By Demola Obadofin
In recent years, the once modest housing sector in Akure, the capital of Ondo State, has become a hotbed of exploitation, manipulation, and unchecked greed, largely fueled by unregulated house agents.
These individuals, often self-styled “agents,” have positioned themselves as unavoidable middlemen in the accommodation search, but at what cost?
The answer is clear: they are the primary drivers of skyrocketing rents in Akure, and their unwholesome practices are crippling both landlords and tenants alike.
In an ideal housing market, house agents are meant to serve as facilitators helping prospective tenants connect with landlords, and ensuring seamless transactions. But in Akure, the story is different. These agents now dictate housing prices, mislead landlords, inflate charges, and extort desperate tenants.
It is common practice for agents in Akure to collect as much as 40–50% of the annual rent under the guise of agency and agreement fees. This means a tenant paying N300,000 for a room and parlour apartment is forced to cough up an additional N120,000 or more for these unexplained levies.
In most cases, they demand payments before even confirming the availability or condition of the property
Even more disturbing is how these agents manipulate landlords into raising their rents unnecessarily. Why? Because the higher the rent, the bigger their cut. These agents deliberately misinform landlords about “market rates,” pushing them to increase rent arbitrarily. The landlords, often trusting the agents’ advice, agree not knowing they’re being used as pawns in a profit game.
In some cases, these agents go as far as renting out buildings or rooms without the knowledge or consent of the actual owner, thereby creating legal complications and disputes between landlords and unsuspecting
These agents have also invaded the construction supply chain, particularly sand and gravel. They now act as middlemen in the sale of building materials inflating prices far above market value to unsuspecting landlords and developers.
Imagine a truckload of sand that goes for N50,000 on the open market being sold for N90,000 by these agents. This affects the total cost of construction and pushes housing costs even higher. Once again, the end buyers and tenants bear the brunt.
One of the most outrageous aspects of this situation is the complete lack of regulation. These agents operate without registration, without background checks, and do not pay any form of tax or levy to the government. They exploit the housing system, make massive profit margins, and give nothing back.
This lawless sector continues to thrive in the shadows, and unfortunately, the absence of a structured framework has allowed this mess to persist.
The Way Forward: A Call to Government is time for the Ondo State Government to act decisively and save its citizens from further exploitation. The Ondo State Housing Corporation must be empowered through legislation to regulate, monitor, and license all housing agents operating within the state.
A centralized digital platform should be introduced, where tenants can apply for housing and landlords can list available properties. This will eliminate middleman exploitation and reduce the overall cost of housing.
Furthermore, these agents must be registered, vetted, and taxed. Their operations must be transparent and subject to audits
A body should be created under the Ministry of Housing or Urban Development to monitor compliance and enforce penalties for defaulters.
The unregulated activities of so-called house agents in Akure are not just a nuisance they are a full-blown crisis. These individuals have turned shelter, a basic human need into an avenue for extortion and greed. If nothing is done, the housing problem in Akure will worsen, and more residents will be pushed into poverty.
The time to act is now. Housing must be made affordable and accessible again. Let the government rise to this challenge and bring order to the chaos. The people of Akure deserve better.
* Obadofin, a finance expert and socio-political activist, lives in Akure