Lagos May Cap Rent Fees as Enugu Introduces Bill to Regulate Tenancy Charges

Lagos May Cap Rent Fees as Enugu Introduces Bill to Regulate Tenancy Charges

Following Enugu’s lead, Lagos might be next to regulate rent fees. Enugu State House of Assembly has introduced a bill to curb excessive agency and legal fees associated with tenancy agreements. The proposed legislation aims to:

• Cap Agency Fees: Limit agency fees to 10% of the rent payable by prospective tenants.
• Abolish Caution Fees: Eliminate charges imposed by landlords that are rarely refunded at the end of the tenancy.
• Protect Tenants: Establish clear eviction timelines and notice periods to prevent forced and fraudulent evictions.
• Certify Land Agents: Require individuals operating as land agents or property managers to obtain proper certification.

Violations of this law could result in fines of up to N500,000, a six-month prison term, or both. Will Lagos follow Enugu’s footsteps in regulating rent fees? Only time will tell.