{"id":162,"date":"2021-01-04T16:22:48","date_gmt":"2021-01-04T16:22:48","guid":{"rendered":"https:\/\/smartmag.theme-sphere.com\/new-one24\/premier-andrew-furey-says-crews-are-holding-back-fire-near-labrador-city\/"},"modified":"2026-03-24T07:48:47","modified_gmt":"2026-03-24T07:48:47","slug":"premier-andrew-furey-says-crews-are-holding-back-fire-near-labrador-city","status":"publish","type":"post","link":"https:\/\/propertyplus.com.ng\/?p=162","title":{"rendered":"Lagosians, Be Warned! Know Your Real Estate Rights and Avoid Trouble \u2013 LASRERA Speaks Out"},"content":{"rendered":"

Attention Lagosians!<\/span><\/h4>\n

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 \u2014 real estate in Lagos is now a regulated market, and ignorance of the law is no longer an excuse.Let\u2019s break it down for you:<\/span><\/p>\n

Dealing with Unregistered Realtors is a Crime<\/span><\/h4>\n

Did you know it is an offence to transact any real estate business with an unregistered Estate Agent, Realtor, or Practitioner in Lagos State?<\/span><\/p>\n

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\u2019re 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.<\/span><\/p>\n

10% is the Maximum Agency Fee Allowed<\/span><\/h4>\n

Are you paying more than 10% agency fee for a real estate transaction in Lagos? Then you\u2019re being overcharged \u2014 and it\u2019s 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.<\/span><\/p>\n

You Can\u2019t Be Asked to Pay More Than One Year Rent Upfront<\/span><\/h4>\n

Lagos State tenancy laws strictly limit landlords and agents from demanding more than one year\u2019s 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\u2019ve been forced to pay more, you have the right to report it to LASRERA.<\/span><\/p>\n

No House, No Payment \u2013 It\u2019s That Simple<\/span><\/h4>\n

Here\u2019s a big one: Collecting money for a house or property that doesn\u2019t exist or hasn\u2019t 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.<\/span><\/p>\n

For Complaints, Contact LASRERA<\/span><\/p>\n

Having issues with your rent, landlord, agent, or property deal? Don\u2019t stay silent.<\/span><\/p>\n

Contact LASRERA:<\/span><\/p>\n

Call:\u2022 0912 200 0661\u2022 0912 200 0662\u2022 0904 000 0333<\/span><\/p>\n

Visit: LASRERA Office, Block 21, First Floor, The Secretariat, Alausa, Ikeja, Lagos<\/span><\/p>\n

Meet the Team Behind the Reform<\/strong><\/span><\/p>\n

    \n
  • Mr. Babajide Olusola Sanwo-Olu \u2013 Executive Governor of Lagos State.<\/span><\/li>\n
  • Barr. Barakat Odunuga-Bakare \u2013 Special Adviser to the Governor on Housing<\/span><\/li>\n<\/ul>\n

    Lagos State Real Estate Regulatory Authority (LASRERA) \u2013 Ensuring a safe and fair property market<\/span><\/p>\n

    Why This Matters for You<\/span><\/h4>\n

    At Propertyplus Magazine, we are committed to educating, informing, and protecting real estate buyers, sellers, and renters across Nigeria \u2014 especially in Lagos, where the property market is booming and bustling.<\/span><\/p>\n

    Stay safe. Stay informed. Stay compliant.<\/span><\/p>\n

    Whether you\u2019re a tenant, landlord, agent, or investor \u2014 knowing your rights is the first step to a smooth and successful real estate transaction.<\/span><\/p>\n

    Follow Propertyplus Magazine for More Updates on Real Estate Laws, Listings, and Market Insights.<\/span><\/p>\n

    Share this post \u2014 You could save someone from being a victim of real estate fraud!<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

    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 \u2014 real estate in Lagos is now a regulated market, and ignorance of the law is no longer an<\/p>\n","protected":false},"author":1,"featured_media":6181,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[7,17],"tags":[],"class_list":{"0":"post-162","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-featured","8":"category-property-news"},"_links":{"self":[{"href":"https:\/\/propertyplus.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/162","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/propertyplus.com.ng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/propertyplus.com.ng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/propertyplus.com.ng\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/propertyplus.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=162"}],"version-history":[{"count":3,"href":"https:\/\/propertyplus.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/162\/revisions"}],"predecessor-version":[{"id":6182,"href":"https:\/\/propertyplus.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/162\/revisions\/6182"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/propertyplus.com.ng\/index.php?rest_route=\/wp\/v2\/media\/6181"}],"wp:attachment":[{"href":"https:\/\/propertyplus.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/propertyplus.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/propertyplus.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}