Rent Control Lagos Nigeria - Sanity in Lagos Real Estate Market
Rent control Lagos Nigeria - The Lagos state government recently announced plans to enact real estate law to establish some level of rent control in Lagos Nigeria and prevent arbitrary rent increases by landlords.
The rent control law is coming at a time when many Lagos residents are asking serious questions as to what the government is doing to address the financial challenges faced by Lagosians seeking a roof over their heads. A simple apartment search can quickly become a nightmare in Lagos as potential tenants move from property to property in the blazing sun only to discover that they cannot afford even the simplest of apartment either because the rental price is too high or the landlord is demanding a payment tenure that is ridiculous.
People on the opposing side of the divide argue that tenants have rights too just as landlords have rights. They ask in anger, "what about tenant rights? What about simple straightforward laws of morality? What happened to love of neighbour and the spirit of brotherhood in Nigeria? Is it all about the money?"
Questions, questions, and more questions.
The argument rages on and hopefully the proposed real estate will address the concerns of people on both side of the divide.
And yes, tenants, potential tenants, and potential buyers of real estate in Lagos Nigeria should not be ripped off by capitalist-minded profit crazy real estate investors.
I suspect there is a balance somewhere that pays both parties. Hopefully the proposed law by the government will be fair to all parties concerned.