Sanwa-Olu asks landlords to reduce rents to monthly

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The Lagos State Government has called on stakeholders in real estate sector to work out modalities for residents to pay house rents on a monthly basis instead of annually.

The State Governor, Babajide Sanwo-Olu made the call during the Policy Roundtable Dialogue with key stakeholders in the Real Estate Sector.

The dialogue was organised by the Lagos State Real Estate Regulatory Authority (LASRERA).

According to the Governor, a situation where residents face undue pressure once their rents were due was not good. He also noted that the housing deficit in Lagos State was huge and urged private practitioners to play by the rules.

”The real estate can contribute 20 to 25 per cent to the GDP. We need to have clear data where landlords would no longer be demanding one year rent ahead.

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

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