you find a flat.
Worked example: a ₦600,000 flat
Example (labelled): a 2-bedroom flat in Akure let at ₦600,000 a year, with an agent charging 10% and an agreement fee of 10%, and a ₦50,000 caution deposit.
| Item | Calculation | Amount |
|---|---|---|
| One year's rent | ₦600,000 | |
| Agency fee | 10% × ₦600,000 | ₦60,000 |
| Agreement fee | 10% × ₦600,000 | ₦60,000 |
| Caution deposit | Fixed | ₦50,000 |
| Total to the landlord and agent | ₦770,000 | |
| Moving, minor repairs, meter and locks (example) | ₦30,000 | |
| Day-one budget | ₦800,000 |
That is a third more than the rent. If the landlord asks for two years in advance, the same flat needs ₦1.37 million before moving costs, assuming the fees stay based on one year's rent. Read moving house: the full cost beyond the rent for the costs that follow the keys.
What the law says, and where
Rules differ by state, and Lagos is often quoted as if its law applied everywhere. It does not. The Lagos State Tenancy Law 2011 limits rent in advance for a new tenant to one year, and in May 2025 a Lagos government adviser warned agents and landlords against charging above 10% of yearly rent (Peoples Gazette). Those rules apply in Lagos. We did not find an equivalent Ondo State cap on advance rent or agency fees in the sources we checked, so in Akure the protection comes from what you agree and what you can prove. If a dispute arises, a lawyer can tell you which law applies.
Receipts to insist on
- Rent receipt from the landlord, naming you, the property and the period covered.
- Agency fee receipt from the agent, with their full name and phone number.
- Agreement fee receipt and a signed copy of the tenancy agreement for you to keep.
- Caution deposit receipt that states when and how it will be refunded and what can be deducted.
- Proof of ownership or authority: see the landlord's title or a written authority to let, and match the name to the account you pay into.
Negotiating the extras
Rent is often fixed by the landlord, but the extras are where a tenant has room. Ask whether the agent's fee and the agreement fee can be combined, or whether the agreement can be prepared once and reused at renewal without a new fee. Offer to pay promptly in full in exchange for a lower caution deposit. If two agents show you the same flat, deal with the one the landlord confirms in writing, because both may try to claim the fee.
Getting the caution deposit back
Take dated photos of every room, fitting and meter reading on the day you move in, and share them with the landlord by message so there is a record. Give notice in the way the agreement says, settle the last bills, and take photos again when you leave. Ask for the refund in writing, with any deductions itemised. A deposit with no written terms is the one most often lost.
What to check first
- Every fee, in writing, before you pay anything.
- The flat's meter, water source and the last electricity bill.
- How the caution deposit is returned, and when.
- Whether rent rises at renewal, and by how much last time; see rent in Akure by area.
Landlords and agents in Akure may ask for proof of income before letting. Proof of income for renting explains what usually satisfies them.
Where Pryme fits
Any Pryme customer can generate a verifiable statement or receipt through VerifyDoc.ai, which a landlord can check is genuine and unaltered. Pryme's naira Savings Boxes can hold next year's rent apart from spending money.
Questions people ask
How much is agent fee in Akure?
There is no published Ondo State cap that we found. Agents commonly quote a percentage of one year's rent; 10% is often asked. Agree it in writing before you pay.
Is caution fee refundable?
It should be, at the end of the tenancy, less any agreed deductions for damage or unpaid bills. Get a receipt that says how and when it is refunded.
Can a landlord in Akure collect two years' rent?
We found no Ondo State rule limiting advance rent. Lagos's 2011 Tenancy Law limits a new tenant's advance to one year, but it applies only in Lagos.
What documents should I collect when renting a house?
A rent receipt, the agent's receipt, the agreement fee receipt, a signed tenancy agreement and a caution deposit receipt, plus evidence that the person letting the flat owns it or has authority.
Sources
- Lagos State Tenancy Law 2011 (Policy Vault copy) · accessed Oct 2026
- Peoples Gazette: Lagos warns agents against charging above 10 per cent (15 May 2025) · accessed Oct 2026
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