By Peter Onyekachukwu 
By Peter Onyekachukeu
The Chairman of the Association of Estate Agents, Delta State Chapter, Comrade Oke Oyibo, has raised concern over the growing shortage of housing across the state, urging the Delta State Government to invest more in affordable housing projects to ease the burden on residents.
Oyibo made the appeal while reacting to the ongoing deliberations on the Delta State Housing and Tenancy Regulation Bill at the State House of Assembly. He commended the Speaker, Rt. Hon. Dennis Guwor, and members of the House for their effort to sanitize estate practice and curb the excesses of unregistered agents.
The estate agents’ leader lauded the House of Assembly for taking a bold step to standardize estate practice and protect both tenants and agents. He also praised the Commissioner for Housing for measures aimed at reducing extortion and sharp practices in the sector.
However, Oyibo called for an upward review of the proposed 5 percent agency fee to 10 percent, arguing that the 5 percent rate was not sustainable for agents given the current realities of the housing market.
“We appreciate the efforts of the House and the Commissioner for Housing for their bold move to regulate our practice and reduce illegalities. However, we have observed that the 5 percent agency fee will not be feasible,” Oyibo said.
“For instance, if a property is rented at ₦1 million, 5 percent amounts to ₦50,000, which is too low considering the cost of operations. A 10 percent fee would be more realistic and fair to both agents and clients.”
Comrade Oyibo lamented the acute shortage of housing across Delta State, noting that the scarcity had encouraged exploitation by some landlords and unregistered agents. He urged Governor Sheriff Oborevwori to invest in affordable housing schemes to bridge the gap between demand and supply.
“There is a serious shortage of houses across Delta State. That is why some landlords and unprofessional agents exploit people. Government must come in by building more affordable homes so that ordinary Deltans can have decent accommodation,” he stressed.
He added that the association was ready to collaborate with the state government and relevant stakeholders to create a more transparent and efficient housing system.
Oyibo also urged moderation in rent increases, suggesting that landlords should not raise rents by more than 30 percent within three to four years. He said such regulation would protect tenants from sudden and excessive hikes that have become common in urban areas.
“Most landlords are already charging high rents, and sudden increments make life unbearable for tenants. Rent increases should not exceed 30 percent over three or four years. It’s unfair for a landlord to just wake up one morning and raise the rent without notice,” he stated.
The association chairman further emphasized the need for proper coordination between landlords, tenants, and agents, adding that the new housing bill should protect all parties and foster a fair, balanced housing system.
“Everybody—the landlord, the government, and the agents—must be on the same page to correct these abnormalities. The proposed bill should protect tenants, guide landlords, and professionalize the practice of estate agents,” he added.
Oyibo appealed to the Delta State House of Assembly to consider the association’s recommendations in the final draft of the Housing and Tenancy Regulation Bill, expressing optimism that its implementation would restore sanity and transparency in the state’s real estate sector.
“We believe that if the House includes our input, the bill will bring lasting solutions to the challenges facing the housing market in Delta State,” he said.
The Delta State Housing and Tenancy Regulation Bill currently before the House of Assembly seeks to regulate the relationship between landlords, tenants, and estate agents. It aims to curb arbitrary rent increases, check fraudulent practices in property transactions, and ensure affordable housing delivery for residents.
The proposed law also provides a framework for fair housing policies, including proper notice before rent increments, standardized agency charges, and the establishment of a monitoring board to enforce compliance across the state.
“There is a serious shortage of houses across Delta State. That is why some landlords and unprofessional agents exploit people.” -Comrade Oke Oyibo, Chairman, Association of Estate Agents, Delta State
Sidebar: Key Proposals in the Delta Housing Bill. Regulation of relationship between landlords, tenants, and agents. Capping agency fees between 5% and 10% of total rent value. Limiting rent increments to not more than 30% within three to four years. Requiring advance notice before rent increases or tenant eviction. Establishing a Housing Regulation Board to monitor compliance. Promoting affordable housing development across Delta communities