Abstract
Access to affordable housing is an intractable problem confronting the city of Lagos, leaving many residents with spiraling housing costs. This housing challenge dictated the intervention for the Lagos State Government through the promulgation of rent control laws. It is against the backdrop of such interference that this article examines the implications of rent control on the private housing market within the socio-economic reality of society. Using the doctrinal research method, the article argues that rent control is an essential policy that seeks to alleviate the plights of the tenants from urban real estate markets such as Lagos. However, it finds that human behaviour and socio-economic considerations play a significant role in determining functionality of Law and as such legal consideration devoid of economic and social factors can neither prevent nor resolve conflicts arising out of tenancy relationships. It also finds that statutory intervention by way of rent control laws has some negative implications on housing delivery, especially when private landlords largely drive housing investment. The article concludes that the desired results of a sustainable private housing market can be achieved through moderate rent control laws that allow investors to recoup fair returns on their investment.
Authors: Issa Akanji Adedokun
