The Federal Government (FG) has called on private companies and individual to give back some of what they control to citizens as a way of addressing the post covid-19 era.
Consequently, the Minister of Works and Housing, Mr. Babatunde Fashola urged private landlords to start charging their tenants monthly, quarterly or half-year rent instead of the one, two to three years in advance rent demanded.
He explained that in the post COVID-19 era, most tenants are owing rent or facing eviction and it is evident that most houses available for sale or rent belong mostly to individuals and private companies, compared to those the state or FG have available.
He spoke on Monday at the opening ceremony of the 15th Abuja housing show.
The Minister who was represented at the occasion by the Minister of state for Works and Housing, Engr. Abubakar Aliyu said, “It is evident that most houses available for sale or rent belong mostly to individuals and private companies compared to those the state or Federal Government have available. Therefore, many of the tenants who owe rent, who face eviction or who seek to rent or buy property due to the pandemic are dealing with private citizens or companies and less so with government agencies.
“Consequently, my recommendation for improving access and affordability in the COVID-19 era and beyond as presented at the Council Meeting, and wnich is still apt for this gathering, is for private companies and individual to give back some of what they control to citizens in the way that FGN has given back to citizens some of what it controls. For example, in cases where rent of businesses or some individuals are due for renewal, the private Landlords can give back by accepting monthly quarterly, or half-yearly rent instead of one, two or three years rent in advence.
“The risk of defaults can be secured by Bank Guarantees or Insurance bonds provided by the tenants or the employer in exchange for a direct debit mandate from the employee for the deduction of his rent from his salary to pay the landlord.
“Where rent has fallen into arrears, it is possible to emulate what the FGN did through the CBN to reschedule payment on loans, by rescheduling the payment for the tenant to more affordable terms instead of adopting eviction.”
