Korede Abdullah in Lagos
In a decisive bid to tackle rising housing costs and curb exploitative practices, the Lagos State Real Estate Regulatory Authority (LASRERA) has forged a strategic alliance with the Chairmen of the 57 Local Governments and Local Council Development Areas.
The collaboration, announced in Ikeja, aims to regulate agency and legal fees charged by real estate practitioners. “Our goal is not only to reduce exorbitant fees but to bring sanity to the built sector and make life easy for the average Lagosian,” said Commissioner for Housing, Hon. Maruf Akinderu-Fatai.
Reiterating the state’s commitment to affordable housing, Akinderu-Fatai stressed that housing is a basic necessity and Governor Babajide Sanwo-Olu’s administration is determined to make it accessible to all.
On her part, Special Adviser to the Governor on Housing, Hon. Barakat Odunuga-Bakare, declared, “Agency fees must be between zero and 10 per cent; anything beyond that is unacceptable and exploitative.”
She revealed the government’s plan to introduce monthly rent payments, urging residents to engage only registered agents and developers.
Odunuga-Bakare further warned of the dangers of dealing with unregistered agents, highlighting that LASRERA is committed to protecting both tenants and landlords. “We will not relent in our effort to restore sanity to the built sector,” she assured.
She encouraged the public to verify agents on the LASRERA website and report defaulters, noting that the grassroots-focused collaboration underscores the government’s resolve to promote fair and affordable housing across Lagos.
