Annual Rent

    PAYMENT

    The total rent payable for one full year of occupancy. Many Nigerian rentals are priced and collected annually.

    See also

    Rent

    The agreed amount paid by a tenant for the right to occupy and use a property or space for a defined period.

    Monthly Rent

    Rent structured to be paid each month instead of annually or for another longer cycle.

    Tenancy

    The legal or practical relationship created when a tenant occupies a property under agreed terms for a specified period.