The Lagos State Government has issued a warning to landlords and property agents against arbitrarily increasing rents, particularly in response to infrastructural developments or for vague, unjustifiable reasons.
Speaking on “Your View”, a live programme aired on TVC in Lagos on Saturday, Barakat Odunuga Bakare, the special adviser on Housing to the Lagos State Real Estate Regulatory Authority (LASRERA), condemned the trend and said the government would no longer tolerate the exploitation of residents.
Bakare noted that the state’s tenancy law is currently under review to address existing loopholes, including the issue of caution fees, which are not yet provided for in the current legal framework.
She also clarified the specific roles of house agents and legal practitioners in rental transactions, cautioning against the encroachment of lawyers into areas beyond their legal remit in real estate matters.
Encouraging residents to take action, she urged them to report any regulatory violations by landlords or agents either in person or through LASRERA’s online platforms.
Reaffirming Governor Babajide Sanwo-Olu’s commitment to addressing housing challenges, Bakare said, “Government is constantly engaging landlords, property associations, and developers to promote collaboration and also to control excessive housing costs.”
Read also: Enugu’s move to regulate rent sparks debate on Lagos housing crisis
She also emphasised the fairness of the government’s approach to distributing state-owned housing, stating that “the Lagos State Government is fair and just in the distribution of state-owned housing, making use of fair, transparent, and well–laid–out criteria.”
Odunuga Bakare advised Lagosians to verify the registration status of agents and developers with LASRERA before making any rental or purchase agreements. She also called on all real estate practitioners in the state to ensure they are properly registered with the agency.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
