Lagos to clamp down on landlords charging ‘exorbitant’ rents

The Lagos State Government has announced a crackdown on homeowners in state housing schemes who are accused of renting out their apartments at “exorbitant” fees.

Commissioner for Housing, Moruf Akinderu-Fatai, warned that the government will “wield a big stick” on those found guilty of such practices.

The move comes after residents in various state housing schemes lodged complaints about the high rents charged by homeowners.

According to Akinderu-Fatai, expensive rents hamper the government’s intention in providing subsidised housing options with low down payments and extended payment plans was to make life easier for Lagos residents.

“The essence of asking allottees to make a five per cent down payment and spread the remaining amount for ten years was to make life bearable for Lagosians,” Akinderu-Fatai stated.

He also accused some homeowners of exploiting the system for personal gain, stating, “they are renting those apartments out to make money… Why do people try to inconvenience others when the government intended to make life bearable for citizens?”

The commissioner, however, ordered facility managers and estate association members to report culpable allottees to the ministry, warning that those homeowners would forfeit their apartments and have their payments refunded.

He assured that the state government would continue to meet the needs of first-time buyers who require such accommodations through outright purchase and rent-to-own platforms.