Fashola’s one-year rent legacy sets standard for Lagos rental market
[b]The one-year rent legacy of the Babatunde Fashola administration in Lagos State is, increasingly, setting standard for the rental market in the state as over 80 percent of landlords in most locations in the state is not only accepting, but also asking for one-year rent.

When the Fashola government, in August 2011, came up with a Tenancy Law, the intension was to protect tenants from exploitation of landlords, providing that it was unlawful for any landlord or his agent to demand or receive more than one-year rent from a new tenant.

The law also stipulates that it is unlawful and criminal for a landlord or his agent to demand or receive from a sitting tenant rent in excess of six months in respect of any premises, which means that those who are already tenants are not expected to pay more than six months in advance to their landlords.

The law places a fine of N100,000 or three years imprisonment on any landlord or new tenant who pays in excess of one year and N100,000 or three months imprisonment for any landlord who fails to issue a receipt to a tenant for payment of rent.

BusinessDay investigation shows that more property owners are embracing the one-year rent in many parts of the state, including the low income areas such as Ojo, Ikotun, Okokomaiko, Egbeda, Satelite Town, Orile, Iyan Ikpaja, Abule Egba, etc, and also some mid-income and up-market settlements like Ikeja GRA, Maryland, Ilupeju, Ikoyi, and a few locations in Lekki.

“I changed apartment just a couple of months ago and in eight out of the 10 residences I visited, the landlords asked for one-year rent,” Gbenga Adebanjo, who lives in a Lagos suburb, told BusinessDay.

Adebanjo said the search for a new apartment took him to various locations like Ejigbo, Idimu, Isolo and Oke-Afa, where he now resides, adding that though some landlords asked for one-and-half years, none asked for two years rent.[/b]

Contrary to arguments in some quarters that the new rent regime is driven by extraneous factors, the state government insists that the Tenancy Law is playing a role in changing the perception of landlords in the state, stressing that they have been enforcing the law.

Bosun Jeje, former commissioner for housing, disclosed that some people had been prosecuted and that some were being prosecuted under the law, noting that, “landlords in many parts of the state are voluntarily complying with the law and some are not; but on the whole, we have recorded considerable level of success.”


http://businessdayonline.com/2015/08/fasholas-one-year-rent-legacy-sets-standard-for-lagos-rental-market/

A legacy etched in stone and in the heart of Lagosians.



Sai Fashola...

Honestly this policy has been helpful to low income earners. We need more of this kind of policies from his successor.

Orobo I never see your action.

This space is dedicated to the most respected Governor in Nigeria. BRF I hail.


Let the wailer(s) wail

Who is trying to rent, because I know you folks don't open threads like this for no reason.

ydass:
Honestly this policy has been helpful to low income earner. We need more of this kind of policies from his successor.

Orobo I never see your action.

This space is dedicated to the most respected Governor in Nigeria. BRF I hail.


Let the wailer(s) wail

Orobo houseboy is still busy running foolish political errands...

Fashola was commissioning multiple projects every week and he still left hundreds in various stages of completion for orobo to commission, but orobo is playing silly politics and ignoring Fashola's projects instead of commissioning them..

Sharp

I never liked dat Ambode..The guy is really a mistake...

Yes.. Its a nice policy...

olatunji21:
I never liked dat Ambode..The guy is really a mistake...

it will get to a time when tinubu will lose lagos state to men from within APC.

1toRtoiSe1:
it will get to a time when tinubu will lose lagos state to men from within APC.

The nightmare is losing Lagos state tp PDP with their thoughtless political fights.

The law should be amended to reduce the paid rent-in-advance to 4 or 5 months.

olatunji21:
I never liked dat Ambode..The guy is really a mistake...

I've had this little doubt about the guy's intelligence in governing a place like Lagos since I first saw his picture online. But it's damn glaring the dude got no much clue. The deputy(Adebule) doesn't look any better too. God knows sha, one shouldn't conclude yet. As it is now, some LG chairmen might be better off than this present Lagos governor.

fashola is a proven thief.
if he stole 200 million building website,
how much did he steal from all those street light generators he was launching.
please, please, please, please,
do not defend thief.
that is why nigeria is going down.

CFCfan:
The law should be amended to reduce the paid rent-in-advance to 4 or 5 months.

No o! Otherwise those east side villagers will be rushing down to Lagos anyhow. We don't want that Joor.

likila:
fashola is a proven thief.
if he stole 200 million building website,
how much did he steal from all those street light generators he was launching.
please, please, please, please,
do not defend thief.
that is why nigeria is going down.

First, Fashola is not known for constructing boreholes rather he embark on large scale water project, that's a known fact..Moreso, Fashola knowing Ambode for who he is wouldn't dare leave such mess for Ambode to toy with... Common bro think.. 139Million for 2 borehole....