*ENUGU STATE* *TENANCY LAW & THE* *UNREGULATED* *RENTAL MARKET*
*Overview* .
Enugu state is among states in Nigeria that the state assembly legistlated on some set of rules that defines the rights & obligations of the Landlord & theTenant in the state for the purpose of sustaining an accomodating business environment for both parties.
These set of rules are meant to be respected & complied with in accordance with the stipulations of the said tenancy laws especially as it concerns the rental market.
Unfortunately, these rules are often violated by these same parties whose interests the tenancy law targets to protect & this has adversely affected other economic activities in the state.
Across states including Enugu, factors like Population growth resulting from migration to the urban centres, Scarcity of properties due to low property investment, Government taxation policies & Currency fluctuation as it affects cost of building materials are some of the factors adduced as factors affecting the rental market.
Significantly, the unregulated activities of the middle men, the property or house agents as they are known is also another major factor constituting the greatest manace in the rental market especially in our urban centres.
In terms of rent increase, the tenancy law is clear on the notice period within which a Landlord notifies his tenant & at what percentage of increase the passing rent will graduate to.
The tenancy law is also very definite with regards to Notice to Quit periods.
But how has the unregulated outrageous agency, legal, caution & house pre-inspection fees including Landlord & fellow tenants drinks affected the rental market?
In situating oversight supervisions, states are becoming more intentional by reorganising the systems through the identification & registration of the agents in a body known as Association of Estate Agents of Nigeria ( AEAN) supervised by the state branches of the Nigerian Institution of Estate Surveyors & Valuers. (NIESV), giving also the institution the responsibility to professionally develop & monitor the activities of the property or house agents.
This synergy has become so effective to the extent that agents in some states & in many cases now operate within the scale of fees of the supervising institution, the NIESV & some cases apply fee templates that does not support the exploitation of both potential & sitting tenants.
Enugu state government while vigorously embarking on all sector reforms, should as a matter of urgent public importance synergize with the state branch of the Nigerian Institution of Estate Surveyors & Valuers to device also a one stop shop for the regulation of the rental market with regards to payment of agency fees or charges.
It will also be important for Enugu State House of Assembly (ENHA)to set a plan in place for further review & update the extent laws as enacted since 2008 in checking the exploitative practices of the quacks in the property rental market as the protection of citizens econmic wellbeing by the government is in fulfilment of that social contract in favour of the people..
*ESV. Edison Ozo Edeh (RSV), Nkanu West LGA* .