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Lagos hands over 200 rent-to-own homes

Lagos hands over 200 rent-to-own homes

“The Lagos State Government has handed over keys to another set of 200 successful applicants of the Lagos rent-to-own initiative with a promise to sustain the policy in partnership with the private investor.”- The Nation

Its Commissioner for Housing, Mr. Gbolahan Lawal, who presided over the ceremony, said the state has over 4, 000 housing units yet to be subscribed to across various areas of the state.

According to him, the state has already mapped out sustainability strategy such that upon exhausting the available units, partnership collaboration would be ignited with the private sector for another round of 20,000 housing units.

“Beyond any doubt, this state government made 100 residents  house owners in their own rights last month, this month also, another set of 200 home owners have emerged under the initiative. We will continue with this method until the housing deficit in the state is reasonably bridged,” Lawal said.

He disclosed that of the 100 successful allottees last year, 75 of them have moved into their homes and are enjoying their residency. He attributed the increment from last month’s 100 housing units to 200 units this month to increasing demand from applicants, who are desirous of becoming home owners under the scheme.

The Commissioner further disclosed that more windows of opportunities would be opened to more residents as some government housing schemes in Sangotedo, Ajara in Badagry, Igbogbo, Igando Gardens, Egan-Igando, would be completed and made available to Lagosians before the end of the year.

He solicited the support of allottees to assume responsibility for the estates by cooperating with the facilities managers at ensuring that the facilities are put to good use. “Efforts should be geared towards ensuring that the environments are kept clean always. The allottees are to ensure that they pay their rent as at when due and embrace maintenance culture,” he added.

Also, the state Commissioner for Information and Strategy, Mr. Steve Ayorinde, who was at the event, said with the Rent-To-Own policy, Lagos is on course in addressing the state’s housing deficit.

The Commissioner, who acknowledged the huge housing deficit in the state when compared with others in the country, said the state chose the path of Rent-To-Own to save low and middle income earners the burden of paying for house out rightly.

He said the five per cent commitment fee payment was perhaps the best any state could offer all over the world, adding that testimonials of beneficiaries of the scheme speak volume about the transparent nature of the initiative from the application stage to the handing over of keys.

In his address, the General Manager, Lagos State Mortgage Board, Mr. Dehinde Tunwashe, said the testimonies of some of the first 100 allottees last month were enough evidence to convince people that the Rent-To-Own policy of the state was real and that they should be encouraged to apply, saying, “the handing-over ceremony we are witnessing today will be an event that will go down in the history of Lagos State and generations to come.”

Source: The Nation

One comment

  1. Dear publisher,
    My name is Lawal from Lagos, Nigeria. I read your article on Lagos hands over 200 rent to own a home key. Please I would like to ask, what are the criteria one needed to meet in order to become a beneficiary of this scheme?


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