Mixed Reactions As Lagos Sets To Enforce Monthly Rent From 2022

Lagos state governor, Babajide Sanwo-Olu has revealed that his administration will look to enforce monthly rent payments to help reduce the financial burden placed on home occupiers.

Gov Sanwo-Olu made the disclosure during the inauguration of 744 units Lagos Home Ownership Mortgage Scheme (Phase one) in Sangotedo.

“The state government is set for the enforcement of a monthly tenancy on property occupancy from 2022. It is confirmed that the percentage of residents depending on tenancy arrangements for housing in Lagos State is quite high.

While building homes for those with home ownership dreams, we are also determined to cater for numerous others who may not have plans to own homes but have immediate needs for decent shelter.

The monthly tenancy is a pro-people plan to reduce the financial pressure of yearly rent on tenants. The goal of this policy is to equate rental arrangements with the mode of earning which is by and large monthly.

We have thought through this policy and an agreement has been reached by representatives of tenants, financiers and the state government. This however should not be a cause of discontent or alarm for landlords or real estate agencies. Adequate legislative review is being done to ensure that rental default is reduced to the barest minimum.”

Following Gov Sanwo-Olu’s disclosure, social media users knocked the idea, saying that there are more pressing issues to face. Others also wondered how he was going to enforce the policy.

@officialjioke How about your government’s start paying hourly too?

@ceemplybecca There are other very important and serious issues on the ground…na this one u won enforce ?

@emmanuel.c.chijioke Some tenants don’t like monthly rent instead of “enforcing” why can’t you just make it an option for those that want it. Are you people madt in this country why does everything have to be forced

@iteegoigbo You guys want to imitate the west without building an economic system that operates like the west.

@yetundebakare try to enforce payment of salaries as at when due as well ?

@jojo_nelson Soon we will force government to provide steady power supply, water and security. They must do something about inflation, affordable healthcare, make public school compete with private school thereby forcing private school to reduce their price.

@gemmys Na your house? ?

@oluwaseyanu You are focusing on the wrong thing, mr governor ??‍♀️??‍♀️??‍♀️??‍♀️??‍♀️??‍♀️??‍♀️

Others flagged the idea of the monthly rent as a bad idea, saying,

@adinduuzo You guys don’t know what you are up for! Monthly rent doesn’t give room for unemployment. You have to always be on your toes. You see why life abroad is not easy!

@therealemile Landlords will still increase the monthly rent and make things unbearable for tenants

@oscarlante and you think Landlords are stupid?? They will enforce an increment too. Pay 3m per annum or pay N275,000 monthly… you decide! #OpportunityCost

While others support the Governor’s plan, hailing him on the month rent policy

@ozoemenaonochie If this man should be allowed to rule Lagos without the interference of God fatherism he will make a good Governor

@susy_badgirl I think monthly rent payment is better than yearly…

@iamhenrychidi If this is d only thing u do for us we Will be forever grateful

@ngo.zee I think this is the best for Lagos residence, but it should be equivalent to what we’ll be paying monthly ooo

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