Has Your Landlord Increased Rent Again? Read This
- September 10, 2014
Surely some of us do not know about the laws guiding rents in Nigeria let alone know it exists.
RENT CONTROL is a residual matter under the 1999 Constitution. As a result, most of the States in Nigeria have their individual Rent Control Laws, which for the most part have similar provisions as the Rent Control Law of Lagos State.
In Lagos State of Nigeria, the applicable Law is the Lagos State Rent Control & Recovery of Residential Premises Law, 1997.
The Lagos Rent Control Law is intended to mandatorily regulate the rentals that can be charged for residential apartments in certain areas of Lagos State, whose residences were at the time of the enactment of this Law not charging annual rental value in excess of N250,000 (Two Hundred and Fifty Thousand Naira).
SO HOW OFTEN SHOULD RENT BE REVIEWED?
This Law prescribes the standard rent for each type of residential accommodation, in different locations of the State, with the caveat that the standard rent shall only be subject to upward review of not more than 20% every three (3) years or at such other duration as the Governor of Lagos State may prescribe (So if you have a Landlord that increases rent every year better put on your dancing shoes, because his ass can be sued).
SHOULD RENT BE PAYED IN ADVANCE?
The Lagos Rent Control Law also makes it unlawful for the Landlord, or his agent, or the Tenant to demand or pay rent in excess of the standard rent. It is also unlawful for a Landlord to demand or receive the prescribed standard rent for a period in excess of six (6) months from an incoming/new Tenant (those of us that have been paying rents for Two (2) years upfront, PLEASE WAKE UP!!!)
It is equally unlawful for a sitting Tenant offering to and paying the standard rent in excess of a period of three months in respect of any type of residential accommodation to which the Lagos Rent Control Law applies.
Any person who receives or pays rent in excess of the standard rent that is prescribed by Law is guilty of an offence and liable on conviction to a fine of N50,000.00 (Fifty Thousand Naira) or to a term of six months imprisonment.
The issue of AGENCY AND LEGAL FEES is not excluded, the Lagos Rent Control Law requires that, Solicitors and estate agents must not charge more than 5% as Solicitors fees, for preparing Tenancy Agreements, and 5% as agency fees respectively. Where a higher percentage of fees is charged and received, it shall be unlawful. The penalty on conviction for this unlawful charge is a term of imprisonment for two (2) years.
If we can know more about our rights and Laws, then we could have a better way of living. Have a nice day.