Would you rather pay your rent yearly or monthly? This is a debate that would have lots of supporters on both sides and for various reasons. But why does yearly rent have a stronger fanbase when a significant portion of Nigerian employees get paid monthly and most of their other bills are also made monthly. The idea of having to make annual rental payments cannot be appealing. As a result, tenants are forced to set aside huge sums of money to pay for rent. The question would then be ‘how can we make monthly rent a norm?’. Here are some Tech platforms that make monthly rent payment possible in Nigeria.
The issue of monthly versus yearly rent payment has been recognised by several PropTech startups, and they have gone ahead to develop solutions to this problem. These businesses have created systems that give tenants the opportunity to pay their rent monthly; which a lot of Nigerians would agree is the better option.
Rentsmallsmall (SmallSmall) is Nigeria’s “On-demand Home Rental Solution” with flexible payment and renters insurance. From the platform, users can search for apartments to rent in Eti-Osa, Gbagada and Ibeju parts of Lagos.
RentSmallSmall lists properties from as low as N50,000 per month to as high as N800,000 per month. This targets different social classes.
Spleet offers access to premium residential solutions, with as little hassle as possible. Their payment solutions are also very flexible —monthly or quarterly— depending on which fits your plans the most.
Spleet also offers a co-sharing option where users choose between their private spaces or living in affordable shared spaces with verified housemates. Both options come with flexible payment options.
HomePay Africa is a company currently in collaboration with Propertypro.ng that gives Africans the opportunity to pay their rent monthly with little to no hassle.
You become a verified renter, search for your apartment and get the funds you need to live a life of ease. It makes renting more affordable and less of a burden.
Muster is a startup that connects people and organisations looking to rent properties with other people and organisations using preset preferences to find the most suitable match. Like others above, the startup offers flexible payment options and monthly subscriptions.
On Muster, you can also earn money by renting out your available rooms to tenants on the platform. Almost similar to the AirBnB model.
The next time you are house hunting, and you need a flexible payment structure, do give some of these platforms a try. Please drop a review if you have tried any of these companies or pay rent monthly in Nigeria.
Are there any other platforms that we have left out of this article? Do share with us in the comments.