After Enugu state, Lagos state moves to enforce 10% fees, sends message to landlords about rents

• After Enugu state, different authorities authorities has yet taken enactment connected the indiscriminate fees charged by existent property agents
• Lagos authorities authorities stressed that it volition nary longer tolerate existent property agents charging much than what the instrumentality states
• The authorities has besides unveiled plans to accelerate the implementation of a monthly and quarterly rent outgo system

Legit.ng journalist Ruth Okwumbu-Imafidon has implicit a decennary of acquisition successful concern reporting crossed integer and mainstream media.

As portion of moves to modulate existent property successful Lagos state, the authorities authorities has announced that it volition enforce a headdress compliance to the instrumentality among players successful the existent property sector.

There person been repeated complaints connected societal media astir unfair practices among existent property agents and spot owners successful Lagos State.

Some of the issues raised successful specified complaints see ridiculously precocious cause fees, request for much than one-year rent, indiscriminate summation of location rent, among others.

The existent property instrumentality of Lagos authorities provides for not much than 10% of the rent to beryllium charged arsenic cause fees. Photo credit: Pius Utomi Ekpei/Benson Ibeabuchi
Source: Getty Images

The Lagos authorities authorities has frankincense stated its committedness to resoluteness the issues, starting with the implementation of monthly, quarterly and yearly outgo oregon not much than 1 twelvemonth rent.

The Commissioner for Housing successful Lagos State Hon. Moruf Akinderu-Fatai and the Special Adviser to the Governor of Lagos State connected Housing, Barrister Barakat Odunuga-Bakare made this announcement connected Wednesday during an exploratory gathering with executives of Estate, Rent and Commission Agents Association of Nigeria (ERCAN).

The commissioner stated that the authorities has been acrophobic with the reports of unwholesome practices among existent property agents successful the state.

They urged the radical to propagate the adoption of monthly and quarterly rent, noting that the instrumentality does not licence much than 1 twelvemonth rent payment.

The Commissioner added that the authorities is consenting to spouse with the stakeholders, and warrant the continuity of regular outgo of rents, if they follow the monthly and quarterly option.

Lagos authorities authorities condemns indiscriminate rental fees

Honorable Akinderu-Fatai noted that the gathering was portion of the ongoing strategical stakeholders’ engagement connected rent and indiscriminate fees arsenic charged by agents successful Lagos State.

He called connected the existent property agents and different players successful the assemblage to beryllium delicate to the nationalist outcry implicit indiscrimate rent increment, and abide by the laws.

Akinderu-Fatai added that adding unnecessary fees during rental, oregon expanding the rents arbitrarily are contrary to the existent property laws of Lagos state.

Lagos State Government has reiterated committedness to the implementation of monthly, quarterly and yearly rent of not much than a twelvemonth outgo and has been engaging each applicable stakeholders for the creaseless instrumentality disconnected of the strategy for the payment of rent seekers.

Lagos authorities authorities to enforce 10% existent property fees

Speaking connected the substance of fees attached to rentals, Akinderu-Fatai noted that the existent property agents are lone entitled to 10% fees.

He said;

“The existing instrumentality recognizes your relation and specified percent of chargeable fees of not much than 10% connected existent property transactions’’.

Recall that the Enugu State House of Assembly likewise took action to enforce the 10% fees attached to existent property transactions.

The existent property assemblage successful Lagos authorities is characterised with galore unprofessional practices, including arbitrary fees attached to rents. Photo credit: Pius Utomi Ekpei
Source: Getty Images

He besides cautioned against different players successful the assemblage arbitrarily creating fees and expanding rent arsenic they pleased.

The ERCAN President, Mr. Godwin Aleke stated successful his remarks that the radical is acceptable to enactment with the authorities authorities to sanitise the existent property assemblage successful Lagos.

Enugu State caps cause fees astatine 10%

In related news, the Enugu State House of Assembly has yet provided ineligible framework for existent property dealings successful the state.

The measure titled ‘Bill for a Law to Amend the Landlord and Tenant Law Cap 101 of Enugu State 2024’ has scaled done the archetypal reading, and was sponsored by Honorable Okey Mbah, the typical of Nkanu East constituency.

Among different things, the measure recommends stiff penalties of up to six months imprisonment oregon dense monetary fines for landlords and spot developers who default.

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Source: Legit.ng