Nigeria: Rent Small Small wants to reorganize the real estate rental market

By : Adoni Conrad Quenum  

Date : lundi, 17 avril 2023 12:44

With its flexible rent payment solution, the proptech has revolutionized the sector in main Nigerian cities. 

Rent Small Small is a proptech solution developed by a Nigerian startup founded in 2017. It gives landlords the possibility to delegate the management of their properties to real estate professionals. It also brings trust to the real estate industry by allowing renters to rent from reliable agencies only.  Since its creation, it has raised over $3 million to accelerate its growth in Nigeria.

To access its services, a user needs to create an account on its web or mobile -Android and iOS- platforms. They can then browse the listed properties, including single-family houses, apartments, or even studios of different standings. After browsing the various listings, the user can schedule visits to choose one property over another. Visit scheduling is possible only for certified accounts, i.e accounts with a premium subscription. 

Rent Small Small also saves legal, brokerage, and agency fees for users. It also offers flexible rent payment ways for users.  

The proptech led by Tunde Balogun claims to have provided more than 25,000 monthly stays in 18 different locations and saved tenants more than NGN1.4 billion ($3 million) in legal fees. In 2021, the startup was selected to participate in the Techstars Toronto Accelerator program.

“We have stayed away from institutional investment for the past 3 years because we wanted to figure out a model that truly solves the rental problems and one that we can scale. Now that we have good traction and our solution is loved by both Landlords and Tenants, we need strong mentorship for our next growth phase. We believe that participating in the Techstars Toronto Accelerator at this time is right for us. Its network, skills, and resources are what we will be able to leverage as we expand,”  Tunde Balogun said at the time.

Adoni Conrad Quenum  

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