The Lagos State Government has issued a stern warning to landlords and real estate agents over the arbitrary and unjustifiable increase in house rents, especially in areas witnessing infrastructural development.
During a live interview on the popular TVC programme “Your View” on Sunday, Special Adviser on Housing to the Lagos State Real Estate Regulatory Authority (LASRERA), Barr. Barakat Odunuga-Bakare, condemned the growing trend of rent hikes without clear justification and stated that the state would no longer tolerate the exploitation of residents.
According to her, it is unacceptable that some landlords and agents take advantage of new infrastructure in certain areas to impose steep rent increases on tenants without due process or justification.
“The Lagos State Government will no longer fold its arms and watch its residents being unfairly exploited by landlords and agents,” she said.
She clarified the differences in the roles of lawyers and licensed real estate agents in tenancy matters, stressing that not all legal practitioners are permitted to act as house agents under the law. This, she said, is part of the government’s broader strategy to bring order and professionalism to the property rental and real estate industry.
Barr. Odunuga-Bakare also revealed that the Lagos State Tenancy Law is currently under review to include provisions such as caution fees and other gaps previously unaddressed. She encouraged residents to report any landlord or agent engaging in exploitative or unlawful practices, either by visiting LASRERA’s office physically or submitting complaints online.
Reaffirming the commitment of Governor Babajide Sanwo-Olu’s administration to addressing housing challenges in the state, she said the government is consistently engaging landlords, developers, and property associations to curb excessive rent increases and ensure affordable housing for all Lagosians.
“The Sanwo-Olu-led government is focused on fairness and transparency in the allocation of state-owned housing,” she added, noting that there are clear and well-defined criteria used in the distribution process.
She also urged prospective tenants to verify the registration status of agents and developers with LASRERA before entering into any housing transactions, emphasizing that all real estate practitioners operating in Lagos must be registered with the agency to ensure accountability and professionalism.
The Lagos State Real Estate Regulatory Authority reiterated its resolve to regulate the real estate market, protect residents’ interests, and enforce existing housing laws to promote a fair and balanced rental ecosystem in the state.