The Abia State House of Assembly has passed a landmark bill seeking to regulate the activities of property agents, landlords, and tenants across the state in a bid to sanitize the housing sector and protect residents from exploitative practices.
The legislation, which received the approval of the lawmakers after extensive deliberations, is designed to establish a legal framework for the conduct of estate agents, landlords, and tenants while promoting fairness, accountability, and transparency in property transactions.
The Assembly said the bill became necessary following growing complaints from residents over arbitrary rent increases, excessive agency and legal fees, multiple charges, and fraudulent activities by unregistered property agents.
Lawmakers noted that the new law would introduce clear guidelines governing tenancy agreements, rent collection, agency operations, and dispute resolution mechanisms, thereby reducing conflicts between landlords and tenants.
According to the Assembly, the legislation also seeks to protect tenants from exploitation while safeguarding the legitimate interests of property owners through a balanced regulatory system.
The bill is expected to strengthen confidence in the real estate sector by ensuring that only qualified and registered agents operate within the state, while offenders who violate the provisions of the law would be liable to prescribed sanctions.
Stakeholders believe the legislation, once assented to by Governor Alex Otti, will significantly improve housing administration, curb sharp practices, and create a more transparent and investor-friendly property market in Abia State.
The passage of the bill reflects the Assembly’s commitment to enacting laws that address the everyday concerns of residents and promote good governance in the state.
