“Reduce yearly rent to monthly” – Sanwo-Olu urges Lagos landlords

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Lagos state governor, Babajide Sanwo-Olu has urged stakeholders in the real estate sector to work out modalities for residents to pay house rents on monthly basis instead of yearly.

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He made this known during a policy roundtable dialogue with real estate stakeholders that held in Lekki.

Sanwo-Olu urged stakeholders to work hand-in-hand with the state government to address the issue of housing deficit and reduce rents to make life easier for Lagosians.

He said the current situation where residents are under pressure when their rents are due is not palatable. He said;

”The real estate can contribute 20 to 25 percent to the GDP. We need to have clear data where landlords would no longer be demanding one year rent ahead,” NAN quoted him to have said.

“Landlords should see how they can reduce yearly rent to monthly. The housing deficit in Lagos is huge and unacceptable, but the government cannot do it alone.”

Sanwo-Olu added that it is clear that there is no proper data concerning the real estate operators in the state thus the need for the LASRERA registration portal.

“This platform will also ensure that we curb bad behaviors either on the landlord side or on the tenant side,” he explained.

“We have a deficit, and even the small one we have are not properly done. People are losing money, people are not being sincere.”

Funmilola Efosa

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Funmilola Efosa

Funmilola is passionate about event planning, she's an entertainment enthusiast, though has a degree in Computer Science, a budding entrepreneur.
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