Rentpady is a contributory rent share platform where tenants make installments towards their next rent and receive a subsidy on due date.
In this model, tenants pay a portion of their rent in installments throughout the year at a subsidized rate. The platform then uses these installments to pay the landlord on behalf of the tenant for the full value of rent on its due date.
Rent Share helps renters manage their cashflows, by spreading out the cost of their rent in installments throughout the year, rather than paying the full amount upfront at the beginning of their rent circle. Rent subsidy helps reduce its overall cost.
Additional benefits include optional rent cover and rent insurance ensures that the roof over your head is firmly secured.
Rentpady is not an investment or savings platform, instead, it’s a financial service designed to help renters manage their day-to day expenses.
Undoubtedly, rent payment is a big deal in Africa; the reason most cities in Africa have a culture of rent prepayments. Usually in annual or biannual circles.
Meeting these obligations are precisely tasking. In most cases, a nightmare as it requires a one-time heavy cash outflow.
Available statistics have shown that payment of rent is a major purpose of approximately 60% of consumer loans procured by Nigerians.
This has further compounded the problem as interest on these loans increases the eventual cost of rent. Even worse is that the majority of these loans have a 12-month circle, and they are renewed each time rental payments fall due.
The result is that tenants get poorer, and pay more for rent when loans are procured to defray obligations, and worse is that these loan rounds become unending.
Rentpady platform provides an opportunity to plan your upcoming rent,
and to find listed properties that offers monthly payments of annual rents. Together, Landlord, Tenant and Rentpady, are redefining rent payment end to end.
Fundamental to this is a major shift to planning that aligns with your income pattern.
We help you set outside a portion of your income on your next pay day targeted at rent payment.
By combining our expertise, our Trustees credibility with our proprietary technology, we are able to provide solutions that help you achieve your goal.
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