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ATTENTION LAGOSIANS!
If you live, rent, buy, sell, or invest in property within Lagos State, this is a must-read. The Lagos State Government through the Lagos State Real Estate Regulatory Authority (LASRERA) has made it clear — real estate in Lagos is now a regulated market, and ignorance of the law is no longer an excuse.Let’s break it down for you:
✅ 1. Dealing with Unregistered Realtors is a Crime
Did you know it is an offence to transact any real estate business with an unregistered Estate Agent, Realtor, or Practitioner in Lagos State?
Under the LASRERA Act, all real estate practitioners must be registered and licensed by the Lagos State Real Estate Regulatory Authority to operate legally. If you’re working with an agent who does not have a LASRERA permit, both you and the agent may be liable under the law.🛑 STOP! Before you pay that agent, ask for their LASRERA permit.
💰 2. 10% is the Maximum Agency Fee Allowed
Are you paying more than 10% agency fee for a real estate transaction in Lagos? Then you’re being overcharged — and it’s illegal.By law, real estate practitioners must not charge more than 10% of the total rent or sale value as commission. This protects residents from extortion and ensures transparency and fairness in real estate dealings.
🕐 3. You Can’t Be Asked to Pay More Than One Year Rent Upfront
Lagos State tenancy laws strictly limit landlords and agents from demanding more than one year’s rent from tenants.No matter how hot the property market is, demanding or paying more than 12 months of rent at once is illegal and punishable by law. If you’ve been forced to pay more, you have the right to report it to LASRERA.
🚫 4. No House, No Payment – It’s That Simple
Here’s a big one: Collecting money for a house or property that doesn’t exist or hasn’t been delivered is a criminal offence.Real estate fraud is rampant, but LASRERA is cracking down on fake agents and developers. If someone collects money from you for rent or property purchase and fails to deliver, report them immediately. Justice will be served.
📞 For Complaints, Contact LASRERA
Having issues with your rent, landlord, agent, or property deal? Don’t stay silent.
Contact LASRERA:📱
Call:• 0912 200 0661• 0912 200 0662• 0904 000 0333
🏢 Visit:LASRERA Office, Block 21, First Floor, The Secretariat, Alausa, Ikeja, Lagos
🧑⚖️ Meet the Team Behind the Reform
Mr. Babajide Olusola Sanwo-Olu – Executive Governor of Lagos State
Barr. Barakat Odunuga-Bakare – Special Adviser to the Governor on Housing
Lagos State Real Estate Regulatory Authority (LASRERA) – Ensuring a safe and fair property market
🏠 Why This Matters for You
At Propertyplus Magazine, we are committed to educating, informing, and protecting real estate buyers, sellers, and renters across Nigeria — especially in Lagos, where the property market is booming and bustling.
Stay safe. Stay informed. Stay compliant.
Whether you’re a tenant, landlord, agent, or investor — knowing your rights is the first step to a smooth and successful real estate transaction.
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