The firm, powered by young entrepreneurs, is Nigeria’s first ‘On-Demand Home Rental Solution’ with flexible payment and rent insurance.
Speaking to journalists in Lagos at the weekend, the Chief Executive Officer of the firm, Tunde Balogun, said “RentSmallSmall is focused on improving rental experience for tenants and reducing vacancy period and rate for landlords”.
He explained that with the services of the company, prospective tenants have no need to worry about paying for one year at a go which many times, is very challenging and also, there is nothing like 10 per cent agent fee and agreement fee.
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On how it works, he explained that “Our services are technology driven and all available and verified rentable apartments are paid on a monthly basis without the pains of paying for landlord and agent fees or upfront payment of one year or more. By our renting policy, after confirming interest in any available property, all you need to pay is one month and our properties for rent are coming with housing insurance.”
RentSmallSmall is partnering with AxaMansard Home Insurance scheme and other companies that work together for the good of tenants.
Furthermore, Balogun explained that “Landlords who are our partners stand to gain a number of seamless advantages over others that insist on collecting from one year upfront.
“Property owners on RentSmallSmall are on steady income throughout the year; tenants are screened and verified by RentSmallSmall ahead of parking; Rent default insurance is covered by AxaMansard; and our company model and platform give high visibility to property in the market, thereby reducing vacancy period and undue wastage of finished properties.
“Eviction of erring tenants under RentSmallSmall is faster as only one month notice is given as provided by the prevailing rent edit.”
On the advantages of RentSmallSmall platform to prospective tenants, Balogun averred that tenants enjoy easy access as the company reduces the amount of time spent searching for the perfect property.
“Tenants can find property and move in within 48 hours or less. Tenants can use our platform to find residential home at close proximity to work place and in the process reduce commuting time and boom in productivity.
“In terms of flexibility, RentSmallSmall is designed for flexible duration and payment which means tenants can stay as they need and pay as they stay.
“On livability, the company ensures homes are livable for tenants throughout their stay by attending to issues in the apartment on time,” he said.
Balogun however assured prospective property owners that if they join the platform, they would earn more than they would have earned using traditional rental practice in Nigeria.
In her presentation, the Group Head, Partnership at AxaMansard, Ms. Wurola Odesanya, said her company partnered with RentSmallSmall based on the strategic solutions the company is coming with. She added that “With Axa Mansard home insurance, tenants will be at peace leaving in their apartments and enjoying their period paid for.
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