🏛️ What the Law Says
The Lagos State Tenancy Law (2011) caps agency and legal fees at 10% of the annual rent each. Landlords or tenants must not pay more, and if both agency and legal fees apply, the combined cap is 20% of annual rent
LASRERA Law similarly regulates estate practitioners, barring additional charges outside that 10% commission
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🗓️ Timeline & Official Actions
April–June 2025:
The Housing Commissioner, Moruf Akinderu-Fatai, and Special Adviser Barakat Odunuga‑Bakare hosted stakeholder meetings with professional bodies (NIESV, REDAN, AEAN, ERCAN) urging them to cease illegal fees and enforce the 10% cap
LASG banned extras like “caution,” “inspection,” and “finder’s” fees—labeling them unprofessional and exploitative
A press briefing on May 15 reiterated: any charge above 10% is illegal; residents were urged to report offenders
June 15–26, 2025:
Governor Sanwo-Olu’s administration, through LASRERA, strongly warned unregistered individuals posing as agents; urging enforcement and public reporting.
🔧 Enforcement Mechanisms
LASRERA oversight:
Agents must be registered; violators risk delisting, fines, and prosecution.
The public is encouraged to report landlords or agents violating fee limits.
Stakeholder collaboration:
Estate associations pledged to educate members and lobby for compliance; the Nigerian Bar Association may be involved in follow-up forums.
New payment systems:
Promoted monthly and quarterly rent payments, instead of lump-yearly sums, to ease financial burde.
📌 Why It Matters
Consumer protection: Shields tenants from hidden/extortionate rents.
Transparency: Forces estate agents to limit costs to 10%, avoid surprise fees.
Professional accountability: Unregistered “quacks” are being eliminated, improving sector credibility.
🗣️ Public & Tenant Voices
Reddit users highlighted widespread illegal charges and real estate chaos:
“The fees are crazy (documentation fee, lawyer fee 5% of the property price, realtor fee …).
“My major concern is the agency fees. It’s just too much.”
These sentiments show how excessive fees fuel public outrage and pressure for reform.