Lagos State Govt to enforce monthly rental payment

Oluwasegun SanusiMarch 5, 20241 Mins read670

Lagos State Government has announced plans to implement monthly rental payments as part of efforts to enhance affordability and accessibility to housing in the state.

This was disclosed by the Special Adviser to Governor Sanwo-Olu on Housing, Barakat Odunuga-Bakare, during a recent press briefing held in Ikeja.

Odunuga-Bakare revealed that the state’s monthly rental scheme will be enforced before the end of 2024 or early next year.

She highlighted the rationale behind the initiative, citing the practice in other jurisdictions where rents are collected monthly.

“We all see what is being done in other climes, rents are collected monthly. Hence, we are looking and hoping that before the end of the year, or by early next year, we will be able to implement the policy of monthly rental. Also, the rental would be charged according to tenants’ earnings,” she stated.

One of the key features of the proposed scheme is the consideration of tenants’ income levels in determining rental charges.

She emphasised the importance of affordability and fairness in the rental process, indicating that the new policy aims to align rental payments with tenants’ earnings.

She also outlined plans to initially pilot the monthly rental scheme within the public sector.

This test run will enable authorities to assess its feasibility and effectiveness before extending it to the private sector.

“The good part about it is that we would be test-running it first within the public sector since we can ascertain how much everybody is earning, and once we see that it works in the public sector, we can now push it out to the private sector,” she explained.