In a progressive move to ease the financial burden of renting, the Lagos State House of Assembly has proposed cutting agency fees from the current 10% to just 5% of annual rent. Speaker Mudashiru Obasa, speaking through Rep. Stephen Ogundipe during a public hearing, said the change is part of a broader effort to fix the state’s housing crisis and regulate the landlord-tenant relationship.

What’s in the Proposed Bill?

• Section 3(4): The bill stipulates that “a commission or agency fee … shall not exceed 5%” of one year’s rent. Any breach could result in a refund, up to two years in jail, or a ₦1 million fine.
• It also seeks to establish standardized tenancy processes—covering contracts, rent payments, maintenance, and dispute resolution—aimed at reducing arbitrary and exploitative practices.