Lagos State Government has reiterated its commitment to implementing monthly, quarterly, and yearly rent payment.

For this purpose, the authority has been engaging all relevant stakeholders for the smooth take off of the system, for the benefit of accommodation seekers.

The state government has equally charged professionals and trade groups in the real estate sector to be sensitive to public outcry over incessant and worrisome rent increment as well as unnecessary fees being currently charged, in defiance of the provision of the real estate laws of Lagos State.

The Commissioner for Housing in Lagos State Hon. Moruf Akinderu-Fatai and the Special Adviser to the Governor of Lagos State on Housing, Barrister Barakat Odunuga-Bakare, gave this commitment and charge on Wednesday during an exploratory meeting with executives of Estate, Rent and Commission Agents Association of Nigeria (ERCAN).

The duo while expressing the concern of the Lagos State Government on unwholesome practices among estate agents, with consequential upward swing in rent default, referred the practitioners to the provisions of the Lagos State Real Estate Transaction Law.

‘’The existing law recognizes your role and specified percentage of chargeable fees of not more than 10% on real estate transactions’’ the commissioner said.

Akinderu-Fatai also urged estate agents and similar bodies to come out strongly against quacks who encourage property owners to increase rent arbitrarily and create fees unknown to real estate transactions law of Lagos State.

He further advised ERCAN members to help spread the promotion of monthly, quarterly and yearly rent among its members.

The commissioner stated that Lagos State Government is ready to partner with all stakeholders to promote the rent payment system in order to ‘’halt the indiscriminate practices, make rent affordable, guaranty the interest of property owners and continuity of regular payment of rent by tenants’’.

The President of Estate Rent and Commission Agents Association of Nigeria, Mr. Godwin Aleke in his remarks, stated that its members were committed to rent affordability, promising that his members would assist the Lagos State Government to promote monthly ,quarterly and yearly rent system.

He pledged the association’s readiness to work in synergy with other professional bodies and stakeholders to sanitize the real estate practice in Lagos State henceforth.

The meeting is part of the ongoing strategic stakeholder’s engagement on rent and indiscriminate fee as charged by agents in Lagos State.

The meeting was also attended by the Permanent Secretary, Ministry of Housing, Engr. Abdulhafis Toriola and directors in the ministry. (Nigerian Tribune)