7.9 C
New York
April 18, 2024
Worship Media

Lagos vows to enforce monthly rental policy

The Special Adviser to Lagos State Governor on Housing, Barakat Odunuga-Bakare, has stated that the states monthly rental scheme will be enforced before the end of 2024 or early next year. She said this during a press briefing of the Lagos State Real Estate Regulatory Authority in Ikeja, Lagos. She said, “We all see what is being done in other climes, rents are collected monthly. Hence, we are looking and hoping that before the end of the year, or by early next year, we will be able to implement the policy of monthly rental. Also, the rental would be charged according to tenants earnings. “The good part about it is that we would be test-running it first within the public sector since we can ascertain how much everybody is earning, and once we see that it works in the public sector, we can now push it out to the private sector.” Odunuga-Bakare also stated that the N5bn allocated for the monthly rental scheme was still intact. She continued, “The last administration that initiated the monthly rental scheme was coming to an end when the scheme was to be introduced.  Now, we have a new administration and the governor wants the scheme to come into effect by the end of this year or early next year.” Recall that in 2021, the Governor of Lagos State, Babajide Sanwo-Olu, had said the current rental model, in which tenants pay yearly rent in advance to property owners, has become inadequate to address contemporary realities in the housing sector.The post Lagos vows to enforce monthly rental policy appeared first on Linda Ikeji Blog. Click Here to Visit Orignal Source of Article http://www.lindaikejisblog.com/2024/3/lagos-vows-to-enforce-monthly-rental-policy-2.html

Related posts

Kanye West declared ineligible for ballot in three more states after missing deadline


Bare knuckle fighter Justin Thornton dies six weeks after a brutal 19-second KO left him partially paralysed


Kemi Adetiba slams man who said Busola Dakolo used her rape case against Pastor Fatoyinbo to get Instagram verification


This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy