The Lagos State Government has reaffirmed its commitment to implementing a flexible rent payment system—monthly, quarterly, or yearly—capped at a one-year advance. It disclosed that consultations with key stakeholders are ongoing to ensure a smooth rollout of the initiative aimed at easing the financial burden on tenants.
The government also issued a strong caution to real estate professionals and trade groups, urging them to respect public sentiment and adhere to the Lagos State Real Estate Law, which prohibits indiscriminate rent hikes and the imposition of unlawful fees.
This stance was reiterated by the Commissioner for Housing, Hon. Moruf Akinderu-Fatai, and the Special Adviser to the Governor on Housing, Barrister Barakat Odunuga-Bakare, during a stakeholder engagement meeting with the leadership of the Estate, Rent, and Commission Agents Association of Nigeria (ERCAN).
Highlighting concerns over exploitative practices among some agents, they referenced the Lagos State Real Estate Transaction Law, which allows a maximum of 10% in chargeable fees on transactions. They urged ERCAN and similar bodies to join in curbing the activities of unlicensed agents and to actively support the government’s rent reform policy.
Hon. Akinderu-Fatai further encouraged ERCAN to champion the promotion of more tenant-friendly rent models among its members, stressing that collaboration between the government and stakeholders is essential to making rent affordable while protecting landlords’ interests and ensuring consistent rent payments.
In response, Mr. Godwin Aleke, President of ERCAN, assured the government of the association’s willingness to support the rent reform and work with other professional bodies to improve standards in the real estate sector.
The meeting is part of Lagos State’s strategic engagement efforts aimed at curbing exploitative practices and ensuring fair housing policies for residents. Also present were the Permanent Secretary of the Ministry of Housing, Engr. Abdulhafis Toriola, and senior directors of the ministry.
INN-HOUSE☆ 