Lagos urges landlords to consider monthly rents

Lagos urges landlords to consider monthly rents
September 24
20:46 2020

The Lagos state government has urged stakeholders in the real estate sector to work out modalities for residents to pay house rents on monthly basis instead of yearly.

Babajide Sanwo-Olu, the Lagos state governor, was speaking on Thursday during a policy roundtable dialogue with real estate stakeholders that held in Lekki.

The roundtable, which was themed ‘International Best Practices On Real Estate Regulations’, was organised by the Lagos State Real Estate Regulatory Authority (LASRERA).

Sanwo-Olu urged stakeholders to work hand-in-hand with the state government to address the issue of housing deficit and reduce rents to make life easier for Lagosians.


He said the current situation where residents are under pressure when their rents are due is not palatable.

Sanwo-Olu said that the housing deficit in Lagos state is huge, and urged private practitioners to play by the rules.

”The real estate can contribute 20 to 25 percent to the GDP. We need to have clear data where landlords would no longer be demanding one year rent ahead,” NAN quoted him to have said.


“Landlords should see how they can reduce yearly rent to monthly. The housing deficit in Lagos is huge and unacceptable, but the government cannot do it alone.”

The governor said it is clear that there is no proper data concerning the real estate operators in the state thus the need for the LASRERA registration portal.

“This platform will also ensure that we curb bad behaviours either on the landlord side or on the tenant side,” he explained.

“We have a deficit, and even the small one we have are not properly done. People are losing money, people are not being sincere.”


1 Comment

  1. Rochet
    Rochet September 26, 11:37

    This will be a welcome development. If implemented, it will set many free from bondage and suffering. In the 70s and 80s rent was paid monthly and this helped people to put food on their tables and also attended to some other needs like medical, transportation to and fro work places. Suddenly, towards the end of 80s, some Shylock landlords conspired to demand for annual payments from their tenants. This marked the very beginning of poverty and suffering in this country. The Lagos State Government should, please, not relent in achieving this: set the people free from man’s inhumanity to his fellow men.

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