• Appeals to the public to shelve planned protest

As part of efforts to address the alarming rise in rent and agency fee, Youth Leaders in Osun State under the umbrella body of The National Youth Council of Nigeria (NYCN), Osun State Chapter, on Wednesday, March 11, 2025, met with the Osun State Association of Caretaker Agents (OSACEM).

The NYCN, led by its Chairman, Comr. Akinbode Olakolupo Oluwasegun, met with the agents at their office at Alekuwodo, Osogbo, the state capital.

The discussion centered on the alarming increase in agent fees on rental properties across the state, a trend that has made housing increasingly unaffordable for many residents.

Recognizing the economic challenges faced by the people, NYCN expressed deep concern that excessive rental costs could lead to population decline as people seek affordable alternatives elsewhere or, in worse cases, push individuals into criminal activities.

The council commended youth advocates who have taken a stand on this issue, emphasizing the need for collective efforts to address the burden placed on tenants.

During the meeting, OSACEM acknowledged the growing number of individuals entering the real estate agency business due to unemployment or as a side hustle.

This, they noted, has led to unhealthy competition and irregular charges.

The association’s president clarified that the standard practice is for agents to charge 10% as an agent fee and 10% as a caution fee, making a total of 20% of the rent value.

To tackle the issue, both parties agreed on the importance of public sensitization to ensure tenants are aware of the legitimate charges and their rights.

They also charged tenants to verify an agent’s credibility by ensuring they possess a valid ID card and a recognized office or by confirming their membership with OSACEM before making payments.

Additionally, OSACEM announced the establishment of a task force, in collaboration with the police, to curb fraudulent practices among agents and enforce compliance with the approved fee structure.

The association reaffirmed its commitment to regulating its members and urged the government and other stakeholders to prioritize public welfare over exploitative practices.

In light of ongoing efforts to resolve this issue, NYCN appealed to youths and youth organizations to refrain from staging protests, as meaningful dialogue and strategic actions are already in motion.

The council assured all concerned parties that their grievances are being addressed through structured engagements, and lasting solutions will be implemented to ensure fairness and affordability in the rental system.

NYCN pledged to support all efforts that promote fairness in housing access and encouraged residents to exercise patience and due diligence when securing accommodation to avoid falling victim to extortion.