Housing stakeholders in Ibadan cry out for relief as rents continue to rise

PEOPLES GAZETTE

Tenants, house agents, and landlords have expressed concern over rising house rents in Ibadan, the Oyo state capital, and have called on the government to intervene.

While speaking in separate interviews on Thursday, the residents shared their experiences and likely solutions.

The high rent situation is becoming a significant concern, affecting individuals and families seeking affordable accommodation. The surge in house rents is attributed to several factors, including the growing population, increased demand for housing, and rising living costs.

Landlords and property owners adjust their rental fees to keep up with the economic changes, leaving many tenants struggling to meet the new financial demands.

For instance, the rent for a room and parlour apartment in Kuola, off Akala Expressway, is N910,000 per annum as the total package.

The total package is broken down as rent: N600,000, service charge: N60,000, agreement: N60,000, damages: N60,000, form: N10,000, agency fee: N120,000, adding up to N910,000.

A resident of a newly built apartment in Kuola, David Adegboro, said most of the outrageous rents were not determined by the landlords but by the house agents.

“These agents will disguise like they have good intentions. Meanwhile, they are, the whole time, planning on ways to extort you. Also, the landlords know the agents are going to mention outrageous amounts to people as rent.

“But they won’t caution or stop them because they don’t care as long as they receive their money. I think the only way this can be managed is for landlords and agents to agree on reasonable and affordable rents,” he said.

Another resident in the same area, Fuad Adediji, said he was devastated and overwhelmed by the inflated rents, especially as they increased in the past few months.

“I understand that things are increasing, leading to increment in other factors, but rents shouldn’t be over the top. They are extreme and ridiculous! I wish to plead on behalf of everyone to the Federal Government to pass a bill or do something to restrict agents or landlords from setting rents beyond certain limits,” Mr Adediji said.

In areas like Progressive Estate, after 7Up, Oluyole, a room and parlour apartment with modern facilities, rent is N500,000 but N800,000 as the total package.

Also, in places like Akala Estate, Akobo, a one-room self-contained apartment with modern facilities costs N500,000, for a total package of N700,000. In the Ologuneru area of Ibadan, a room and parlour apartment costs N500,000, for a total package of N750,000.

In the same area, a one-room self-contained annual rent is N400,000 with a total package of N620,000.

He said, “It’s really frustrating as only a few can cope with the situation. What’s going to happen to the rest of the people who can’t? This ends up leaving people homeless; more and more people are sleeping on the streets because they can’t even afford the minimum anymore.

“Fuel is now N950 per litre, and one paint bucket of rice is now N3,500; these prices are already outrageous enough, so house rents shouldn’t add to the situation. I hope there’s a better way to curb this problem because it’s a fast-growing issue. I pray that everyone survives the recession.”

Meanwhile, a housing agent, Opeyemi Ajayi, attributed the soaring rents to economic inflation and called on house seekers and tenants to understand and cope with the situation.