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Lagos Proposes ‘rent To Own’ Home Policy - Properties (3) - Nairaland

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Re: Lagos Proposes ‘rent To Own’ Home Policy by talktimi(m): 11:48am On Jul 09, 2014
AWESOME POLICY. This is how Nigeriar housing policy is meant to be run especially by state governments though with the active involvement of mortgage institutions
Re: Lagos Proposes ‘rent To Own’ Home Policy by Nobody: 11:50am On Jul 09, 2014
People it only applies to government owed properties. Lagos State is going to be renting out its properties in line with this. It is like a mortgage scheme, the rent paid basically is like you paying monthly installments. After the agreed number of years that it takes it pay off the house ownership then goes to the tenant. It is a good scheme as only high income earners usually qualify for bank mortgages. The government houses will be of different prices so people can choose the one they can afford.
Re: Lagos Proposes ‘rent To Own’ Home Policy by Vavavoom(m): 11:56am On Jul 09, 2014
Our problem has never been policy formulation but policy continuation. What will happen when the opposition takes over is all too clear and expected.

For the interest of the masses policies such as the one in proposition should be agreed on by the government of the day with input from the opposition and signed off on a long term basis. PDP opposition in Lagos should look at the document in question and come up with measures to improve the policy. This way the risk associated with such investment will be further lowered and the urge to recoup investment quickly by investors will be withered. No one will put their money in an environment of policy flip-flops, at least not for long term.

Once citizens can afford the basics because of non-partisan and CLEAR policy formulation by government and contribution from the opposition then corruption, that which we all seek to end(reduce drastically) will diminish consequently from amongst the governed.

The incentive to partake in corrupt practice is fueled by lack of basic necessities. Once an okada rider understand that he has a government ( opposition and ruling) that cares enough to formulate policies that covers him to own a decent house that he can pay mortgage on for a long term period he will be less inclined to the lure of know social vices. The same can be argued for the fish seller, the mechanic and other hardworking citizens making up the larger populace.

These policies in themselves should be CLEAR and PROTECT the interest of the teeming social climbers on the lower rungs of the economic ladder. There will be little use if the effort by Fashola ends up in continued stratification of the weak with no measure of a future climb. The society must find a way to identify those in NEED - citizen demographic! Who needs what measure of help, and for how long?.

We can get out of the present decay/slump IF we choose to begin to plan conscientiously and not wait, hope to arrive at our desired destination. We need to realize that there's so much work to be done, and that we must have in place an effective follow-through plan for a stipulated timeline as to measure our progress. Let's start with knowing how many we truly are in number...
Re: Lagos Proposes ‘rent To Own’ Home Policy by ruemu(m): 12:22pm On Jul 09, 2014
the move is great...looking clearly you would see a ploy to organise the informal sector tax system in lagos..
it mean more tax

eko i lee
Re: Lagos Proposes ‘rent To Own’ Home Policy by 9jatatafo(m): 12:42pm On Jul 09, 2014
Gov Fash wants to use this to calculate how much this group of people is making so that he will tax them. All na wash!
Re: Lagos Proposes ‘rent To Own’ Home Policy by Ayanfe01(f): 12:48pm On Jul 09, 2014
I pray it work ooooooo!
Re: Lagos Proposes ‘rent To Own’ Home Policy by oskaaay(m): 12:58pm On Jul 09, 2014
Cool and encouraging to average lagosians. grin shocked grin

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Re: Lagos Proposes ‘rent To Own’ Home Policy by Nobody: 1:02pm On Jul 09, 2014
Good move by the LASG...










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Contact: 07057416624 or send a PM..cheers
Re: Lagos Proposes ‘rent To Own’ Home Policy by anitank(f): 1:18pm On Jul 09, 2014
It's about time..

When is it starting. I'd love to participate too

1 Like

Re: Lagos Proposes ‘rent To Own’ Home Policy by DeGreatWon: 2:02pm On Jul 09, 2014
Kudos to Fasola. He is about to take advantage of Islamic Mortgage. Unlike conventional banks, the Islamic mortgage is on "rent to own" scheme. As your pay your monthly rent, you are paying up for your house simultaneously. If Islamising the Lagos housing scheme will give all Lagosians affordable houses, I am totally in support. Other Nigerians should take advantage of Islamic Finance. You can contact me if you want to know about numerous advantages of Islamic Finance over conventional banking models.

1 Like

Re: Lagos Proposes ‘rent To Own’ Home Policy by Dreamflyin(m): 2:08pm On Jul 09, 2014
Alpet:
He said, “Commercial drivers earn between N45,000 and N70,000 monthly.

