Lagos govt requires month-to-month cost of home hire

The Lagos State Authorities has known as on stakeholders in actual property, to work out modalities for residents to pay home rents on a month-to-month foundation as an alternative of yearly.

Governor Babajide Sanwo-Olu made the decision through the Coverage Roundtable Dialogue with key stakeholders within the Actual Property Sector in Lekki on Thursday.

The roundtable was organised by the Lagos State Actual Property Regulatory Authority (LASRERA).

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In line with Sanwo-Olu, a scenario the place residents face strain as soon as their rents have been due was not palatable.

He additionally famous that the housing deficit in Lagos State was big and urged non-public practitioners to play by the foundations.

”The true property can contribute 20 to 25 per cent to the GDP. We have to have clear information the place landlords would not be demanding one 12 months hire forward.

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”Landlords ought to see how they will scale back yearly hire to month-to-month. The housing deficit in Lagos is big and unacceptable, however authorities can’t do it alone,” Sanwo-Olu mentioned.

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