The Minister of Power, Works and Housing, Babatunde Fashola, has advocated for an end to the prevailing practice of landlords collecting rents in advance as from today, July 6, 2018.
Fashola made this charge on Thursday at an event for real estate operators in Abuja while speaking on the theme, ‘Innovative housing finance model as a catalyst for home ownership,’ where he hit out at rent advance payment saying it didn’t add up and not obtainable in developed countries.
The minister called for a landlord-tenant-employer’s relation, whereby the landlord reaches an agreement with the tenant’s employer to ensure the rent is deducted on a monthly basis from the tenant’s salary.
His word, “If you ask me to go and bring in advance one year’s rent from what I’m going to earn monthly in arrears, how feasible is that?
“Even my salary as a minister is paid at the end of every month, not even at the beginning; then you the landlord is now asking me to bring next year’s salary, and we’re complaining that there’s corruption.
“I tried to intervene as a governor, passing the resolution to our own council in Lagos then, but the outcome was not peaceful, because there were landlords in our midst.”