The commissioner explained that one of the key provisions of the proposed law would make it mandatory for all estate agents operating in Lagos to register with the Lagos State Real Estate Regulatory Authority (LASRERA).
He noted that operating without registration would become a punishable offence once the bill becomes law.
Akinderu-Fatai said the move was aimed at tackling the activities of unregistered agents accused of exploiting tenants through excessive charges, multiple sales of properties and other fraudulent transactions.
The commissioner further disclosed that the proposed law would also fast-track tenancy disputes through the introduction of weekend and public holiday sittings for tenancy-related matters.
He added that, when passed, the law would apply across all parts of Lagos State without exemption.
According to him, tenants seeking legal action against landlords would also be required to provide proof of rent payments and updated utility bills before initiating court proceedings.
Akinderu-Fatai said the state government was determined to restore sanity, transparency and accountability in the real estate sector while protecting residents from exploitation.
He revealed that LASRERA had intensified enforcement against fraudulent operators, adding that the agency recovered more than N270 million from fraudulent estate agents between 2025 and 2026.
The commissioner also stated that the government had consistently maintained that estate agency fees in Lagos should not exceed 10 per cent of the total rent payable by tenants.
He reiterated the commitment of the Sanwo-Olu administration to making housing transactions more transparent, affordable and investor-friendly across the state.
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