Reactions have trailed the comment made by Minister of Works and Housing, Babatunde Fashola who called for landlords of private property to start charging monthly rates against annual rates.
Speaking on behalf of the Council of Nigeria Institution of Estate Surveyors and Valuers at the first council meeting in Abuja, the president and chairman of the Council, Chief Emmanuel Wike said that the Nigerian Institution of Estate Surveyors and Valuers view the suggestion of Fashola from a different perspective. He said that housing remains one of the basic challenges for ordinary Nigerians, especially those living in urban centers.
He also said that rent control has been in existence since 1972 and it has never worked and it will be difficult to work. He said that the Institution will meet with the honorable Minister to deliberate and harmonize positions on the matter, also stating that it will be difficult for Government to control what they do not own.
Fashola at the opening ceremony of the 15th Abuja Housing Show, urged Landlords of private property to start charging their tenants monthly, quarterly or half-year, instead of the current practice of charging one, two years of advance rent.
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