The Commissioner for Housing, Moruf Akinderu‑Fatai, revealed this during a ministerial briefing marking Governor Babajide Sanwo‑Olu’s time in office. He explained that since most workers earn salaries monthly, it only makes sense for rent payments to follow the same pattern, reducing financial pressure on low‑income earners.
According to him, the government is already in talks with landlords, developers, and other stakeholders, and a pilot scheme will roll out in selected areas first. The goal is to make housing more accessible without overwhelming residents.
Hmmmmm..This will cause a lot of issues oooo..
ReplyDeleteYou pay for a month and before you know it, another month don come and if you are to be given a notice to quit, it will be 15days..
Ogaooo
I hope the monthly rent will not be 200k per month for a house that was previously 50k per month if divided by 12 as a yearly rent .
ReplyDeleteI prefer that yearly. At least you pay once and relax your mind.
ReplyDeleteThe main issue is for them to ban agents and lawyers fees and reduce the house rent.
I prefer it too
DeleteSimple.
DeleteThis monthly rent will put a lot of pressure on people.
You have a point ☝️
DeleteNa to ban agents and lawyers fees.
God abeg, let it get to pH
ReplyDeleteMay come as a sweet relief if well Implemented.
ReplyDeleteHmmmm. How many landlords will agree to this?
ReplyDeleteThey will find it difficult to agree.
DeleteHmmmm!!
Mortgages are paid monthly overseas. The landlords built their houses from scratch with no assistance from banks....
ReplyDeleteNow you want to compel them to collect monthly rent
Some landlords are stubborn eh. Let's see!
ReplyDeleteNigeria is a free economy country.
ReplyDeletePrices cannot be regulated in a free economy especially where supply does not meet or surpass demand.
Tenants are Kings and Queens in Lagos State.
The old type laws very protective of Tenants cannot work anymore in the City/State of Lagos.
For this Law to work, all tenants opposing (new) rent increase must show evidence of paying prior agreed to. This loophole in current in the current law is why Tenants keep cases in court nearly forever and, when they lose, they walk away with years of unpaid rent.
Landlords are then forced to make the next tenant pay for the walkaway tenant and the vicious cycle continues.
Most Landlords are older people or pensioners living solely on rent. They should not be made to be dependent on their children.
For this Law to work, these are necessary -
The portion of the law on Saturday court sessions must be enforced strictly.
The Magistrate Courts should be digitized and given electronic recorders.
Specially trained tenancy Magistrates must be employed.
Let Lagos State work with Ogun State to open and repair roads to boundary town. The developers will do the rest by building in those areas.
The current law was enacted with the same fanfare. Its impact fizzled out within months. Law works on facts. Currently, the facts do not support the Law being proposed - No sane businessperson buys to sell at a loss.
We have some many pressing issues at hand. The yearly payment is better.
ReplyDeleteTackle unjustified increased rent, unexplained agent fee and that rubbish commission.
Agbero's collection at the park, leading to hike on transportation. etc
Well said.
DeleteSome landlords use the yearly rent to pay their children's school fees and other big projects, how will that be possible with monthly rents?
ReplyDeleteOne of my husband's uncle collects monthly rent o, if you can't keep up, just leave his house jeje
ReplyDeleteI prefer yearly or quarterly rent
ReplyDeleteI prefer yearly rent, you pay and rest till the following year.
ReplyDeleteIf Landlord go gree
ReplyDeleteDifferent strokes. If I we're still a tenant, i'd prefer paying yearly instead of monthly.
ReplyDeleteYou want to control,what you don't have any input? Abeg shift. Try and build low cost housing units first.🙄🙄🙄
ReplyDelete💯% on point! 🎯 @Blogbrity.
DeleteDon't mind that clueless, senseless government.
For almost 27 years of APC-led government in Lagos the could not replicate the low cost housing projects that former governor Lateef Jakande built in all parts of Lagos State.
Is it possible?
ReplyDeleteQuarterly rent is still preferable to monthly rent
What's the difference
ReplyDeleteIf implemented, in no distant time it will be abused. The monthly rent will become 200k as opposed the 30k-50k rate multiplied by 12 for a year. And you know what, we will get used to it somehow. Nigerians have been so abused by the government and by each other, that we take whatever comes and continue. A crazy loony loop where greed is the "god".
ReplyDelete