By Property renters and consumer rights advocates are calling on the government to enforce stricter regulations on real estate agents who make it difficult for tenants to secure housing at fair prices.
Residents in major cities like Lagos, Abuja, and Port Harcourt have raised concerns about skyrocketing rents, excessive agency fees, and hidden charges that make finding accommodation increasingly challenging.
Many tenants accuse real estate agents of exploiting the system by inflating fees, charging high commissions, and in some cases, fraudulently collecting rent from multiple tenants for the same property. Some agents reportedly take up to 30% in commissions from rental deals.
Real estate developer Taiwo Oke of Greenchell Homes and Properties highlighted the impact of these practices, stating that high agent commissions and unfair landlord policies are worsening Nigeria’s housing deficit.
Property experts are now pushing for a regulatory framework to hold real estate agents accountable, ensuring they are licensed and operate within ethical guidelines.
Advocates argue that without firm government intervention, housing affordability in Nigeria will continue to decline, making it even harder for average citizens to secure decent accommodation.
