By Adeboye Ado
Real estate managers and housing agents in Akungba, Ondo State, have resolved to tackle the rising cost of rent in the town and clamp down on unregistered agents operating illegally in the area.
This was part of the resolutions reached at a joint meeting between the Real Estate Managers Association of Ondo State (REMASSOS), Akoko South West chapter, and the Estate Rent and Commission Agents Association of Nigeria (ERCAAN), Akungba Zone.
In a statement jointly signed by Comrade Jimoh Maruf Olarenwaju, Chairman of REMASSOS; Dr. (Comrade) Ehinmitan Bidemi Olarenwaju, Chairman of ERCAAN Akungba Zone and Comrade Adu Babatunde Emmanuel (Prince Tunde), the associations’ Public Relations Officer, the groups expressed concern over what they described as “astronomical and exorbitant” rent rates in the town.
They said the decision was taken after a review of the growing hardship faced by tenants, especially students and residents of Akungba and its environs.
The statement noted that both associations have “meticulously rubbed minds together” to arrive at new rental benchmarks aimed at ensuring fairness and affordability.
According to the new framework, untiled single rooms are to be priced between ₦50,000 and ₦80,000, while tiled single rooms will range from ₦80,000 to ₦120,000.
Also, untiled self-contained apartments will go for between ₦120,000 and ₦150,000, and tiled self-contained units with running water are to be priced between ₦150,000 and ₦250,000.
The statement added that prices for one two and three-bedroom flats will be announced after further consultations.
The associations also issued warning to unregistered and illegal estate agents operating in Akungba, vowing to deal decisively with anyone caught engaging in unauthorized real estate practices.
“Any quacks or unregistered agents caught doing agency business in Akungba and its environs would be dealt with accordingly,” the statement read.
The groups urged residents, landlords and tenants to cooperate with registered agents to ensure transparency, orderliness and security in housing transactions within the area.