Olumofe Dele Oluwole praises the positive impact of Lagos State Tenancy Law 2025 on tenants
*** States that the new law provides tenants with unprecedented protection, relief, and empowerment in the real estate sector
Emmanuel KEHINDE ILORIN
In a groundbreaking statement, Olumofe Dele Oluwole has hailed the positive effects of the Lagos State Tenancy and Recovery of Premises Bill 2025 on tenants. According to Oluwole, this landmark legislation is set to revolutionize the rental market in Lagos, providing tenants with much-needed protection and relief.
One of the key highlights of the new law is the introduction of advance rent limits, which restrict landlords from demanding excessive amounts of rent upfront. Under the new law, landlords can only request up to 3 months’ rent for monthly tenancies and 1 year for yearly tenancies. This move is expected to alleviate the financial burden on tenants, allowing them to manage their resources more effectively.
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Another significant change brought about by the new law is the capping of agency commissions at 5% of annual rent, putting an end to exorbitant fees charged by estate agents. This reduction in upfront costs will be a welcomed relief for many tenants who have been struggling to meet these excessive fees.
Rent increases have also been a contentious issue for tenants, with landlords often surprising them with sudden hikes. The new law requires landlords to provide written notice before increasing rent, promoting transparency and fairness in rental agreements.
Furthermore, the law provides protection against illegal evictions, ensuring that landlords follow due process and obtain court orders before evicting tenants. This provision safeguards tenants from unscrupulous practices and allows them to enjoy their homes without fear of sudden displacement.
Additionally, the Lagos State Tenancy Law 2025 introduces efficient and transparent dispute resolution mechanisms, giving tenants a clear pathway to address any issues that may arise during their tenancy. The law also recognizes the importance of technology, allowing for virtual hearings and making dispute resolution more accessible than ever.
In his statement, Olumofe Dele Oluwole emphasized that the new law is a game-changer for tenants, addressing long-standing concerns and providing robust protections. By creating a fairer and more equitable rental market, the law ensures that housing security and fairness are accessible to all residents of Lagos.
As the city continues to grow and attract new residents, the impact of the Lagos State Tenancy Law 2025 cannot be understated. This legislation is set to shape the future of housing in Lagos, ensuring that tenants have the rights and protections they deserve in the rental market.
