Lagos to commence rent-to-own scheme December 8

As part of efforts to reduce the effects of the current economic downturn in the country, the Lagos State Government, yesterday, said it has concluded plans to start allocation of houses using the newly-introduced rent-to-own policy.

Vanguard reports that the State’s Commissioner for Housing, Prince Gbolahan Lawal, who disclosed this at a press conference ahead of the launch of the scheme, said the Rent-To-Own and Rental Housing Policies of Governor Akinwunmi Ambode’s administration is aimed at making housing more readily affordable and accessible to Lagosians.

According to him, the schemes listed for the programme include Sir Michael Otedola Estate, Odoragunshin-Epe; CHOIS City, Agbowa; Alhaji Adetoun Mustapha Estate, Ojokoro and Oba Adeboruwa Estate, Igbogbo-Ikorodu, adding that they will be launched simultaneously on Thursday, December 8, 2016.

Lawal said accessing housing units in the state has been largely on cash and carry basis which ends up excluding majority of the citizenry until when recently the Mortgage Scheme was introduced.

Vanguard also reports that the state government has urged property owners in the state to ensure prompt payment of their Land Use Charge in order to benefit from the 15% discount available for early payers and to avoid possible sealing of their properties.

The Commissioner for Information and Strategy, Mr. Steve Ayorinde, said payment of the Land Use Charge is part of civic responsibilities of the citizens and a requirement of Law and Property Tax, which is chargeable on all landed properties in the state, such as Ground Rent, Neighborhood Improvement Charge and Tenement Rate.

Source: Vanguard