csrreporters 
The Lagos State House of Assembly is considering a new Tenancy Bill aimed at protecting tenants from exploitation and easing the financial burden of securing accommodation.
Speaking in Lagos, the Chairman of the House Committee on Information, Hon. Stephen Ogundipe, said the bill was crafted in response to widespread public complaints about high agency fees and recurring disputes between landlords and tenants.
One of the key provisions of the proposed law is the reduction of estate agency fees on annual rents from 10% to 5%. Ogundipe noted that this measure would not only bring relief to tenants but also improve landlord-tenant relations and stimulate real estate investment in the state.
“The bill is designed to protect the rights of both tenants and landlords,” Ogundipe said. “It will reduce disputes, promote mutual understanding, and clearly define obligations, thereby fostering peaceful coexistence and large-scale housing development.”
The lawmaker added that the bill would also help restore investor confidence in the Lagos property market and encourage new financiers to participate in the sector.
Other provisions of the proposed legislation include requiring landlords to insure their property against loss or damage, and granting them the right to inspect and maintain premises after giving prior notice to tenants.
The bill was subjected to a public hearing on Wednesday, attended by key stakeholders including members of the Lagos Assembly, the Commissioner for Housing, representatives of the Nigerian Bar Association, estate surveyors, developers, and realtors.
Ogundipe appreciated the contributions of stakeholders, noting that their input would help shape a balanced and progressive tenancy law for Lagos.