{"id":259,"date":"2021-01-04T17:30:46","date_gmt":"2021-01-04T17:30:46","guid":{"rendered":"https:\/\/smartmag.theme-sphere.com\/new-one24\/high-profile-chinese-business-delegation-meets-planning-minister-to-attract-chinese-investments\/"},"modified":"2026-03-24T07:44:28","modified_gmt":"2026-03-24T07:44:28","slug":"high-profile-chinese-business-delegation-meets-planning-minister-to-attract-chinese-investments","status":"publish","type":"post","link":"https:\/\/propertyplus.com.ng\/?p=259","title":{"rendered":"AGENTS NOT TO BE BLAMED FOR RISING COST OF HOUSE RENT \u2013 ERCAAN."},"content":{"rendered":"

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The issue of the rising cost of house rent in Lagos State has continued to be a cause for concern to residents. As one of the most sensitive topics all over the country at the moment, the leadership of the Estate Rent and Commission Agents Association of Nigeria (ERCAAN ), has spoken out to explain it\u2019s position in the entire situation.<\/span><\/p>\r\n

Speaking during a live radio program called \u2018The Naija Landlord Show\u2019 on Voice Of the People (VOP) 90.3 FM as special guests, the leadership of the ERCAAN absolved the body from blame as it lacked the power to control rent charges. First to speak was the National President of ERCAAN Mr. Godwin Alenkhe efa who submitted that there could be positive effect towards a reduction in rent if the government can exercise control over the cost of building materials. He opined that if price control measures are put on building materials, it impacts on the cost of building a property, which can translate to reduced cost in rent.<\/span>
When asked why the agents have not pushed the landlords to reduce rents being that they are their collaborators, he responded \u2018You cannot control what you don\u2019t have.\u2019 He further clarified that one cannot dictate to an owner how much to charge for their property because you didn\u2019t give them the money with which they built it.<\/span>
On his part, Hon. Yemi Adenowo the Board of Trustee Chairman ERCAAN emphasized that since the price of building materials continue to increase, landlords would continue to increase rents. He also stated that the present economic realities tenants face are also what the landlord faces in addition to the costs of obtaining building permits and other relevant documents that have been increased, all of which will force the landlord to increase rents as he may have no other source of raising money.<\/span>
In his submission during the program, the national Chairman Corporate Affairs Committee of ERCAAN, Hon Sabastine Onyewe efa, made it clear that the activities of the association are regulated by LASRERA. He stated that the body can sanction any of its erring member or members because of its strict rules that guides it\u2019s operations. However they don\u2019t control what happens outside ERCAAN. Onyewe reiterated that there\u2019s a fixed amount for agency fees which is ten percent of the amount of the property fee. He cleared the air on every body claiming to be an estate agent but whose activity is not regulated, stating that anyone can be an agent but ERCAAN alone guarantees the protection of the prospective clients due to the fact that it\u2019s members are cannot go outside it\u2019s stipulations else they will face severe sanctions.<\/span>
In all the discussions brought to the fore, the multifaceted aspects unknown to the public as contributing factors to the high cost of house rent in Lagos. While they acknowledged the cry of tenants, they made it absolutely clear that agents were not to blame and that the government has huge role to play in bringing down the cost of rents through economic friendly policies.<\/span><\/p>\r\n<\/div>\r\n

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  The issue of the rising cost of house rent in Lagos State has continued to be a cause for concern to residents. As one of the most sensitive topics all over the country at the moment, the leadership of the Estate Rent and Commission Agents Association of Nigeria (ERCAAN ), has spoken out to<\/p>\n","protected":false},"author":1,"featured_media":6178,"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":[6,7,17,64],"tags":[],"class_list":{"0":"post-259","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-exclusive","8":"category-featured","9":"category-property-news","10":"category-realtors"},"_links":{"self":[{"href":"https:\/\/propertyplus.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/259","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=259"}],"version-history":[{"count":3,"href":"https:\/\/propertyplus.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/259\/revisions"}],"predecessor-version":[{"id":6177,"href":"https:\/\/propertyplus.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/259\/revisions\/6177"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/propertyplus.com.ng\/index.php?rest_route=\/wp\/v2\/media\/6178"}],"wp:attachment":[{"href":"https:\/\/propertyplus.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/propertyplus.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/propertyplus.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}