Landlords Should Start Collecting Monthly Rent, Not Yearly – Sanwo-Olu

With the high level of housing deficit in Lagos, there maybe need for stakeholders in real estate to work out modalities for residents to pay house rents on a monthly basis instead of annually, Sanwo-Olu said.

The Lagos State Governor made the call during the Policy Roundtable Dialogue with key stakeholders in the Real Estate Sector in Lekki on Thursday.

According to Sanwo-Olu, a situation where residents face pressure once their rents were due was not palatable.

He also noted that the housing deficit in Lagos State was huge and urged private practitioners to play by the rules.

”The real estate can contribute 20 to 25 per cent to the GDP. We need to have clear data where landlords would no longer be demanding one year rent ahead.

”Landlords should see how they can reduce yearly rent to monthly. The housing deficit in Lagos is huge and unacceptable, but government cannot do it alone,” Sanwo-Olu said.