Why Nigerians should stop paying for house rent in cash

GarriPeople


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Posted by on Monday April 14, 2014 at 13:49:57:

Cash payment for house rent is still prevalent in Nigeria as some landlords still demand that tenants should pay their house rents in cash instead of using other methods of payments. It is just few house owners who have come to know that their Tenants can pay their rents into their bank account and show the tellers to them as evidence of payment.

Few reasons why Nigerians should stop paying for house rent in cash include:

1. Evidence: First, whenever you pay for your house rent, the land lord or care taker will issue you a receipt as an evidence for your payment. In situation where the receipt gets missing, you have no other evidence of your payment, but if you own a photocopied copy of the bank payment teller you used for payment in a bank, it can still serve as an evidence of payment
if your original receipt gets missing. Even the bank can issue a printed statement of account in cases of disagreements and hence they act as a third party.

2. It is Stressful: Secondly, Cash payments is much more stressful to carryout, as you have to go to the bank, withdraw the cash before you can meet your Landlord to make the payment.

3. Safety: It’s not safe not carry bulk cash around with you here in Nigeria as cash payment of rent will require you to carry the money with you from the bank. This is not safe as there have been many instances where people have been robbed of their rent money as they were on their way from bank to pay the landlord and when such occurs, you are the person to bear the loss not the Landlord.