As Lagos grapples with a worsening housing crisis, the state government is stepping in to regulate rising rent prices and reduce the financial strain on residents.
EpeInsights reports that the government is promoting flexible rent payment options, including monthly and quarterly plans as alternatives to the traditional yearly payment model.
The initiative, according to state officials, aims to tackle the proliferation of shanties and improve living conditions in Africa’s most populous city. It also aligns with the Lagos Tenancy Law, which supports fairer, more accessible rental practices.
During a recent meeting with members of the Estate, Rent and Commission Agents Association of Nigeria (ERCAAN), Lagos State Commissioner for Housing, Moruf Akinderu-Fatai, and the Special Adviser to the Governor on Housing, Barakat Odunuga-Bakare, emphasized the need to eliminate illegal charges in the real estate sector.
“The law permits a maximum of 10% as agency fees. Any extra charges caution fees, inspection fees, finder’s fees are not only exploitative but illegal,” Akinderu-Fatai said.
The state is calling on industry professionals, including estate agents and developers, to uphold these regulations and discourage sharp practices that burden tenants.
While tenants welcome the relief that flexible payments bring, some landlords have raised concerns about revenue stability and property maintenance. Still, the state is determined to ensure that all parties — landlords, tenants, and agents — find common ground.
The government is also seeking the support of key real estate associations, including the Nigerian Institution of Estate Surveyors and Valuers (NIESV) and the Real Estate Developers Association of Nigeria (REDAN), to ensure broad compliance and public awareness.
President of ERCAAN, Godwin Aleke, expressed the association’s commitment to collaborating with the state on implementing the rent reforms.
“Our members are ready to work with the government and other stakeholders to sanitize the sector and make rent more accessible for Lagosians,” he said.
The Lagos State Government maintains that its ultimate goal is to make housing affordable, protect tenants from arbitrary fees, and sustain regular rent payments that also serve landlords’ interests.
