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The Lagos State Government has reiterated its commitment to implementing a rent payment structure that allows tenants to pay on a monthly, quarterly, or yearly basis, with a cap set at a maximum of one year.
This pledge was made by the Commissioner for Housing, Mr Moruf Akinderu-Fatai, in a joint statement with the Special Adviser to the Governor on Housing, Mr Barakat Odunuga-Bakare, released on Wednesday.
Speaking during a consultative meeting with executives of the Estate, Rent and Commission Agents Association of Nigeria (ERCAN), Akinderu-Fatai emphasised the state’s dedication to ensuring a smoother rental process that favours prospective tenants.
He said the government was engaging stakeholders across the real estate industry to facilitate a transition to the more flexible payment system and curb exploitative practices within the sector.
The commissioner criticised the rising trend of excessive rent charges and the imposition of arbitrary, unauthorised fees, warning that such actions breach the Lagos State Real Estate Transaction Law.
He expressed concern about unethical behaviours among some estate agents, which he said have contributed to an increase in rent defaults. He urged all industry practitioners to abide strictly by the provisions of the law, which specifies that commission fees on transactions must not exceed 10 per cent.
Akinderu-Fatai encouraged licensed agents and professional associations to speak out against unqualified individuals who pressure landlords to inflate rents or introduce illegitimate charges. He also called on ERCAN members to champion the adoption of monthly, quarterly, and annual rent payment models within their networks.
He said the state government remained open to collaborating with key players in the sector to reform rent collection systems in a way that protects both tenants and landlords.
According to the commissioner, this structured approach will curb rent exploitation, improve affordability, secure landlords’ interests, and ensure regular rent payments.
In response, ERCAN President Mr Godwin Aleke expressed the association’s support for the rent reform initiative. He pledged that his members would work closely with other real estate professionals and regulatory bodies to sanitise the sector and promote the new payment model.
