Senate may outlaw annual rents

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The Senate is considering a bill seeking to make it an offence for landlords to demand payment of advance rent from tenants of residential and office buildings and spaces beyond three months.

The bill was laid for first reading during Tuesday’s legislative proceedings.

Briefing journalists after plenary, the sponsor of the bill Senator Smart Adeyemi said it would enable tenants to make a maximum advance payment of three months’ rent, with subsequent monthly payments.

He said landlords have been compelling tenants to make one-year and two-year advance rent payments before renting their apartments and this is not affordable for many Nigerians.

Senator Adeyemi also noted that the proposed legislation stipulates a maximum advance rent payment of three months and after the expiration of the three-month rent, the tenants are expected to pay monthly.