Ekiti sets up tribunal to regulate rising cost of house rent

By Boye Oyeyemi –

The Ekiti State Government has expressed concern over the sharp increase in house rents across the state, declaring that it will no longer tolerate exploitative pricing by property owners and agents.

The Special Adviser to the Governor on Land and Mortgage Development, Dr Gboyega Oloniyo, said the growing profile of Ekiti as an investment destination has attracted more residents, thereby increasing demand for housing.

Speaking in Ado Ekiti during a sensitisation programme on rent reduction, Oloniyo said the government is committed to ensuring that residents receive fair value for accommodation and are protected from arbitrary charges.

He disclosed that the government has established an Estate Agents Committee, which will function as a tribunal to address complaints relating to excessive rents and unethical practices within the housing sector.

According to him, government investments in infrastructure have often been followed by sudden rent hikes, while excessive agency fees and bundled charges have made decent housing increasingly unaffordable for many residents.

Oloniyo stressed that the government will no longer allow middlemen and unregulated agents to inflate housing costs, noting that properties listed at modest prices often end up costing tenants far more due to multiple charges.

He urged landlords, estate agents and community leaders to collaborate with the government in reviewing rent structures and improving housing standards, adding that the administration of Governor Biodun Oyebanji is already expanding housing projects across the state.

Also speaking, the Chairman of the House of Assembly Committee on Lands, Housing and Physical Planning, Yomi Ayorinde, said the legislature would provide legal backing for the committee’s recommendations, while the Director-General of the Bureau of Community Communications, Mary Oso-Omotosho, assured residents that sustained engagement would help curb arbitrary rent increases.