WHAT THE LAGOS GOVERNMENT SAID ABOUT SOME LANDLORDS DEMANDING FOR MORE THAN A YEAR RRENT.
The Lagos State government has recently reiterated its stance against landlords and property owners demanding more than one year’s rent in advance from tenants.
Here’s a summary of what the Lagos State government has said:-
• ILLEGALITY OF DEMANDING MORE THAN ONE YEAR’S RENT:
The government has reminded landlords and agents that the Lagos State Tenancy Law prohibits them from demanding or receiving rent exceeding one year in advance, especially from new tenants. Some reports indicate that this law has been in place since 2011.
• CALL FOR RESIDENTS TO REPORT VIOLATIONS:
The government, through the Special Adviser on Housing to the Lagos State Real Estate Regulatory Authority (LASRERA), Barakat Bakare, has urged residents to report landlords or agents who demand more than the stipulated one-year rent.
• CHANNELS FOR REPORTING:
Residents can lodge complaints by visiting the physical office of LASRERA or through its website. This will enable the agency to investigate and potentially sanction erring landlords.
• REVIEW OF TENANCY LAW:
The state’s tenancy law is currently under review to address existing gaps, particularly concerning caution fees, which have been a source of disagreement between landlords and tenants.
• ENGAGEMENT WITH STAKEHOLDERS:
The government is in discussions with landlords, property associations, and developers to promote fair pricing and responsible development in the housing sector.
• COMMITMENT TO AFFORDABLE HOUSING:
The government has expressed its commitment to making housing more humane and accessible and is exploring measures to ease the financial burden of rent on residents. This includes a push for monthly, quarterly, or yearly rent payments (up to a maximum of one year).
• VERIFICATION OF AGENTS:
Residents are advised to verify the registration status of any agent or developer with LASRERA before engaging in any property transaction to avoid dealing with unregistered or fraudulent individuals.
In essence, the Lagos State government is actively discouraging the practice of landlords demanding excessive advance rent and is encouraging tenants to report such illegal demands to the appropriate authorities. They are also working on strengthening the existing tenancy laws to better protect tenants and ensure fairness in the rental market.