The Lagos State Governor Sanwo Olu has called on stakeholders in real estate, to work out modalities for residents to pay house rents on a monthly basis instead of annually.
He made the call during the Policy Roundtable Dialogue with key stakeholders in the Real Estate Sector in Lekki on Thursday.
The roundtable was organised by the Lagos State Real Estate Regulatory Authority (LASRERA).
According to Sanwo-Olu, a situation where residents face pressure once their rents were due was not palatable.
He also noted that the housing deficit in Lagos State was huge and urged private practitioners to play by the rules.
*Some peoples salaries will not be able to support the monthly house rent....
I'm a tenant but I don't support this. Some landlords are having issues collecting yearly rent, imagine the issues in collecting monthly rent
ReplyDeleteExcept you are living above your means..
DeleteMonthly rent is better.
You don't need to save for rent but save other things bcoz you know it's just a percentage of your monthly income.
Just like you pay your security, dustbin, Dstv and others.
Just add rent to it.
The problem is for example person who earn 300k and staying in an apartment of 1million or more. Mostly just to show
You speak like one who stays around lagos canals. Landlords in lagos presently are becoming heartless with the increase in rent. monthly payment is totally not acceptable. it will be worst if they impliment this policy
DeleteWho said that is a better opinion. Did u sample the opinions of Nigerians or you just copy and paste what you see abroad
ReplyDeleteIn Landlords' voice....shey na government build house for me abeg pay me my money.
ReplyDeleteI seriously doubt if it will work out in Lagos but it will be a good move if it can.
Exactly what all landlords will say, shey na sanwolu buy land for me, or donate cement give me. Can't the governor build housing estate units for low income earners and make them pay stipends? Instead of them selling all the lands to big men that can buy 500 hectares at a go, who will now build expensive structures that only rich people can afford to rent or buy. Where lies the fate of people working and are earning minimum wage? House rent in lagos is overly expensive.
Delete@Love Struck Are you minding him? Coming from someone wo bough cars for Judges yet he and his oga will check CNN to copy and paste what they are doing..How many low cost housing has been built for the masses..Yet na yanyankpo him dey do
DeleteLagos rent is learning
DeleteWhere Abuja is
It will favor some but not all. Some are used to the one year rent arrangement that they "forget" anything rent till next year once they have paid.
ReplyDeleteIt's not everyone that likes the idea of landlord "chasing" them around for house rent every month.
What he should be addressing is the outrageous amount for those many many levies when renting a new apartment and the 2yrs rent some landlords request. This monthly rent is done in some places in Lagos because of the cost of the house which is usually very high and it's usually for those apartments you just move in with only your clothes.
ReplyDeleteMeanwhile, let him repair the roads e no get the road wey good again for Lagos.
But he is seriously repairing roads ☺
Delete@Obioma please which roads is he repairing? I would like to know
DeleteThe issue of requesting for two years rent is based on experience. Some tenants are bad tenants.they pay one year and when it expires they will not pay and still want to be in the house which eventually leads to court cases or in some cases forceful eviction.in some cases after eviction you will spend a lot to put the house back in form for the next tenant.I am in court with one of such bad tenant.He said he would pay installmentally , I agreed but still could not make payment, and do not want to move out.make una reason am too na
DeleteI built the house for investment, if you can't afford it dont go near it
Most landlords wouldn't like this at all
ReplyDeleteI won't work for some.
ReplyDeleteWhy not scrap the excess charges on agreement, agent, and caution fee? Start with that Mr. Governor.
Monthly rent payment is so good when you earn very well. I love monthly rentage and wish my landlord will revert to it.
ReplyDeleteAfter making landlords pay 15million naira as development levy plus other ridiculous charges to develop the land, you will then turn around and ask them to collect monthly rent. Who in his right mind will spend so much developing his land and then be chasing tenants around every month? Govt should rent out those houses they built as PPP instead of selling them. It shouldn't be a case of so as I say and not do as I do.
ReplyDeleteEven if you spent billions on developing the land, that house will be there for a hundred years plus except your descendants pull the house down. So why the greed to make all the money in a few years. Two of my inherited properties are above 50 years. Today l don't collect rent from the properties, people from diverse ethnic groups live there for free but l make them maintain the houses. Life no hard abeg
DeleteAlexander, you are a good man, I've never heard anybody give their house to strangers to live for free. God bless your good deeds
DeleteOur govt nvr seize to amaze one. This was how Fashola said landlords must not collect more than a year rent from a new tenant. Guess what the landlords did? They kunkunma made the two year rent amount to be for a year. When govt fails to identify and solve the root cause of an issue, this is what happens.
ReplyDeleteLet them place a premium on accommodation. The so called govt houses can't even be accessed by the masses. Provide affordable housing, partner with the private sector and let's see if private landlords won't drop their housing conditions and even be the ones begging people to rent their apartments. In Lagos, accommodation is a big issue!
I support you as our next governor. Great piece
DeleteIt should be an option for tenants to decide when renting a house. In the abroad it works but it may not work for some in naija.
ReplyDeleteStella, if someone’s salary can’t support monthly rent, I dare say the person shouldn’t be living in a house that expensive.
ReplyDeleteI support this move. If you stay in a house that takes maximum of one-third of your income, per month, you should be fine. I know some people depend on intermittent payments for rent, they can use that payment for other things like school fees and savings. I believe this will also help people stay in homes they can ‘comfortably’ afford.
You've said it all! Most Nigerians live above their means hence depending on different corrupt practices to pay for their expenses
DeleteI don't live in Lagos but I'd prefer to pay rent yearly and get my mind off it.
ReplyDeleteNice one. If only all states would adopt this measure...
ReplyDeleteDon’t think this is good in an economy such as Nigeria’s where people barely get to feed.
ReplyDeleteThe yearly rent is what suits our economy.... What’s the assurance that a worker gets his/her salary at the end of every month? What about people who are always being owed at work?
He’s taking about annual pressure to pay rent, lol imagine the excess pressure it would be when it comes to monthly payment. Towards the end of the month you are thinking of how to pay either 50k or 70k or 80 or 100k to your landlord as opposed to paying at once and getting it off your mind?
It’s working in other countries bc they have a working economy.
They should start by making it optional. And see how it goes.
If our amenable governor wants to copy people in the abroad by asking landlords to collect rent monthly, then he should also apply the law as abroad where if your miss your rent by one month, maximum two months then you are out on the streets. Abroad them no dey owe landlord rent oooo!!! No be like Naija where some people go owe two years rent and still dey pose for landlord.
ReplyDeleteAbroad is mortgage now if you miss your rent, the landlord will receive letter from the bank to take over the property. Because no one buy house outrightly here. And to be honest house rent is outrageous in any city all over the world.
DeleteIt works abroad because of their good judicial system. When a tenant owes, you go to court and get jugdement immediately. Not Naija that u will be in court for two years. The govt can only control houses they built.
ReplyDelete