Tenants in Osogbo, Osun State, are calling on the government to regulate rent increases, which they say are becoming unbearable amid a struggling economy.
Residents told the News Agency of Nigeria (NAN) that landlords have drastically raised rents, making housing unaffordable, especially in a state largely dependent on civil service income.
Mr. Emmanuel Ayanda shared that his rent jumped from N180,000 to N400,000 for a dated three-bedroom apartment, forcing him to relocate. Miss Feyisayo Akomolafe in Ogoluwa reported a N150,000 hike, from N450,000 to N600,000, warning it could lead to mass homelessness.
In Ofatedo, Mr. Jeremiah Obeh said his rent increased by N200,000, now at N1.1 million. Miss Glory Adeola’s self-contained apartment rose from N250,000 to N320,000.
While some landlords blame inflation and the economy, others admit exploitation. Mr. Peter Osinubi acknowledged the burden on tenants, saying only government intervention can restore balance. Mr. Oladele Bode echoed that landlords are reacting to economic pressures.
Mr. Abiodun Olowoporoku, Chairman of the Association of Real Estate Managers, said some landlords act out of greed and bypass formal channels, undermining efforts to regulate rent.
Relief may be coming as the Osun State Estate Agency Regulatory Authority Bill 2024 has passed the State House of Assembly and awaits the governor’s assent.
The bill aims to curb arbitrary rent increases and eliminate unlicensed agents, promoting fairness in the housing sector.
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