Sanwo-Olu criminalise housing agreement, commission fees

The recent announcement by the Lagos State Governor, Babajide Olusola Sanwo-Olu, that his administration would enforce a monthly tenancy on property occupancy from 2022 to alleviate annual financial pressure on tenants, was a personal victory for me and a prayer come true for millions of Lagosians.

The governor had said that while building homes for those with home ownership dreams, the state is also determined to cater for numerous others who may not have plans to own homes but have immediate needs for decent shelter.

“The monthly tenancy is a pro-people plan to reduce financial pressure of yearly rent on tenants. The goal of this policy is to equate rental arrangements with the mode of earning which is by and large monthly.”

The percentage of residents depending on tenancy arrangements for housing in Lagos State is quite high, while landlords also charge double payment for apartments’ rent every two years.

While the governor should be commended for this great move, it is also important to call his attention to the issue of agreement and commission fees charged by housing or estate agents in Lagos. These two fees combined are usually more than the amount paid for house rent.

For instance, I recently went for a house hunt for a mini flat, the yearly rent was N250,000 while the total package was N500,000, excluding the damages fee and registration form.

Lagos agents are living far and large on these fees, they charge with impunity and they are responsible for the increase in house rent in the state.

Please, Mr. Governor, help us cut off these middlemen and advocate for a reduction in the amount paid for house rent in the state. It’s killing Lagosians.

Eniola Daniel, a brand manager, an influencer, wrote from Lagos.