Stakeholders were divided on the proposed law to regulate house rent payment within the Federal Capital Territory.
The Senate had on the strength of a bill sponsored by Senator Smart Adeyemi mandated its committer on Lands, Housing and Urban Development to organise public hearing on the planned legislation.
The legislation seeks for maximum of three months advanced rent payment and monthly payment for old tenants as against one or two years being collected by many of the landlords.
But at the public hearing organised on the proposed bill, while the Nigeria Labour Congress, Nigeria Civil Service Union, Landlords and Tenants Association among others supported the proposed law, Estate Surveyors and Valuers Registration Board of Nigeria and Nigerian Institute of Building kicked against it.
The representative of the NLC, Benson Upah, said Nigeria stands alone in the payment of yearly rent.
According to Upah, rent payment in the United Kingdom and United States of America are done on monthly basis.
He commended the Senate for coming up with the proposal, which he described as masses oriented.
Also supporting the bill, Prince Rilwan Saheed Akinolu, who made presentation on behalf of Landlords and Tenants Association in Nigeria, said if enacted into law, it will be a win-win situation for both parties.
But kicking against the bill, the Registrar of the Estate Surveyors and Valuers Registration Board of Nigeria, Ifeanyi Uzonwanne, said the proposed legislation is wrong headed as the stakeholders in property rental industry are not just Landlords and Tenants.
Uzonwanne said: “Other than the Landlord and Tenant, other stakeholders in the industry include the Investors, Financiers, Banks, Mortgage Houses, Insurers, Artisans, Professionals, etc, whose interests are not put into consideration.
“The key to solving the problems the bill seeks to cure is the application of very sound economic policies.
“To progress in the passage of the bill without recourse to issues herein raised will unleash great harm to the economy.”
Further picking holes in the bill, Professor Martin Dada, who represented the Nigerian Institute of Building, said since inputs into construction are not regulated, it is naive and wrong attempting regulating the outputs.
In his closing remarks, the Chairman of the Committee, Senator Sam Egwu (PDP Ebonyi North), said all submissions made will guide the committee in arriving at a report to be presented to the Senate.