The Lagos State Authorities has reiterated its place in opposition to the exploitative rental practices, warning landlords and brokers that tenancy settlement charges should not exceed 10% of the annual hire.
The Particular Adviser to the Governor of Lagos State on Housing, Barrister Barakat Odunuga-Bakare, made this recognized on the 2025 Ministerial Press Briefing held on the Bagauda Kaltho Press Centre, Alausa.
She highlighted the readability of the Lagos State Tenancy Legislation, stating that any demand above 10% for settlement or authorized charges is a direct violation of the state’s housing rules.
“The Lagos State Authorities has reiterated its stance in opposition to the imposition of extreme tenancy settlement charges, reminding all stakeholders throughout the state that the stipulated most stays 10% of the annual hire.
“Barr. Odunuga-Bakare underscored the readability and unambiguous nature of the Lagos State Tenancy Legislation, stating unequivocally that any landlord or agent discovered demanding or amassing greater than 10 per cent of the annual hire as settlement or authorized charges is in direct violation of the state’s tenancy rules,” the supply learn partly
Bakare stated the federal government has been overwhelmed with reviews of landlords and brokers charging exorbitant settlement and fee charges, making life more durable for Lagosians.
She urged members of the general public to not stay silent however to talk up and report any landlord or agent demanding unlawful charges, emphasizing that the federal government can’t at all times be current all over the place.
The Particular Adviser acknowledged that Lagos’ rising inhabitants and rising migration have created alternatives for some to use renters, however affirmed the federal government’s dedication to cleansing the housing sector and defending residents’ rights.
She additionally identified the continued collaboration between the federal government and acknowledged associations of actual property brokers, noting that lots of the offenders are usually not licensed professionals.
The Lagos State Authorities urges all residents who encounter calls for for tenancy settlement charges exceeding the legally mandated 10% to report such incidents by way of the Lagos State Actual Property Regulating Authority (LASRERA).
The housing state of affairs in Lagos continues to deteriorate, with tenants going through relentless strain from rising rents and under-regulated costs. In lots of neighborhoods, rents have greater than doubled over the previous few years.
The Lagos State Authorities’s current reaffirmation of the ten% cap on tenancy settlement charges goals to handle these challenges and defend tenants from exploitative practices. By implementing this regulation, the federal government seeks to foster a clear and extra accessible housing market within the state.
