A Tunisian businesswoman living in Nigeria has reportedly shut down her business after her landlord allegedly increased the rent on her rented property by 380%.

The businesswoman shared her experience in a video posted on X, formerly Twitter, where she explained that she had invested a significant amount of money into the property after securing the space.

Businesswoman says she invested heavily in rented property

According to her, she spent several years raising money to rent the building and subsequently invested heavily in renovating it.

She said she made major changes to the property, including replacing the flooring and ceiling, in an effort to transform the space for her business.

“I had to shut down my door because my landlord increased my rent by 380% a few months ago. I invested all the money I had, worked for like five years to rent this building. I changed everything, from the floor to the ceiling.”

The businesswoman claimed that she was not given prior notice of the proposed increase and only became aware of the new rent when it was time to renew her tenancy.

According to her, the new amount demanded by the landlord ran into millions of naira, making it difficult for her to continue operating the business from the property.

“She didn’t give me any notice. On the month I was to pay my rent, she said, ‘You have to pay so, so amount.’ We are talking about millions. Many millions.”

The situation reportedly forced her to close the business despite the substantial amount she had already invested in the property.

Reflecting on her experience, the Tunisian businesswoman advised business owners and tenants to exercise caution before spending large sums renovating or improving rented properties.

“My advice to anyone: don’t invest on that building that you don’t own.”

She also accused some landlords of taking advantage of tenants and urged business owners to consider the possibility of significant rent increases before committing heavily to rented premises.

Her experience has sparked discussions online about rising rental costs, tenant protection and the risks faced by business owners who invest substantially in properties they do not own.

AB