In a bold step to address the burden of high rental fees and irregularities in property transactions, the Lagos State Real Estate Regulatory Authority (LASRERA) has launched a partnership with the 57 Local Government and Local Council Development Area chairmen across the state.
The collaboration was announced during a stakeholder meeting convened by the Commissioner for Housing, Hon. Maruf Akinderu Fatai, who stated that the initiative seeks to curb excessive charges by property agents and bring order to the real estate sector.
“This partnership is about reducing exorbitant legal and agency fees and restoring transparency in the housing market,” Fatai said. “The goal is to ensure decent housing is not only a necessity but an accessible reality for every Lagosian.”
The Special Adviser to the Governor on Housing, Hon. Barakat Odunuga-Bakare, reinforced the government’s commitment to reform. She emphasized that agency fees must be capped between zero and ten percent — a measure aimed at curbing exploitation and fostering affordability.
“Our long-term goal remains the implementation of monthly rent payment models. We are determined to shift away from the burdensome annual rent system that has excluded many residents,” Odunuga-Bakare added.
She further urged residents to engage only with LASRERA-accredited agents and developers, warning that unregistered practitioners pose significant risks to both tenants and landlords. The agency assured that mechanisms are in place to verify agent credentials and file complaints through its official platform.
The move to involve council chairmen in regulatory oversight marks a decentralization of housing reforms, ensuring that local communities are directly involved in shaping a more affordable and transparent property market.
Residents are encouraged to visit www.lasrera.lagosstate.gov.ng to confirm agent registrations and report any violations.
This grassroots-driven initiative signals a renewed commitment by the Lagos State Government to tackle housing challenges and expand access to secure, affordable accommodation across the state.
