Lagos Assembly Moves to Slash Rent Agency Fees to 5%

Lagos Assembly moves to slash rent agency fees to 5%

Lagos State House of Assembly has proposed a new tenancy law that, if passed, will cut the maximum agency fee or commission on annual rent from the

Lagos moves to tackle exploitative rent fees - Prime Progress NG

Under a tense atmosphere, legislators at the Lagos State House of Assembly debated over a Tenancy Bill regarding the power shift between tenants and landlords, including realtors. In recent years, Lagos’ housing market has devolved into an exploitative relationship between greedy landlords and powerless tenants, thanks to a series of loopholes.  Nigeria’s law regarding rental fees stipulates that agencies and legal professionals may each charge …

What to Know About New Lagos Tenancy Bill- Ekohotblog

The Lagos State House of Assembly is considering a sweeping new tenancy bill that could significantly reshape the relationship between landlords, tenants, and property agents in the state. The proposed law, which went through a one-day public hearing on Wednesday, aims to update tenancy rules, address housing pressures, and strengthen protections for both renters and […] The post What to Know About New Lagos Tenancy Bill appeared first on EkoHot…

Lagos tenancy bill to peg agency fee at 5%, punish defaulters

Mudashiru Obasa, speaker of the Lagos House of Assembly, says the proposed bill to regulate the relationship between landlords and tenants will reduce the agency fee or commission on annual rent from 10 to five percent if passed into law.   Obasa spoke on Wednesday during a one-day public hearing on the bill.   Represented by Stephen Ogundipe, a lawmaker, Obasa said section 3(4) of the proposed tenancy law will make it an offence for any agent c…

New bill to protect tenants from exploitation in Lagos

A member of the Lagos State House of Assembly, Mr Stephen Ogundipe, says the new Tenancy Bill of the House aims to protect tenants against exploitation by estate agents. Ogundipe, Chairman, House Committee on Information, said this in an interview with the News Agency of Nigeria (NAN) on Thursday in Lagos. NAN reports that the … The post New bill to protect tenants from exploitation in Lagos — Lawmaker appeared first on Dateline Nigeria.

New Tenancy Bill To Protect Lagos Tenants From Exploitation - Lawmaker - News Agency Of Nigeria

New Tenancy bill to protect Lagos tenants from exploitation — Lawmaker 12 total views todayBill By Adekunle Williams A member of the Lagos State House of Assembly, Mr Stephen Ogundipe, says the new  Tenancy Bill of the House  aims to protect tenants against exploitation by estate agents. Ogundipe, Chairman, House Committee on Information, said this  in an interview with the News Agency of Nigeria (NAN) on […] News Agency of Nigeria