, i hope it work,,,,,cosidering the cost of building, and no alternative accomodation from the government,

example, mr A took a loan from bank say 3million to build 10 face me and face u, room , loan payable in 4yr,
each room 3k * 24= 72 plus agreement making 100k
=therefore, 100k * 10 room = 1m* 2yrs = 2million
remember loan plus interest = 3.8 million

that mean it will took mr A ALMOST 4yr to payoff his bank loan,
now Govermant comes in want him to collect 1yr rent =1million so the man has to wait after 4yrs b4 he can eat, ?

lol,,,,,,

so u are among those wicked landlords

please would the house collapse after four year?

or will be put for free of charge afterwards


UNA TOO DEY THINK OF UNA SEF ALONE.

@de Doctor,

then go to bank and borrow money to build ur own house,
what Government can not provide i did it within 8 month , to accomodate 10 diffirent family in ikorodu.
infact the facilities i put their is more that the money, compare to single room in island, that goes for 3k to 4k

Its a shame it had to come to this. This 2yr rent business is something that came about because landlords do not understand the whole point of a real estate investment. Theres no civilized country in this world where landlords forcefully collect rent in years and due to how cheap housing is in Nigeria and the lack of it landlords are looking at this as an opportunity to use this to tenants demise.

if nobody agrees to pay 2 year rent i guarantee you that landlords will start collecting six months anyways without this bill or not. What i think is reputable estate agencies will have to oblige so if you want a house get one through them instead of that greedy baba that wants to reap his investment in 2 years.

And moreover places like lekki 70% of flats are unoccupied landlords have started to see when push comes to shove say 1 year is a very good offer. This bill will filter out the greedy landlords from the reasonable ones.

Good development, I hope other states follows this step.

As long as weddings, pregnancies, cement prices and bank interest rates have all booked a ticket aboard the same ship you may as well rename '6 -month rent edict' the Titanic. Haba, this is economics 101.

Ultimately demand and supply will decide the course of events, but the legislations will surely help tenants negotiate better.

Secondly,the legislation will reduce investment into the housing sector by private entities, so government should start investing massively.

damola1:

hmmm, una don start,

Start wetin? for the records, I'm not an advocate of mandatory 2 years' rent. However I wa sjust bothered that the law did not protect the landlord from delinquent tenants.

The government should allow market forces to determine rent; just like it is happening in Lekki - Ajah axis; This rule is easily circumvented; especially where demand is more than supply; A landlord can easily demand more as security deposit.
LASG makes billions from lands usage; if those revenues translates into more affordable housing, then there wouldn't be any need for such laws,
Aside not all populist laws are beneficial, what protection does the landlord get in cases of tenant defaults etc.

The First law of doing business in Nigeria is ''don't trust anyone''. This is because the integrity of a majority of people are questionable; tenants are a pain in the ass when it comes to rent payment. Court process costly and largely ineffective. other countries have monthly rentals cos they're are sufficiently advanced to hold people accountable. A great majority of Nigerian landlords depend on rent as u depend on ur salary. From experience I can't fault them for demanding 2 years rent. End of story.

@ayubam ,
please i will need your advise, my landlord is about increasing his rent and service charge to more than 60% of the rent , i want to take up the fight myself ,
my email is akin ( underscore) rochdale ( at) yahoo.com.

Thanks

my advice for landlords should be sign a years contract when tenant moves in to the house to comply with the rules and after that sign 6 month contracts and make sure there is a clause in there that says on the next day after the contract expires landlord reserves the right to boot you out of his house without warning. this is legal because the contract is no longer binding. Protects landlords and tenants , that way nobody owes anybody anything.

SIMPLE AND SHORT .

@tiwantiya

if you have a contract that has not expired he cant do that until the time comes to renew the contract. If you have no legal agreement either pay or move out .

I was told you pay only one year rent in ibadan.lagos house rent is too much

I think the law is silly and questionably. i am on both side of divide as tenant and landlord so i feel the pain of both. My questions to Lagos state Government?

1. Is Tejuosho Market and newly completed shopping outlets is Oshodi and other parts of Lagos rented out at that rate?
2. Is Marwa garden and other Housing units build by Lagos Govt, let out at that rate.
3. Has land use charges on landlords been reviewed? its still exorbitant with LG workers threatening landlords
4. Will this law also compel the prices of cement, roofing sheets, Planks and demands of "omo onile"?

Its good if it can be implemented anyway, but Gov. Fashola himself knows better. The best bet is keen competition. We saw it Nitel and GSM, NTA and other T.V stations and even BRT and Molues.

Fashola should build his own housing units all over Lagos state and let it out at that rate. People will abandon the landlords and go to Fashola's housing estate and the Landlord would be forced to lower their rates or have goats live in their houses.

There must be an alternative for any monopoly to be broken. BRT is a good example, that should be case across all sectors.

this bill will be useless if the following measures are not implemented

* bulding materials must be cheap, especially cement. I cannot build my house in agony and expect me to take peanut. It is very very very expensive to build in Lagos.
* government needs to involve in massive low-cost housing
* agressive infeastructural development in rural areas of Lagos State e.g. Ayobo, Ikorodu, Ijede, etc so that the congested areas of the state can be decongested.

Another thing is that, does the bill contain a fixed rate? if not, a landlord can decide to rent out his 1 room apartment for 5k/month. Back to square one. No difference

Government should learn to take wholistic measures on a particular problem or issue, not to just bring one stupid bill without considering others. Yaba market was burnt down by government and they're now selling for almost 5m. How many trader in Nigeria can afford that??

God have mercy in this country.

FASHOLA FOR PRESIDENT 2015 - FOREVERRRRRR.

I DEFINATELY LOVE THE FORWARD THINKING NATURE OF THE MAN. THIS BILL IS VERY NECESSARY. LANDLORDS EXPECIALLY IN LEKKI VE BEEN ABUSING THE 2YRS THING, EVEN WITH HOUSE TO LET EVERY WHERE THEY STILL DEMAND TWO YEARS RENT CAUSE OF GREED.

NEVER RETURNING TO MY STATE. I LOVE LAGOS STATE

Very good one, I hope Fash signs the bill.

Under the new Tenancy Bill, it is unlawful for a landlord to demand or receive rent from a sitting tenant that is in excess of six months, in the case of a monthly tenant, or one year, in the case of a yearly tenant. It is also considered a crime for a sitting tenant to offer or pay rent in excess of one year, for a yearly tenant, and six months, for a monthly tenant.