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An Empirical Study of the Lagos State Rent Edict of 1997

Oni, A. O. (2008) An Empirical Study of the Lagos State Rent Edict of 1997. Journal of the Nigerian Institution of Estate Surveyors and Valuers, 31 (1). pp. 20-32. ISSN 1597 -653X

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Before 1997, incidences of arbitrary rent increases, unlawful ejection of tenants, lengthy and un-ending litigations between landlords and tenants were rampant in Lagos State, Nigeria. This necessitated the intervention of Lagos State Government through promulgation of Rent Control and Recovery of Residential Premises Edict in 199 7. This paper examines the provisions of the edict and illustrates an approach for calculating statutory rent. In doing so, two floor plans of hypothetical flats were used. Parametric technique was also used to test the hypothesis that there is no significant difference between the open market and statutory rents in the study area. The study finds that rent control has no effect on open market values of residential property in the study area and recommends that the edict be repealed

Item Type: Article
Uncontrolled Keywords: rent control, residential property, statutory rent, open market rent, property market, government intervention.
Subjects: H Social Sciences > HD Industries. Land use. Labor
T Technology > TA Engineering (General). Civil engineering (General)
T Technology > TH Building construction
Divisions: Faculty of Engineering, Science and Mathematics > School of Civil Engineering and the Environment
Depositing User: Mr Solomon Bayoko
Date Deposited: 28 Mar 2014 20:43
Last Modified: 28 Mar 2014 20:43

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