Estate agents in Lagos State have faulted the bill proposed by the state’s lawmakers limiting their commissions from transactions made on property to 5 percent, saying the percentage provided in the bill on the floor of the Lagos State House of Assembly cannot cover expenses often incurred before the transactions are completed.
The realtors, who express dissatisfaction over the proposal, added the current economic challenges in the country remains another barrier which made the percentage unrealistic.
While appealing to the lawmakers to review the bill before them, they stressed that implementing such proposal will force them out of business after becoming unable to meetup with daily expenditures.
According to them, the existing 10 percent fee should be sustained as well as other improved welfare provisions for individuals and firms in the profession should be introduced.
The agents stated this during a public hearing organized by the legislators on the proposed bill tagged ”A Bill For A Law To Regulate The Regulation Between Landlords and Tenants Including The Procedure For The Recovery Of Premises In Lagos State And For Other Connected Matters”, held in Ikeja.
During the event held at the Lagos Assembly Complex in Alausa, Ikeja, other matters which include rent increase, accrued debts from outgoing tenants, currency for payment of rents and creation for a special court to hold cases between house owners and tenants, the attendees, which consisted of landlords, tenants and agents, urged the legislative arm to review the proposed laws for an efficient housing in the state.
The tenants expressed dissatisfaction on outrageous rent increase by landlords, urging the House to regulate the patterns of rent increase and also include in the bill, the necessities before an increase by a house owner.
The lessees also solicited the Lagos State Government to stop the house owners from accruing the bill by a previous occupier to the incoming occupant.
The landlords stated that the government should regulate quick notice on a tenant, claiming that renters have used the opportunity of a non-regulation to live freely on a premise.
The need to curb delay in court cases regarding ejecting a tenant was hammered by the house owners.
The property owners recommended that a special courts should be setup to address property issues particularly for quick verdict in the state.
The Majority leader for the House, Noheem Adams, disclosed that the event held to listen to people’s opinion before getting the bill enacted.
”Today’s public hearing is to hear from you on all the laws in the bill and then see where we can amend for the benefit of the people of Lagos.
”We will present your position on it to the Speaker of the House and update on it soon”
