The Lagos State Government has launched a new initiative to regulate estate agency and legal fees, particularly at the community level, as part of efforts to curb excessive charges in the property market.
The Lagos State Real Estate Regulatory Authority (LASRERA) has now joined forces with Community Development Associations (CDAs) and Community Development Committees (CDCs) across the state’s 57 local council areas and development authorities.
Speaking at a recent stakeholders’ meeting, Commissioner for Housing Maruf Akinderu-Fatai described the collaboration as a practical step toward restoring sanity in the real estate sector. He emphasized that reducing arbitrary charges is key to making housing more accessible and affordable for residents.
“Housing is a fundamental need. Our goal is not only to reduce unjustified fees imposed by some agents but to also ensure more Lagosians can afford decent accommodation without facing exploitation,” Akinderu-Fatai said.
Backing the commissioner’s remarks, the Governor’s Special Adviser on Housing, Barakat Odunuga-Bakare, reaffirmed that the state’s policy limits agency fees to a maximum of 10 percent. She warned that any agent demanding fees above that threshold would be considered in violation of the law.
“Agency commissions must not exceed 10 percent this is non-negotiable. Anything above that is exploitative and unfair,” Odunuga-Bakare stressed. “We are working toward a housing system where tenants can eventually pay rent on a monthly basis. That’s the direction we’re heading.”
She also urged Lagos residents to engage only with agents registered under LASRERA, noting that dealing with unregistered practitioners exposes both tenants and landlords to avoidable risks, including fraud and tenancy disputes.
According to Odunuga-Bakare, the partnership with CDAs and CDCs is critical to extending LASRERA’s regulatory presence to grassroots communities, where informal housing deals are often prevalent and harder to monitor.
“The aim is to make sure regulatory practices are not just confined to the urban centres but reach every corner of the state,” she added.
Residents are encouraged to verify the registration status of property agents on LASRERA’s official website and to report any violations or suspicious activity. The government says it remains committed to promoting transparency and fairness in the real estate sector while protecting the interests of both renters and landlords.
