This followed the adoption of a motion on the “Need to Regulate Arbitrary Rent Increase and Protect Tenants from Exploitation” moved by Hon. Bassey Akiba during Thursday’s plenary.
Presenting the motion, Akiba cited examples from the Federal Capital Territory (FCT), where rents in some neighbourhoods with newly constructed roads have reportedly jumped from N800,000 to as high as N2.5 million per annum, placing an unbearable financial burden on tenants.
Akiba decried the “wanton exploitation” by property owners who take advantage of public infrastructure improvements to impose arbitrary rent increases, saying such practices undermine the government’s welfare initiatives and could drive vulnerable citizens into crime to meet inflated demands.
Adopting the motion, the House urged the Federal Government to prioritise investment in affordable housing schemes to reduce pressure on the rental market and ensure access to low-cost housing for citizens.
It also urged the Federal Ministry of Housing and Urban Development to collaborate with state governments to enforce rent control measures, ensuring that public infrastructure projects do not trigger exploitative rent hikes, and to cap rent increases at no more than 20 percent of existing rates, irrespective of new developments or other factors.
The House further mandated its Committee on Housing and Habitat to ensure compliance with the resolutions and report back within four weeks for further legislative action.
Dailytrust
Presenting the motion, Akiba cited examples from the Federal Capital Territory (FCT), where rents in some neighbourhoods with newly constructed roads have reportedly jumped from N800,000 to as high as N2.5 million per annum, placing an unbearable financial burden on tenants.
Akiba decried the “wanton exploitation” by property owners who take advantage of public infrastructure improvements to impose arbitrary rent increases, saying such practices undermine the government’s welfare initiatives and could drive vulnerable citizens into crime to meet inflated demands.
Adopting the motion, the House urged the Federal Government to prioritise investment in affordable housing schemes to reduce pressure on the rental market and ensure access to low-cost housing for citizens.
It also urged the Federal Ministry of Housing and Urban Development to collaborate with state governments to enforce rent control measures, ensuring that public infrastructure projects do not trigger exploitative rent hikes, and to cap rent increases at no more than 20 percent of existing rates, irrespective of new developments or other factors.
The House further mandated its Committee on Housing and Habitat to ensure compliance with the resolutions and report back within four weeks for further legislative action.
Dailytrust
A welcomed development.
ReplyDeleteWe recently increased rent for some of our tenants (per the landlord's instructions) from 450k to 1 million, me sef felt somehow signing those letters. I hope this is done as soon as possible, make we try dey get conscience for this country.
Next stage should be those ridiculous 10 percent silly agents insist on.
What an increment! That landlord no get conscience
DeleteYou want to regulation without input?🙄🙄🙄
ReplyDeleteGood news
ReplyDeleteIt will be a welcome development if these scale through.
ReplyDeleteOur landlady kept adding 100k to our rent yearly until she finally asked us to pack. Right now, she has increased the rent by 20%.
Government should also work on those silly 20% for agent fee, 20% lawyer fee and 10% caution fee.
Rent over here is just terrible.