Oshe!

1 Like

Re: Lagos Proposes ‘rent To Own’ Home Policy by sunboy(m): 2:50pm On Jul 09, 2014
BRAV0O: pls what ar u trying to insinuate ?

he is Ibo. Don't get bothered, they don't own the east anymore na South West dey own.
Re: Lagos Proposes ‘rent To Own’ Home Policy by armadeo(m): 3:36pm On Jul 09, 2014
If you think that you'll pay rent to one landlord at egbeda and claim the house after some years you have another thing coming.

This scheme is for govt owned houses ONLY. The idea is good but let's see the houses. PS I wouldn't go to ikorodu just to be a house owner.
Re: Lagos Proposes ‘rent To Own’ Home Policy by fightforchange1(f): 5:14pm On Jul 09, 2014
Dope!!!!
Re: Lagos Proposes ‘rent To Own’ Home Policy by fightforchange1(f): 5:14pm On Jul 09, 2014
fightforchange1: Dope!!!!

Awesome
Re: Lagos Proposes ‘rent To Own’ Home Policy by vivaciousvivi(f): 5:20pm On Jul 09, 2014
" Your money will be saved monthly and put in the scheme"...really? We no do! grin grin grin

1 Like

Re: Lagos Proposes ‘rent To Own’ Home Policy by vivaciousvivi(f): 5:22pm On Jul 09, 2014
Dreamflyin:

Oshe!

Your occupation abi? We understand. Your secret is safe on Nairaland. wink
Re: Lagos Proposes ‘rent To Own’ Home Policy by neupert(m): 7:48pm On Jul 09, 2014
I just visited their site and was shocked to see that a room and palour goes for 4.34 million in odoragunshin (my mom's village)

http://www.lagoshoms.gov.ng/?u=d1&dd=27

Re: Lagos Proposes ‘rent To Own’ Home Policy by gistmelove(m): 8:13pm On Jul 09, 2014
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Re: Lagos Proposes ‘rent To Own’ Home Policy by Dreamflyin(m): 10:27pm On Jul 09, 2014
vivaciousvivi:

Your occupation abi? We understand. Your secret is safe on Nairaland. wink
..and what's bad with being a driver? Fake peeps.
..but like seriously, drivers riding hire purchase earns that much and boozes Kai kai?
Re: Lagos Proposes ‘rent To Own’ Home Policy by ibedun: 10:49pm On Jul 09, 2014
Boss13:
Point of correction, Lagos state is not a success story as portrayed by you. If your yardstick for measuring success is faulty, I will suggest you go buy another. Also, before you go on the normal rampage on comparing Lagos with other states, I will first love to clarify that Lagos state was once a capital of Nigeria, it enjoy the development of the nation's wealth, just like Abuja is enjoying. Lagos is deteriorating and not improving.
Fashola's runs the most secretive government in the entire Nigeria. The public is unaware of how much is generated in the state, what percentage of income is using for capital infrastructure and what is paid to tinubu. Be honest for once and answer if Fashola's is building new roads or repairing already existing roads. Be honest and ask if Fashola's administration is responsible for the water you used to have your bath this morning. Likewise, be honest and compare Lagos with the 70's & 80's where we had less social miscreants and not now where social miscreants is now legalized in Lagos. In my estate in Lekki, security services is being offered by OPC members (an association banned by the government). Personal income tax, Fashola's and his godfather's mercenaries are chasing is not implemented fairly. The stalwarts and big goons in the state do not pay personal income tax.
In education, WAEC & NECO result is an independent performance measurement tool. We have seen south-east states emerging with top results. Likewise, the recent strike/protest action by LASU students is also a yardstick to measure the governor. Why was the fees increased - nobody is yet to ask the governor.
Health, you can go and ask the state doctors who are queuing and finalizing preparations to go on their annual strike holidays as usually observed annually.
I commend the governor for running an effective public relations office that has been able to manage the press and also for threatening civil service officers not to speak with pressmen. Also, I express my disgust to the Nigerian media for being lazy and not doing enough investigations to uncover the secrecy that hovers around the Fashola's administration.
I will not want talk much about housing, the governor has said he cannot find cheap cement to build cheap houses. Hence, the houses the state is building are meant for the rich. Then ask yourselves, why the rich goons in Lagos state? The ones that don't even pay taxes, the ones Fashola has given lands in choice places, the ones still roaming the streets with Amber light and sirens when it has been banned.
The results of Fashola's administration are out there for all to see. Yet, we live in denial probably due to tribalism, sycophancy and nepotism.


