RentSmallSmall, property sourcing group, is determined to help property owners in Lagos increase occupancy rate. Tunde Balogun, the chief executive officer, RentSmallSmall, said the company would end the complexities and intricacies associated with renting houses in the state.

Balogun in a press statement made available to Realnews, said the company would offer flexible rent initiative for low and average income earners. “The complexities and intricacies mostly unpleasant with easily finding a suitable, affordable choice apartment within specific preferred locations in Nigeria and the absence of a flexible system for rent payment establish why the entry of RentSmallSmall is so timely.

“Rentsmallsmall offers a flexible rent initiative for low and average income earners which makes it possible for one to seamlessly find a new home that suits their need, stay within budget and move in within 48hours. Studies show that affordable housing is becoming increasingly out of reach for many low and moderate income earners.

“This has made vacancy rate in residential and commercial market to double as most developers are now building affordable homes which often proves to be unaffordable to low and medium income earners with the payment structure that exist in Nigeria. Our model is a departure from the annually or two year rent payments demanded by landlords, as it allows for monthly, quarterly and bi-annual rent payment,” he said.

According to Balogun, the company is offering a win-win package for tenants and home owners. He said the offer would afford home owners the opportunity to get steady and reliable income throughout the year, thereby increasing occupancy rate. “The Lagos property market is in crisis, as the default rate on rented properties rises to 71 percent and vacancy rate hits 74 percent in prime property locations.

“RentSmallSmall.com offers a unique plan that proves to be a win-win, not just to tenants but to property owners. With Rentsmallsmall, home owners get screened and verified tenants, which ensure that the tenants are eligible enough to pay future rents diligently. Landlord gets up to 15 percent extra on rentsmallsmall.com when they collect flexible rent.

“Home owners also benefit from our first of its kind premium rent insurance through AXA Mansard against default. Default which could arise as a result of job loss, critical illness or accident and the landlord benefits here. With RentSmallSmall, everyone benefits.”

Balogun also hinted that his company has started its referral programme where referees can earn up to N350,000 monthly when they refer up to 10 tenants to property owners. This, he said, is to further engage the market and compensate Nigerians.

– Jan. 15, 2019 @ 18:15 GMT |