A Bill for a Law to Provide for Tenancy Reform in Lagos State to Cap Advance Rent Demands and Regulate Estate Agents, and for Connected Purposes

The Lagos State House of Assembly is considering a bill to change the rules about renting homes in Lagos State. The bill says that landlords can only ask new tenants to pay up to six months' rent in advance, and renewing tenants can only be asked for up to three months' rent in advance. It also creates a system for estate agents to get a license from the state government and follow certain rules. Estate agents will have to pay to register every year, take courses to stay up-to-date, and follow a code of conduct. If they don't, they could be fined. The bill also says that estate agents can only charge 5% of the annual rent as their fee. This change will not affect people who are already renting homes.