Homeowners who are discovered to have rented out their apartments for excessive prices will face penalties, the Lagos State Government announced on Thursday.
In a statement, the state housing commissioner Moruf Akinderu-Fatai, said allottees who engage in this behavior would face harsh consequences from the government.
The excessive rent that homeowners charge, he claims, has been the subject of complaints from residents of several public housing schemes.
He added that the state government will withdraw allocation from culpable homeowners.
The commissioner said, “The essence of asking allottees to make a five per cent down payment and spread the remaining amount for ten years was to make life bearable for Lagosians.
“This is what Mr Governor wants to achieve, but some people seem to be taking Mr Governor’s magnanimity for granted. They are renting those apartments out to make money. The question is why do people try to inconvenience others when the government intended to make life bearable for citizens?”
Akinderu-Fatai urged the estates’ facility managers and association members to notify the ministry of any negligent allottees, threatening to have those homeowners’ units taken away from them and their money returned.
The commissioner gave an assurance that the State Government would keep providing outright purchase and rent-to-own platforms to meet the demands of first-time purchasers who are in desperate need of such housing amenities.
