In a decisive effort to reduce the financial burden of housing transactions and restore order in the real estate sector, the Lagos State Real Estate Regulatory Authority (LASRERA) has entered into a strategic partnership with the Chairmen of the 57 Local Government Areas (LGAs) and Local Council Development Areas (LCDAs) across Lagos State.
The initiative seeks to curb the excessive agency and legal fees imposed by real estate practitioners, thereby making property acquisition more transparent, affordable, and accessible for residents.
At a recent meeting held in Ikeja, the Commissioner for Housing, Hon. Maruf Akinderu-Fatai, explained that the collaboration is aimed at eliminating exploitative charges while reinforcing regulatory standards across the built environment.
He emphasized that access to decent housing is a right, not a privilege, and that the Sanwo-Olu-led administration remains committed to delivering affordable shelter for all.
Also speaking at the forum, the Special Adviser to the Governor on Housing, Hon. Barakat Odunuga-Bakare, reiterated that agency fees must be within the 0–10 percent range, declaring any charge beyond that limit as exploitative and unacceptable.
She further revealed that the state government is working toward a future where monthly rent payments become the standard, easing financial pressures on tenants.
Odunuga-Bakare urged Lagosians to engage only registered real estate agents and developers verified by LASRERA to avoid fraud and ensure legal protection.
“Residents must understand the risks involved in dealing with unregistered agents. LASRERA was established to protect the interests of both tenants and landlords, and we are unwavering in our mission to sanitize the real estate sector,” she stated.
The partnership with LG and LCDA Chairmen represents a significant push to extend LASRERA’s regulatory presence to the grassroots, where most housing transactions take place.
It underscores the state government’s commitment to implementing fair housing practices in every community.
Odunuga-Bakare advised the public to utilize the LASRERA website to confirm the registration status of real estate practitioners and report any misconduct or infractions.
INN-HOUSE☆ 