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A longer lease term might very well be the best choice for you. But before you commit to one lease term or another, take a moment to consider the pros and cons of each:

Why Choose a One-Year Lease Term?

A one-year lease term is the most popular lease term option for apartments, and for good reason. A year is long enough to get to know whether you like an apartment enough to stay longer, and it’s short enough to give you the flexibility to move after a reasonable amount of time (12 months) without having to break a lease and possibly pay a penalty. If you decide you like your apartment and you’ve been a good tenant, you should be able to continue living there by renewing your lease.

Why Choose a Two-Year Lease Term?

If you’re confident that you’ll stay in your new apartment for a while, consider signing a lease for a two-year term, if it’s available. Although you’ll lose the flexibility of being able to leave without breaking your lease after 12 months if things don’t work out, committing to a two-year term has its benefits.

Most notably, you benefit because if your landlord wants to raise your rent at your next renewal, he’ll have to wait 24 months before doing so, instead of just 12. The savings may be significant if you’re in an economy where rents are expected to climb.

You also gain peace of mind because you know that you’re set in your new home for at least two years. Since your landlord won’t have an opportunity to choose not to renew your lease in 12 months, you can stay for 24 months (short of getting evicted for nonpayment of rent or other serious lease violations).

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The LSPWC, in a document made available to our correspondent, stated that the number of roads worked on had significantly improved due to the fundamental changes and innovations brought about by its executive chairman, Mr. Gbenga Akintola.

According to the document, in 2009 the roads maintained were 176, while in 2010, 2011, 2012, 2013, and 2014, the numbers increased to 212, 568, 705, 988, and 1,135 respectively, with 320 already worked on so far this year.

The corporation said in the period, it also introduced interlocking paving stones for road maintenance as solution to making roads in water-logged areas with severe drainage challenges last longer.

The statement read in part, “In order to consolidate this method in a more efficient way, the corporation established paving stones and kerbs production factories in its yards in Ojodu-Berger and Badagry. The corporation also proposed and received the governor’s approval to set up two new asphalt plants in Imota, Ikorodu and Ajido, Badagry.

“These two plants have production capacity of 160 tonnes of asphalt per hour. While the one in Imota was inaugurated by the governor in February 2014; that of Badagry is presently awaiting inauguration even though it has started full operation since December 2014.”

According to the document, the Imota plant covers over 420 roads located in Ikorodu, Epe, Ibeju-Lekki and parts of Eti-Osa local government areas, while that of Badagry caters for over 400 roads in Ojo, Amuwo-Odofin, Ajeromi-Ifelodun and part of Alimosho local government areas.

It noted that the corporation had also commenced full-scale construction of selected roads in the state.

“From sometime in 2012, the Lagos State Government, having realised the beef-up in the capacity of LSPWC, began to assign certain roads to the corporation for full-scale construction, involving drainage work, road surfacing, culverts as well as installation of street lighting facilities and lane marking. This has been of huge benefit to tax payers as such works are done via direct labour approach, thereby helping the government to cut costs significantly,” the document stated.

Some of the roads done under the arrangement, it added, included Emmanuel Kolawole Street, Somolu; Soluyi Street, Kosofe; Ladipo Kuku and Allen Avenue, Ikeja; Oba Adeboyega, Epe; Oshundairo Street, Agege; Oluodo Road, Ikorodu; and Jamiu Alli Balogun, in Apapa, among others.

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Hamzat said this at the 2015 ministerial press briefing of the Ministry of Works and Infrastructure in Lagos, which he said was the last for the second term of Governor Babatunde Fashola’s administration.

According to the commissioner, the 281 roads account for about 297.517 kilometres; while the ongoing ones are about 237.771km in length and those that have been graded, surfaced and dressed are 71 in number and accounting for 76.740km.

Hamzat said, “During the period, we continued with our strategic inner roads development programme and the grading and surface dressing concept. At the heart of both programmes is the need to improve connectivity and ensure efficient traffic flow.

“Our plan to construct any road is informed by the possible users, flood control and management, and possible network connectivity.”

He noted that some of the roads that could not be completed during the period under review had constraints like the demolition of built up areas, which required community participation and support, as well as litigation.

The commissioner added that the status of the state as a coastal region two metres below sea level was also a major constraint.

“During the second term of this administration, there was an urgent need to design a programme that could quickly impact on the number of roads that were available to the public for use. This is a direct response to the demand for motorable roads within communities,” he added.

Hamzat said the ministry also engaged in the maintenance of several roads across the state as a critical component of the efforts at providing first class road network irrespective of the impact of the environment and topography on infrastructure.

The commissioner also said that a number of bridges were rehabilitated with the replacement of expansion joints at seven locations across the state.

They are Carter, Ikotun/Ejigbo, Oke Afa/Egbe, Dopemu, Iyana Ipaja, Alhaji Masha, Itowolo and Eko bridges.

“The replacement is to improve the driving comfort of the users; the bridges are not structurally defective,” he said.

Hamzat added that some jetties were also restructured to promote the use of water transportation.

“Being a state with immense waterways, it made perfect sense to leverage upon the water bodies to move the people. The administration then began the construction of model jetties to improve and promote water transportation. These include the Ipakodo, Badore, Osborne and Ibeshe floating jetties,” he said.

According to the commissioner, other construction works going on in the state are on course.

“We are still working on establishing the right of way for the Fourth Mainland Bridge. The pathway has a lot of people who have built there, there are about 69 houses to be demolished and that will run into billions in compensation. Some of the houses are massive but without plans; so, the work is ongoing but the alignment for the bridge will shift,” Hamzat added.

The Special Adviser to the Governor on Information and Strategy, Mr. Lateef Raji, said in the coming months, the Ministry of Works and Infrastructure would set the ball rolling on how the monthly Internally Generated Revenue of N23bn by the state government would be spent.

PUNCH.

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