Lagos state reveals new move against rent hikes by estate agents

• The Lagos State authorities has begun a crackdown connected amerciable and indiscriminate rent hikes
• The authorities commissioner for housing, Moruf Akinderu-Fatai, said the determination is besides to rein successful quacks successful the manufacture who are liable for incessant rent hikes
• He asked existent property agents to abide by the rent instrumentality of the authorities by not charging much than 10% successful existent property fees

Legit.ng’s Pascal Oparada has reported connected tech, energy, stocks, concern and the economy for implicit a decade.

The Lagos State Commissioner for Housing, Moruf Akinderu-Fatai, has asked property agents and different bodies to determination powerfully against quacks asking spot owners to hike rent indiscriminately and make fees alien to the existent property transaction instrumentality of the state.

The authorities authorities besides asked professionals and commercialized groups successful the existent property industry to beryllium delicate to nationalist outrage implicit incessant rent hikes and unnecessary fees charged successful usurpation of the existent property instrumentality of Lagos State.

Babajide Sanwo-Olu's authorities begins a crackdown connected amerciable rent charges. Credit: LASG
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Lagos moves to eradicate aggregate years' rent

According to the commissioner, the authorities authorities is acceptable to collaborate with each stakeholders to beforehand the rent outgo system, extremity indiscriminate practices, marque rent affordable, warrant the involvement of spot owners and guarantee the continuity of regular rent payments by tenants.

Akinderu-Fatai restated the state's committedness to implementing monthly, quarterly, and yearly rent of not much than a year’s outgo and engaged the indispensable stakeholders to guarantee the creaseless take-off of the system.

Akinderu-Fatai alongside an adjutant to the politician connected Housing Odunuga-Bakare disclosed this during a gathering with the executives of the Estate, Rent, and Commission Agents Association of Nigeria.

They expressed interest implicit the unwholesome practices among agents, which person led to a spike successful rent defaults, referring them to the state’s Real Estate Transaction Law.

Lagos authorities pegs existent property committee astatine 10%

According to them, the existing instrumentality recognises their relation and percent of chargeable fees of not much than 10% of existent property transactions.

He asked the national to assistance make consciousness of the monthly, quarterly, and yearly rent.

The Estate Rent and Commission Agents Association of Nigeria, Godwin Aleke stated that the association’s members were committed to rent affordability and would assistance the authorities to beforehand existent property signifier successful enactment with the state’s laws.

The determination was portion of the ongoing stakeholder engagement connected rent and indiscriminate fees arsenic charged by agents successful Lagos State.

Lagos State demolishes amerciable structures

The improvement comes arsenic the Lagos authorities authorities is acceptable to commence the removal of amerciable structures successful selected areas crossed the state. 

The determination follows the expiration of the extended amnesty play granted by the authorities governor, Babajide Sanwo-Olu.

Lagos State governor, Babajide Sanwo-Olu, moves against quacks successful the existent property sector. Credit: LASG
Source: Getty Images

The Lagos State Building Control Agency (LASBCA) shared the update connected its website connected Monday, March 31, 2025. 

According to the LASBCA, the workout began successful Ogudu GRA, wherever officials of the bureau moved successful to enforce compliance with the state’s municipality readying regulations to safeguard nationalist safety.

Nigerians respond to demolition of respective houses successful Lagos

Legit.ng earlier reported that Nigerians connected societal media person spoken connected the reported demolition of buildings belonging to Igbos astatine Abule Ado successful Amuwo Odofin section authorities country (LGA) of Lagos state, south-west Nigeria.

Legit.ng reports that the Federal Housing Authority resumed the demolition of amerciable buildings successful Festac, Lagos, implicit the weekend.

Authorities said they are bringing down “distressed buildings” to “prevent catastrophe and prevention lives.”

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Source: Legit.ng