The Oyo State Government has engaged the Estate Rent and Commission Agents’ Association as part of efforts to address escalating rent costs and commission-related exploitation within the housing sector.
This was disclosed in a statement released on Thursday in Ibadan by the Commissioner for Information and Civic Orientation, Dotun Oyelade.
Oyelade explained that the meeting between the state government and representatives of the association, held on Wednesday in Ibadan, was aimed at safeguarding tenants and sanitising the housing sector across the state.
He noted that the government delegation was led by the Commissioner for Lands, Housing and Urban Development, Mr Williams Akin-Funmilayo, while the association was represented by its chairman, Mr Mutahir Okekunle, alongside other executive members.
According to Oyelade, Akin-Funmilayo emphasised the need to regulate the activities of house agents, which informed the government’s engagement with the association’s leadership.
The commissioner stated that although the government cannot fix rental prices charged by property owners, “such practices can be regulated by law”.
He recalled that the State House of Assembly had deliberated on a similar matter during its sitting on Monday and indicated that legislation regulating estate agents’ activities would soon be enacted.
“So, before this happens, we have to discuss and develop a position that will be presented to the House of Assembly to guide its deliberations”, Akin-Funmilayo said.
He urged members of the association to articulate a clear position on the matter, which would be forwarded to the House of Assembly for further engagement.
Akin-Funmilayo added that it would be inappropriate for the ministry to unilaterally determine the percentage charged by agents.
“Rather, practitioners in the field should provide guidance, which the ministry will review, form opinions on, and develop recommendations to be forwarded to the House of Assembly for consideration,” he said.
In his remarks, Okekunle praised the state government, observing that many of its current policies have positively impacted the association’s operations.
He said the association was aware of the concerns raised and had been taking steps to address them.
Okekunle noted that inspection fees were among the means through which some unscrupulous agents exploited prospective tenants and appealed to the government to assist the association in eliminating such elements from its ranks.
Meanwhile, previously reported that the Managing Director of Stallion Cardinal Homes, Dr Waliu Adeoye, warned that Nigeria’s rental housing market is facing mounting pressure, with rents in Lagos and Abuja increasing by as much as 20 per cent annually in some areas.
Adeoye said the trend has deepened affordability challenges for tenants, stressing that “most urban Nigerians are renters, and the sector is in crisis.”
He also noted that the requirement for one to two years’ rent upfront has become “a significant barrier to housing access,” adding that effective implementation of ongoing reforms is essential to easing the burden on tenants and improving long-term housing affordability.
