Agents Criticise New Lagos Tenancy Law

ome estate agents in Lagos State have reacted to the state’s new Tenancy Act, saying it might have a negative impact on estate business in the state.

They told newsmen that the non-payment of agency fees and commission under the new law would’ ‘kill their business”.

The bill was assented to by Gov. Babatunde Fashola on Aug. 8 and it imposes a fine of Nl00,000 on any tenant who pays fees to agents or landlords.

An estate agent in Akowonjo in Alimosho Council Area, Mr Adefemi Oluyole, expressed the fear that many agents might be forced to close shop when the law was fully operational.

“I do not know how we are going to survive because the commission we receive is what we use to-take care of our families.

“Sometimes, five of us share N30,000 collected from prospective tenants as agent fee or commission and that is how we have been surviving,” he said.

Another agent, Mrs Grace Yusufu, said the job had been her only source of livelihood, adding “I have been working as an agent since my husband died about four years ago.

“The job of an estate agent is an essential service because we help busy prospective tenants to get accommodation,” she said.

Mr Daniel Ugochi, who spoke to The Tide source at Baruwa, a Lagos suburb, appealed to the

government to give agents more time to attend to clients they had collected some money from before the advent of the law.

“Some agents have collected money from prospective tenants just before the law came into effect and are still looking for accommodation for them.

“There should be a time frame like six months for us to get houses for such persons. Otherwise, they may lose their money,” he said.

On his part, Alhaji Yekini Jimoh said agents should focus on other areas such as real estate and selling of landed property instead of complaining about the law.

Jimoh said: “What I intend to do now is to be involved in more buying and selling oflanded property because it is a more lucrative.