Assessment of the Challenges Facing Rental Housing in Lagos, Nigeria

Abstract

There is a growing concern over the issue of housing deficit and quality of housing stock in Lagos. Stakeholders have had reason to develop different housing strategies to curb the housing deficit issue. This study presents an attempt to assess the challenges facing the adoption and practice of rental housing as a way of curbing the housing deficit challenge. The study adopted a survey approach by administering questionnaires to Estate firms situated in Lagos. The study found that cost of financing is the factor that presents the greatest challenge to the practice of producing houses for rent. Other factors that also present huge challenges are affordability, low yield, legal system, rent, void and tenant behaviour.