…Partners with 57 LG, LCDA Chairmen to enforce fair housing charge
…Agency, legal fees now capped at 10% — Lagos Housing Commissioner

By Sodiq Adelakun

The Lagos State Real Estate Regulatory Authority (LASRERA) has formalised a significant partnership with the 57 Chairmen of Local Governments and Local Council Development Areas (LCDAs) in a bid to curb excessive agency and legal fees associated with property transactions across the state.

Speaking at a stakeholders’ meeting held in Ikeja, the Commissioner for Housing, Hon Maruf Akinderu-Fatai, said the initiative is aimed at addressing what he described as “exploitative” charges imposed by real estate practitioners who have, he claimed, turned housing into a burden for ordinary residents.

“This is not just about fees; it is about restoring sanity to the built environment. Housing must be made accessible and affordable for the average Lagosian,” the Commissioner stated.

He reaffirmed the Sanwo-Olu administration’s commitment to removing unnecessary financial barriers in the real estate sector, beginning with stricter oversight of agents and landlords.

Also speaking at the event, the Special Adviser to the Governor on Housing, Hon Barakat Odunuga-Bakare, announced that agency fees must not exceed 10 per cent of total rent, describing any amount above this threshold as “unacceptable and predatory.”

“We are working towards a system where tenants can pay rent monthly. This will reduce the financial strain on residents. In the meantime, we strongly advise that transactions are conducted only with LASRERA-registered agents,” she said.

Odunuga-Bakare also cautioned the public against dealing with unregistered property agents, stating that they pose significant risks to both tenants and landlords. She encouraged residents to report any violations through the LASRERA website.

The agreement with local council chairmen grants LASRERA extended reach beyond formal estate developments, empowering it to enforce standards in informal rental markets across streets, markets, and residential neighbourhoods.

“LASRERA is now present at the grassroots. This is not merely a policy shift, it marks the beginning of robust enforcement,” Odunuga-Bakare concluded.