Plans Are Being Made To Legalise Monthly Rent Payment
Soon, your landlord will not be able to demand more than a month’s rent from you.
Minister of Power, Works and Housing is championing this and he is known to have ended the compulsory 2-year rent demanded by Lagos Landlords.
Now, he is at it again. He is appealing to state governments to make it a law for landlords to collect rent on a monthly basis.
Punch reports that at the recently concluded 6th meeting of the National Council on Lands, Housing and Urban Development, one-month rent was a major focus.
The council is the highest gathering of senior officials from the federal and state governments, as well as experts in the housing industry.
Fashola’s argument is that the rent payment of up to a year in advance fuels inflation. He also believes it is unfair to ask a man to pay for a service not yet rendered.
“We must first of all question the practice, look at its strengths and weaknesses and its damage to the entire economy.
“For instance, as a minister, my salary is 900,000 naira; so, when you ask me to go and bring rent for two years in advance that I have not earned, and I actually bring it, shouldn’t you start worrying?” Fashola started.
“So, when you suddenly see that the prices of water, food, etc., begin to spike, are we really gaining? Because one way or the other, I’m going to get back what you collected from me. It’s a matter of conscience. Can you pay for a taxi before you board it?” he said.
In a 52-page report on the meeting of permanent secretaries, the officials also resolved that the one-month rent law would be enforced, as they noted that its enforcement would enhance access to housing finance.