The Governor of Lagos State, Babajide Sanwo-Olu, has said plans are in place to begin allowing monthly rental payments for accomodation in the state.
The governor made this known on Tuesday at the opening ceremony of the Third Lagos Real Estate Market Place Conference and Exhibitions Organized by Lagos State Real Estate Regulatory Authority at the Eko Hotel and Suites, Victoria Island.
The governor, who was represented by the Deputy Governor, Obafemi Hamzat, added that it would commence as soon as modalities for effective take off is completed, according to The Editorial.
Sanwo-Olu said, “The delay in the initial take-off date for the planned monthly rental payment for accommodation is as a result of government’s determination to ensure that all grey areas that can hamper the sustainability of the monthly payment scheme is addressed.
“What we have done is to return to the drawing board to re-examine the appropriate timing and best strategy that can be adopted to make the policy sustainable.
“The decision of the government on the monthly rental payment is to support tenants and landlords regarding rent remittance. The government cannot compromise its stance in protecting the interest of both house owners and accommodation seekers in all parts of the state.”
He noted that the new rent policy is to help reduce the burden of rent payment for Lagos residents.
