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Subscribers get rent-to-own houses in Lagos

About 650 subscribers have benefited from Lagos State’s Rent-to-Own housing scheme introduced by the Akinwunmi Ambode administration.

The Rent-to – own scheme, which was adopted from the State’s Home Ownership mortgage scheme, requires only a 5 per cent deposit and 30 percent equity contribution from the allotees, while the balance is spread over a 10-years period.

The State Commissioner for Housing, Prince Gbolahan Lawal, who disclosed this figure at the hand -over ceremony of keys to 150 allotees, said the policy was targeted to all Lagosians to have access to decent and affordable housing.


According to him, the new batch of allotees has brought to 650 total housing units allotted so far in the scheme. He enjoined the allotees, who are given keys to one bedroom apartment at Oba Adegboruwa Estate, in Ikorodu to ensure proper maintenance of their apartment.

Lawal stressing that the state has now made it mandatory for facility managers to manage new and existing estates in Lagos to prevent degeneration of the estates and to keep it environmentally friendly.

Earlier, the General Manager of Lagos State Mortgage Board, Mr. Dehinde Tunwashe, said the allocation of the housing units was carried out in a fair and just manner.He urged the allottees to ensure prompt payment of their monthly rent to encourage the state government to provide more houses.

Tunwashe said it is mandatory to pay insurance premium on the policies put in place by the state government to safeguard their property against any form of disaster.

He further urged the allottees to cooperate with the facility managers and ensure that the facilities in the estates are put to good use.

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Bertram Nwannekanma

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