The Lagos State Government has announced significant updates to its tenancy law aimed at protecting tenants from exploitation and ensuring fairness in the state’s rental market.
The revised provisions seek to balance the interests of both tenants and landlords while curbing sharp practices that have long characterized property leasing in the state.
Under the updated rules, landlords are now prohibited from demanding more than three months’ rent in advance from existing tenants.
Equally, tenants are barred from offering more than three months’ rent upfront, thereby discouraging irregular payment structures and undue financial pressure.
In addition, the law makes it mandatory for landlords to issue receipts for all rent payments. Any landlord or agent who fails to provide such receipts could face a penalty of ₦10,000.
The updated law also places a cap on tenancy agreement fees, which must not exceed 10 percent of a tenant’s annual rent. Landlords or agents who charge above this stipulated limit will be in violation of the law.
Government officials explained that the changes are designed to foster transparency, accountability, and affordability in the rental housing market.
Authorities also warned landlords and agents to comply strictly with the provisions, stressing that enforcement measures will follow any breach of the new regulations.
The state government reaffirmed its commitment to creating a more equitable rental system that safeguards tenants while regulating the conduct of landlords and property agents.
Further details on implementation and enforcement are expected to be released in the coming days.
Source: Arise News
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