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Rent Control and Residential Property Values in Lagos State Nigeria

Oni, A. O. and Ajibola, M. O. and Oloyede, S. A. (2007) Rent Control and Residential Property Values in Lagos State Nigeria. Journal of Land use and Development Studies, 3 (1). pp. 78-94. ISSN 0794-5744

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Abstract

Prior to 1997, arbitrary rent increases, unlawful ejection of tenants, Lengthy and un-ending Litigations between Landlords and tenants were rampant in Lagos State, Nigeria. This dictated the intervention of Lagos State Government through the promulgation of the Rent Control and Recovery of Residential Premises Edict, which stipulates, inter alia, specific method to be adopted in determining residential property values. This research examines the statutory method of detem1ining standard rent under the edict, and adopts the multiple-comparison and analysis of variance techniques to determine the relationship between statutory and open market rents. It discovers that rent control has no impacts on rental prqperty values in the study area. It therefore concludes that government intervention through control of rent would injure the urban poor it sets out to protect and recommends that government should hands off control of rent on houses government has not produced

Item Type: Article
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: 15 Sep 2015 20:50
URI: http://eprints.covenantuniversity.edu.ng/id/eprint/2310

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