Babatunde Fashola has appealed to Nigerian homeowners to review the method of charging rent for their properties to help low-income earners cope with housing demands.
Speaking on the theme “Innovative Housing Finance Model as a Catalyst for Home Ownership”, the former Lagos State governor said most low-income working class Nigerians don’t receive their salaries in advance, but in arrears.
He said, “If you ask me to go and bring in advance one year’s rent from what I’m going to earn monthly in arrears, how feasible is that?
“Even my salary as a minister is paid at the end of every month, not even at the beginning; then you the landlord is now asking me to bring next year’s salary, and we’re complaining that there’s corruption.
“I tried to intervene as a governor, passing the resolution to our own council in Lagos then, but the outcome was not peaceful, because there were landlords in our midst.
“Those who get paid weekly pay their rents weekly; those who get paid monthly pay monthly rents.”
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