The Lagos State Real Estate Regulatory Authority (LASRERA) has announced a strategic partnership with the chairmen of all 57 local government areas (LGAs) and local council development areas (LCDAs) across the state.
The initiative aims to curb the excesses within the real estate sector and ensure affordability and transparency in housing transactions.
During a meeting held on Wednesday at the State Secretariat in Alausa, Ikeja, the Commissioner for Housing, Maruf Fatai, highlighted the primary objectives of the collaboration.
He stated that the partnership was designed not only to eliminate the exploitation of residents by certain property agents who impose exorbitant fees, but also to restore order in the built environment and make housing more accessible for the average Lagosian.
“Housing is a basic human need, and our commitment as a government is to make it both accessible and affordable,” the commissioner affirmed.
Echoing this sentiment, the Special Adviser to the Governor on Housing, Barakat Odunuga-Bakare, emphasized that agency fees must be regulated, noting that the acceptable range should be between zero and 10 percent. “Anything beyond that threshold is both exploitative and unacceptable,” she said.
Odunuga-Bakare also reiterated the state government’s long-term goal of transitioning to a monthly rent payment system, a move she described as pivotal to easing the financial burden on tenants.
In her address, she urged residents to only engage with property agents and developers who are officially registered with LASRERA.
“Doing business with unregistered agents exposes both tenants and landlords to significant risks,” she warned. “LASRERA exists to safeguard the interests of all parties involved in real estate transactions, and we remain steadfast in our mission to sanitize the sector.”
Residents were further encouraged to verify the registration status of agents and developers through the official LASRERA website. The public was also advised to use the platform to lodge complaints and report any violations or misconduct by property professionals.
