In order to further enlighten members of the public about the
activities of the Authority, there were series of interactive
session with the Body of Permanent Secretaries of the MDA’s and
57 Chairmen of the Local Government and Local Council
Development Areas, Officials of inter related Ministries,
Departments and Agencies in pursuit of the achievement of the
goal of the Authority.
The Agency also organized a Stakeholder’s Forum for Real Estate
Practitioners and Property Developers in the Built Sector in
February, 2020 at Adeyemi-Bero Auditorium, Alausa, to sensitize
the practitioners on the need to confirm with State Government’s
regulations by being licensed by LASRERA for database
Meanwhile, The Agency has commenced a massive advocacy drive
through Electronic / Social Media, A- Frame & Billboards across
the State to create awareness, to curb dubious Real Estate
transactions and registrations of practitioners who are yet to
The Agency has commenced a massive advocacy drive through
Electronic / Social Media, A- Frame & Billboards across the
State to create awareness, to curb dubious Real Estate
transactions and registrations of practitioners who are yet to
Another policy initiative the Administration is working on is
The MORTGAGE and PROPERTY LAW Cap M5 Laws of Lagos State, 2015,
which was established to:
Generate a conducive environment for accessible and affordable
mortgage/ charge for the benefit of the citizens of the State
Protect the residents of the State from sharp practices in
relation to mortgage.
Stabilize the State’s economy from unacceptable practices by
Mortgage Brokers, Lenders and all persons holding themselves
out as offering funds on security by way of Mortgage or Charge
on any property in the State.
Develop homes or housing estates so citizens of the State can
acquire their own homes.
The Law seeks to conform with global best practices and proposes
to include provisions to:
- Remedy for wrongful sale of Properties
Provide guidelines for Mortgage on notice to sell and
amongst others for Lagos State to attain its goal as the
economic hub in West Africa and globally.
LASRERA SALE/TENANCY REGISTRATION
TENANCY REGISTRATION is a LASRERA initiative, which
regulates and protects the real estate sector in Lagos
State through the development of a centralized online
database created for collecting property transactions
including tenancy and sales data. LASRERA seeks to
regulate the relationships and interactions within the
real estate sector in Lagos State while ensuring the full
protection of the rights of all parties.
If you happen to be renting a room, shop, flat, house or
an office unit in Lagos State, it is mandatory to register
the Agreement. All receipts/agreements for properties must
be registered through LASRERA. It is mandatory for all
tenants to register their tenancy agreements with LASRERA.
It’s an offence not to register your tenancy.
If you are buying a shop, a complex, a flat, or a house,
it must be registered with LASRERA. This registration
will protect your right under the law and ensure that
the transaction is legitimate. This is the only way you
can avoid fraudsters from taking advantage of you. As a
developer or seller any sale transaction must be
documented with LASRERA for it to be considered
legitimate under the law of Lagos state.
The Tenant is responsible for registering tenancy
agreement with LASRERA. Landlords can also submit
tenancies for registration. As for sales agreements the
responsibility for registration lies with both the buyer
and the seller. Every property transfer is only deemed
as completed when the transaction has been registered
Designed to meet requirements of the law: the
registration of Tenancy/sales transactions provides a
safety net for all parties involved. It is aimed at
establishing a strong and transparent regulatory system
which focuses on the elimination of fraudulent
activities in the real estate sector.
The agency will sanitise the sector and ensure
compliance / enforcements as follows:
Demand from landlords to receive rent in excess of 6
months from a monthly tenant and one 1 year from a
yearly tenant. Any landlord found guilty shall be
fined or imprisoned.
Unsolicited offer from a sitting tenant to pay rent in
excess of 6 months as a monthly tenant and one 1 year
as a yearly tenant for any premises. Any tenant found
guilty shall be fined or imprisoned.
Failure of landlords to issue receipts to monthly
tenants and tenancy agreements to yearly tenants will
result in a fine once convicted by a court of
Non Issuance of Sale Agreement/ Transfer of Title
deeds to a buyer by Seller will be tantamount to fraud
and punishable under the law.
Failure of a seller to deliver a property to a buyer
after collecting full payment under a purchase
agreement is punishable under the law
Complete overhaul of sales transactions characterised
by full disclosure and transparency thereby protecting
all parties involved.
This provides the State government with the right
information for infrastructure planning for future
purposes , therefore failure to register your
Tenancy/Sale/Lease or Mortgage Agreement denies citizens
the opportunities for infrastructure growth , and access
to the dispute resolution mechanisms of the State
Regulatory Agency The standardisation of agreements will
guarantee the commitment of all parties to fulfill their
contractual obligations. LASRERA will ensure that
contracts are fairly regulated through the system.
A receipt is generated once you have made payment for
registration. The agreement is then updated on the State
database. This can be verified from the LASRERA website
at any time within the life of the agreement.
Visit the LASRERA designated agent’s office near you, to
register all your agreements . Kindly go with copies of
the the following documents:
- Tenancy agreement
- The receipt issued by the Landlord to Tenant
The Landlords Contact details * Seller’s Contact
The cost of registration varies per Local Government /
Property Type and Term. A fee chart will be provided by
your local LASRERA agent.
Yes, each time you sign or renew a tenancy agreement,
you need to register the tenancy agreement.
FUNCTIONS OF THE AGENCY
The Agency shall perform the following functions:
Make regulations for the proper dealing in Real Estate
transactions in the State.
Register and issue permits to Real Estate Practitioners.
Maintain a register of Real Estate Transactions, Real Estate
Practitioners, their Brokers and Agents in the State.
Organize monitoring teams and conduct inspections in order to
ensure compliance with the Lagos State Tenancy Law, Criminal
Law and other legislations on Real Estate Transactions
Create a forum for affected members of society to lodge
complaints against dishonest Real Estate Practitioners.
Investigate complaints and petitions against registered Real
Liaise with Law Enforcement Agencies and courts in the
prosecution of Real Estate Practitioners suspected of
violating the applicable Laws.
- Collate data on property transactions.
Regulate and register tenancy transactions and agreements.
- Ensure protection of citizens from illegal transactions
Ensure and confirm the payment of fees, taxes or charges on
Real Estate transactions, such as Withholding Tax, Value Added
Tax, Estate Duty, Land Use Charge and Outgoings as shall be
imposed or charged by the Agency or any other Government
Organize seminars, symposia/workshops or other training
sessions for registered Real Estate Practitioners and other
Liaise collaborate with other inter-related bodies and MDAs,
including but not limited to the , Ministry of Physical
Planning and Urban Development and its agencies, Lagos State
Lands Bureau, New Towns Development Authority, Office of the
Surveyor General for the purpose of collecting and collating
data on newly approved developments.
Provide consultancy services on housing data and connected
matters to stakeholders, including Students, Engineers, Estate
Surveyors and Valuers, Town Planners, Land Surveyors, Real
Estate Agents, Builders, etc. operating in the State.
Provide facilities for training, education and research for
the purpose of advancing the skill of staff employed to ensure
conformity with national and global standards.
Periodically update the conditions for renewal of permit for
Real Estate Practitioners in the State.
Sensitize the public about Real Estate Operations and
attendant rules, risk and benefits, and recommend policies to
the State Government that will enhance the Real Estate
Transactions in the State.
IDENTIFICATION OF ABANDONED PROPERTIES
The Agency is responsible for the identification of abandoned
structures in the State. This exercise would provide the
Government with data for purposes of Urban Regeneration and
would enable the State put to proper use structures which have
become criminal hideouts and a menace to the society at large.