Leading property-tech management company, Shelta, has introduced a monthly rent payment option on its platform, making it the first of its kind in Nigeria.
The development which is against the age-long annual rent payment practice in Nigeria is a relief to tenants who subscribe with the company, given the problems associated with annual rent payment method known in the country.
Shelta’s Founder and Chief Executive Officer (CEO), Austin Igwe, who disclosed this at its 3rd Anniversary Dinner and Award Night, held in Abuja, also said by January,Shelta would be coming out with a product aimed at addressing accommodation problems by corps members and low income earners.
Mr Igwe , who also decried the problem associated with caution fees between landlords and tenants upon the latter moving out of the apartment, advocated flexible rent option and return of caution fees with interest in situations where tenants vacate apartments without damage to properties.
Igwe added that Shelta was working assiduously towards solving accomodation problems by low-income earners and corps members, who he regretted,move from one location to the other in search of accommodation during their service years.
According to him,the company was expanding its services beyond metropolitan cities to suburbs, especially Abuja to cater for the needs of low-income earners.
Speaking on why Shelta ventures into monthly rent payment option in a country where such option has not been on the table, Igwe explained that the “introduction of monthly rent was because of the problems that are associated with annual rent payment.
” Most people pay their rent on the edge,many people take loans just to pay the rent and sometimes, it gets to a point where they can no longer manage it and so, they end up delaying or telling stories to the property owners and when they start telling stories, the property owners are not interested in hearing. The property owner feels ‘I have built this house and this is an investment for me.’
” Some of them are using their houses as sources of income after retirement. So, it breaks their hearts to see that a particular tenant has been in the property and not paying.”
Firm Introduces Monthly Rent Payment On Platform
