RESOLVING THE LEGAL IMBROGLIO IN THE LAGOS STATE TENANCY LAW OF 2011
Authors:
OLANREWAJU Pius
Publication Type: Journal article
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Abstract
Lagos is an emerging mega-city and as such lots of merchants and persons migrate to the environs. This thereby puts a toll on population increase in the state and there is high demand shelter which is one of the basic needs of life. As a result of the shortage of housing due to high demand and low supply, properties are grossly overvalued and the rental rates are in most cases unjustifiable. The rent clauses usually contain an initial payment of about 2 -3 years for tenancies apart from the legal fees and the agency fees and an abuse of the rent review clauses. In checking the various excesses of the landlord, the Lagos State Government has over the years allowed for a limitation of the rents through various rent laws . Recently they passed the Tenancy Law 2011 which has many significant provisions relating to rent especially advance rents.