The Lagos State Government has reaffirmed its commitment to implementing monthly, quarterly, and yearly rent payments, limited to a maximum of one year.
This was announced by the Commissioner for Housing, Moruf Akinderu-Fatai, in a joint statement with the Special Adviser to the Governor on Housing, Barakat Odunuga-Bakare, following a recent meeting with members of the Estate, Rent and Commission Agents Association of Nigeria (ERCAAN).
During the meeting, Akinderu-Fatai noted that the government is determined to work with all stakeholders to make housing more accessible and to prevent exploitation of tenants by unscrupulous estate agents. He stressed that the rent system should not exceed a one-year payment structure and must be aligned with Lagos State Real Estate Transaction Law.
The commissioner pointed out that many estate agents continue to collect excessive fees and inflate rental charges without legal backing. These practices, he said, contribute to a surge in rent defaults and place unnecessary pressure on residents seeking affordable housing.
“We are calling on professionals and registered bodies in the real estate industry to act responsibly and respond to growing complaints about rising rent and illegal charges,” Akinderu-Fatai said.
He also noted that the law already provides a clear guideline, which sets a cap of 10 percent on fees for real estate transactions. The government, he said, expects agents to operate within these legal boundaries.
The Housing Commissioner urged estate professionals to report unregistered and unqualified individuals who give property owners misleading advice, such as increasing rent arbitrarily or introducing new fees that are not supported by law.
In response, the President of ERCAAN, Mr. Godwin Aleke, expressed his association’s support for the Lagos State Government’s policies. He assured that ERCAAN members would promote compliance with the rent system and help clean up the industry.
“We will work hand in hand with relevant bodies to ensure that real estate operations in Lagos follow proper standards,” Aleke stated.
