”Landlords Should See How They Can Reduce Yearly Rent To Monthly Rent”- Lagos State Govt

On Thursday in Lekki  during the Policy Roundtable Dialogue with key stakeholders in the Real Estate Sector, Mr. Babajide Sanwo-Olu, Lagos State Governor urged landlords to see how they can reduce yearly rent to monthly.

Sanwo- Olu said:

“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,” 

The roundtable dialogue with the theme  ”International Best Practices On Real Estate Regulations,” was organised by the Lagos State Real Estate Regulatory Authority (LASRERA).

The Governor, also expressed his worries and concerns on how Lagos residents faced pressure once their rent is due.

”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,”

He also gave reasons why the Lagos State Real Estate Regulatory Authority portal was set up.

”This platform will also ensure that we curb bad behaviours either on the landlord side or the tenant side.

”We have deficit, and even the small one we have are not properly done. People are losing money, people are not being sincere,” 

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