*Moruf Akinderu-Fatai, Commissioner for Housing in Lagos State, states the state government is concerned about challenges families face in securing and retaining rental accommodations coupled with ‘unpleasant rent increments and illegal estate transaction charges’

Isola Moses | 绿帽献妻

The Lagos State Government (LASG) has demonstrated its support for reduction of property rent burden on Lagosians.

绿帽献妻 gathered the State Government urged the leadership of the Nigerian Institution of Estate Surveyors (NIES) and Valuers, Real Estate Developers Association of Nigeria, and Association of Estate Agents in Nigeria to shun the prevalent “illegal fees” being imposed on tenants in the real estate business.

Ganiu Lawal, Deputy Director of Public Affairs, in Lagos State, who noted this in a statement, urged these professional bodies to address the rate at which agents across the real estate value chain engage in competition of fees in real estate transactions in the state.

Lawal stated: “The introduction of illegal fees such as caution fee, inspection fee, finder鈥檚 fee, and others represents a professionally harmful practice which affects tenants and puts the integrity of the practitioners and property owners at stake.

鈥淭he Nigerian Institution of Estate Surveyors and Valuers, Real Estate Developers Association of Nigeria, and Association of Estate Agents in Nigeria, were invited to a stakeholders meeting jointly chaired by the Commissioner for Housing, Moruf Akinderu-Fatai, and the Special Adviser to the Governor of Lagos State on Housing, Barakat Odunuga-Bakare.”

The Deputy Director said: 鈥淭he session is a continuation of the strategic engagement to curb arbitrary rent charges, demand for high agent fees, and promotion of sanity in the real estate business in Lagos state.

“The meeting was held at the Conference Room of the Ministry of Housing, Alausa-Ikeja.鈥�

The State Government, through the Commissioner and Special Adviser, at a recent stakeholder engagement forum, challenged the Association to protect the integrity of the real estate business with support for a joint effort of all stakeholders, according to report.

This is with a view to ensuring full enforcement and compliance with the real estate transaction laws of Lagos State.

Hon. Akinderu-Fatai said: 鈥淭he aim of engaging all stakeholders is to strengthen the working relationship between the State Government and the professional bodies for the benefit of Lagosians.

鈥淟agos State Government is concerned about the challenges faced by families in securing and retaining rental accommodation in the state, with unpleasant rent increments and illegal estate transaction charges.鈥�

The Honourable Commissioner for Housing also restated the State Government’s plan to encourage and promote monthly and quarterly rent payments in the state in line with the tenancy law.

He acknowledged that 鈥渢he state government is aware of the increase in demand as greater than supply, but the government would no longer tolerate and allow the extortion of accommodation seekers with unwholesome practices.

鈥淚 want to assure you that the state government under the leadership of Mr Babajide Sanwo-Olu is compassionate and will leave no stone unturned to ensure sanity in the real estate business in the state.鈥�

In her submission, Odunuga-Bakare, Special Adviser to Governor on Housing, also maintained that there 鈥渨ere existing state laws, such as the 2015 Tenancy Law and the Lagos State Real Estate Regulatory Authority Law, which specify a percentage of chargeable fees of not more than 10 percent on real estate transactions.鈥欌��

The governor’s aide, therefore, charged the industry stakeholders to cooperate with the Lagos State Government to ease the conditions under which Lagosians secure accommodations.

Speaking at the stakeholders’ meeting in Lagos, Gbenga Ismail, a representative of the Nigerian Institution of Estate Surveyors and Valuers, Lagos Branch; Dr. Kolawole Tony, a member of the Real Estate Developers Association of Nigeria; and Dr. Adeniyi Tinubu, a member of the Association of Estate Agents in Nigeria, jointly expressed their readiness to forge a workable alliance with the state government to solve high rent cost and excessive charges, report stated.

The stakeholders were quoted to have said: “The professional bodies will also join the state government in promoting advocacy, public enlightenment as well as sensitisation programmes on the best practices in real estate transactions.鈥�

The participants in the meeting as well resolved to convene another stakeholders鈥� forum to be attended by representatives of all practitioners in the real estate business, including the Nigerian Bar Association (NBA), for other sectors of the state economy to subscribe to the objective of the forum for the benefit of Lagos consumers.

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