A member of the Lagos State House of Assembly, Mr. Stephen Ogundipe, has said the new Tenancy Bill aims to protect tenants from exploitation by estate agents.
Ogundipe, Chairman of the House Committee on Information, made the remarks in an interview with the News Agency of Nigeria (NAN) on Thursday in Lagos. The House had organised a public hearing on the bill on Wednesday.
The lawmaker explained that the bill includes provisions to ease the financial burden on tenants, responding directly to public complaints about the high fees charged by estate agents. A key provision reduces agency fees on annual rents from 10% to 5%.
Ogundipe expressed optimism that the bill would improve landlord-tenant relations and boost real estate investment in the state.
“The new bill under consideration is designed to protect the rights of both tenants and landlords,” he said. “It will reduce disputes, remove barriers to large-scale housing development, and put an end to many recurring controversies. This law will promote mutual understanding, clearly define rights and obligations, and ensure peaceful co-existence.”
He also highlighted the importance of reviewing existing legal requirements for landlords to insure their properties against loss or damage. The proposed law grants landlords the right to inspect and maintain their property, provided tenants are given prior notice.
The public hearing was attended by key officials, including Mr. Olusegun Ege, Chairman of the House Committee on Housing; House Majority Leader, Mr. Noheem Adams; and Lagos State Commissioner for Housing, Mr. Moruf Akinderu-Fatai.
Other participants included Mr. Ayodeji Amodu, Senior Special Assistant to the Governor on Housing, as well as representatives from the Nigerian Institution of Estate Surveyors and Valuers, Nigerian Bar Association, Real Estate Developers Association of Nigeria, Association of Realtors, and the Real Estate Agents Association of Nigeria.
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