Trouble looms for Landlords as Senate moves to regulate rents

Hard times await Shylock Landlords in Abuja as Senate works on legislation to regulate rents from one or two years first payment by tenants, to three months and subsequent monthly payments.

The planned  legislation is contained in a bill sponsored to that effect by Senator Smart Adeyemi ( APC Kogi West) and passed first reading in Senate during plenary on Tuesday.

Explaining the intendment of the bill to journalists after plenary , Senator Adeyemi said it is targeted at cushioning effect of outrageous tents on properties on poor residents in the Federal Capital Territory.

According to him, the bill when fully considered and passed into law, will regulate rent collections  from tenants to three months at first instance and subsequent monthly payments as against one , two or three years first payment being collected by property owners now with subsequent yearly rent payment renewal.

“Many residents of FCT are finding it very difficult to cope with huge rent payment , the reason why many of the Houses built for such purposes are empty.

” The law is targeted at welfare and wellbeing of the downtrodden , majority of whom elected those holding  public positions into offices.

“Some landlords always insist their tenants pay for one year or two years rent. That is wrong. By this bill, Nigerians especially Abuja residents will now be paying rent on monthly  basis after the expiration of the initial three months.

“The law we are proposing stipulates a maximum advanced rent payment of three months. After the expiration of the three months rent, the tenants are expected to pay monthly.

“There are many tenants whose salaries are competing with their rents because they live in cities like Abuja,” he said.

When reminded of the scenario that played out in Lagos when Governor Marwa implemented similar law but with stiff resistance from landlords,  Senator Adeyemi, said the law being proposed will take of such resistance by providing window of petitioning for any tenants forced to pay rents above three months.

“Most Nigerians need the protection of the law to be able to meet their basic needs after paying rents.

“Many landlords did not secure loans to build their houses, they are products of free money they acquire from the system, yet they make lives difficult for poor Nigerians who do not have such privilege of making ill-gotten money from the system and put up structures,” he added.