Lagos:   Estate agents and property consultants in Lagos have stopped the two years advance rent advertisements for vacant accommodation following the enactment of the tenancy law by the state government.

The tenancy law prohibits landlords and estate agents in the state from demanding more than one year rent from prospective tenants.

The law prescribes three months imprisonment or N100,000 fine for violators.

An investigation  in some parts of the metropolis on Friday revealed that agents have now adjusted their advertisements to reflect advance payment of one year or less.

At cement bus stop on Lagos/Abeokuta Expressway, it was  observed that most rent advertisements written on walls and small boards were for advance rents of one year.

“Before now, most of the adverts placed around here required new tenants to pay two years or more but since Fashola made this new law, agents have changed them to one year or less.

“It is amazing how fast they have complied with new law, but l only hope what they now put on their boards is true because it is possible accommodation seekers approach them and they tell them a different story,” a resident, Mrs Remi Adeyi said.

Mr Tunji Aremu, an estate agent at Iyana- Ipaja, declared that he had since altered the previous advertisements on his small board to reflect the one year advance rents in compliance with the law.

“The government has made a law which they expect everybody, including the estate agents, to obey. I have deleted what I had on my board before now and now have new advertisements.

“I do not want to go to jail or pay a fine and that is why none of my advertisements is asking prospective tenants to pay more than a year”, Aremu stated.

Mr Tunde Aderoju, Manager, Shallom Property Consultancy Services, Abesan, Alimosho, said the decision by agents in the state to comply with the tenancy law was a collective one.

“All the estate agents and property consultants have resolved that since the government has made a law, we must abide by it. And we all agreed to alter our advertisements in line with what the law requires,” Aderoju said.

Mr Segun Ajanlekoko, former President, Nigerian Institution of Estate Valuers and Surveyors, disclosed that the tenancy law would ease the stress faced by prospective tenants.

Ajanlekoko, however, urged the government to embark on mass construction of housing estates in all the local government areas in the state to boost supply with a view to enhancing the workability of the law. (NAN)