The Founder of Citiliving, Mr. Era Iyayi has revealed that his company has resolved to eliminate greed in rental transactions by leveraging the power of technology to create a transparent and efficient rental ecosystem that benefits both renters and property investors.
He said the move became imperative following the alarming increase in house rents across the country.
Iyayi in a statement issued Friday said the excessive agency fees, hidden charges, or unaccounted caution fees would all be eliminated through the initiative.
He noted: “The Nigerian housing crisis isn’t just about homeownership—it’s about getting rental housing right. That’s what Citiliving is here to do.
“If you have searched for a residential property to rent in Lagos, Abuja, or any other major city in Nigeria, you know the struggle is real.
“Rents are skyrocketing, decent homes are hard to find, and when you finally find one, you are slapped with outrageous agency fees, legal fees, inspection fees, and even caution fees that no one seems to account for.
“Meanwhile, thousands of newly built houses sit empty because they are priced far beyond what the average Nigerian can afford.”
Iyayi pointed out that this mismatch between supply and demand is at the heart of Nigeria’s housing crisis, adding that the real issue isn’t just homeownership — it is the rental supply problem.
According to him, Don’t get it twisted, homeownership is a problem, but it is not the core issue.
Iyayi stressed that while homeownership is difficult due to high construction costs, limited mortgage financing, and expensive land, it is not an immediate crisis.
He explained that most Nigerians are not actively looking to buy a home but rather seeking stable, affordable, and flexible rental housing that fits their income level and lifestyle.
Iyayi added: “Policymakers and developers keep pushing for more high-end houses, assuming that people just need to “own their homes.”
He said despite the increase in rents, people would be forced to ask why aren’t investors building more rental properties.
The founder said why investors see the opportunities in the sector, the barriers to investing in rental housing discourage them.
He added: “Many property owners and managers have horror stories of tenants who refuse to pay rent on time, if at all. Investors don’t want the stress of handling repairs, rent collection, and tenant complaints.
“Traditional rental transactions are loaded with unnecessary fees (agency, legal, inspection, caution fees) that discourage both renters and landlords.
“Inflation, fluctuating building costs, and inconsistent policies make long-term rental investments feel risky.”
It was against this background the Citiliving has resolved to solve the rental supply problem.
Iyayi noted: “Citiliving recognizes that renting is the real backbone of housing in urban Nigeria. That’s why it is leveraging the power of technology and community to create a transparent and efficient rental ecosystem that benefits both renters and property investors.
“No more excessive agency fees, hidden charges, or unaccounted caution fees. Renters pay for the property—not unnecessary middlemen.
“Through financial screening and rent automation, investors don’t have to chase tenants for payments. Verified renters + automated collection = stress-free property ownership.”