BOSS13 - you no go die well. Tell me which part of Lagos state other than Lagos Island your federal government develop?

Eastern Marauder, why not go unravel the secret government in Anambra and those backward places before you open your gub here.

And why is Igbo people the only ones complaining of tribalism in Nigeria? I seldom hear Hausa, Yoruba and other ethnicity complaining about tribalism. It is high time Yorubas started responding "Yes I am a tribalist cause I love my people and will protect my ancestral land"

Yeye dey smell

2 Likes

Re: Lagos Proposes ‘rent To Own’ Home Policy by somwills007(m): 6:51am On Jul 10, 2014
Nice one
Re: Lagos Proposes ‘rent To Own’ Home Policy by Danearlsz(m): 1:51pm On Jul 10, 2014
yeye man, hw does d@ ends lasu strike, i doubt if hez a lagosian, stupid fella... mtcheeeeeeew
Re: Lagos Proposes ‘rent To Own’ Home Policy by hermosa(f): 3:19pm On Jul 10, 2014
Hopefully this scheme will come to abuja….
Re: Lagos Proposes ‘rent To Own’ Home Policy by vivaciousvivi(f): 5:45pm On Jul 11, 2014
Dreamflyin:
..and what's bad with being a driver? Fake peeps.
..but like seriously, drivers riding hire purchase earns that much and boozes Kai kai?

Who is fake? My friend sharrap dia! tongue
Re: Lagos Proposes ‘rent To Own’ Home Policy by Dreamflyin(m): 8:58pm On Jul 11, 2014
vivaciousvivi:

Who is fake? My friend sharrap dia! tongue

Haa.. peeps just love wahala oo. Go hide please, grand ma. Hubby and kids needs attention nah.
Re: Lagos Proposes ‘rent To Own’ Home Policy by vivaciousvivi(f): 9:18pm On Jul 11, 2014
Dreamflyin:

Haa.. peeps just love wahala oo. Go hide please, grand ma. Hubby and kids needs attention nah.

Hubby and kids already taken care of little one!
Re: Lagos Proposes ‘rent To Own’ Home Policy by Dreamflyin(m): 8:48am On Jul 12, 2014
vivaciousvivi:

Hubby and kids already taken care of little one!

Taa bu Saturday, please go do chores, madam.
Re: Lagos Proposes ‘rent To Own’ Home Policy by vivaciousvivi(f): 9:03am On Jul 12, 2014
Dreamflyin:

Taa bu Saturday, please go do chores, madam.

Chores ke? How can when I am a "grand ma"? smiley Yeye!
Re: Lagos Proposes ‘rent To Own’ Home Policy by HeadwayEvents(m): 10:17am On Jul 17, 2014
Alpet: Governor Babatunde Fashola of Lagos State on Tuesday said his administration would soon start a new policy that would enable Lagos residents to own their homes after paying rents for a specified period of time.
According to the governor, the new policy is known as “Rent to Own” initiative coming under the Lagos Home Ownership Mortgage Scheme. He added that the initiative would encourage more residents to participate in the state housing scheme.
Fashola said this during a special interactive session with artisans in the state in Ikeja, explaining that a research conducted by his team showed that traders, transport operators, bricklayers and fashion designers, among others in the informal sector could conveniently pay for the homes across the state.
He said, “The investigations indicated that most people in the informal sector could also afford the mortgage scheme, going by their monthly income and profit. So, the Rent to Own initiative will further make the scheme affordable for all and sundry.
“I urge you to apply for your choice homes in the scheme because government will, through the Lagos Mortgage Board, ensure that artisans benefit from the scheme. The board will allocate blocks of flat to you in accordance with your monthly income and profit to enable you take part in the scheme.
“What we need to do now is to help you order your record keeping in order for you to qualify. This is a new policy that is slightly different from the mortgage scheme itself, but will ultimately lead to mortgage. Your money will be saved monthly and put in the scheme.”
Fashola also took time to brief the participants on security measure put in place in the state and urged them to be involved in the Residents’ Registration and the Commercial Drivers’ exercises of the government.
Chairman, Lagos State National Union of Road Transport Workers, Alhaji Tajudeen Agbede, said average commercial drivers in the state could afford the homes and would participate in the scheme.
He said, “Commercial drivers earn between N45,000 and N70,000 monthly. This is a good development; the Rent to Own initiative will make the housing affordable to our members.”
Commissioner for Housing, Bosun Jeje, said the meeting was to encourage artisans to partake in the LagosHOMS.
Source- http://www.punchng.com/news/lagos-proposes-rent-to-own-home-policy/

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