Finding and financing house renting is generally difficult in Nigeria. Undoubtedly, this is as a result of poverty level, housing deficient, high inflation rate, as well as the activities of touts who operate as agents in Nigeria’s real estate sector.
According to data released in 2022 by, about 133 million Nigerians are in multidimensional poverty, which represents about 63 percent of the country’s 200 million population. Going by inflation rate which has increased from 21 percent in 2022 to 28.20 percent in November 2023, more Nigerians have fallen in to poverty having
Real estate tech startups are companies that leverage technology to innovate and improve various aspects of the real estate industry. These startups typically focus on addressing challenges related to property buying, selling, renting, management, or investment. Examples of services provided by real estate tech startups include:
Property Listing Platforms
Online platforms that connect buyers, sellers, and renters, making it easier to find and showcase properties.
Property Management Software
Tools that streamline the management of rental properties, handling tasks like lease tracking, maintenance requests, and financial transactions.
Virtual Tours and 3D Modeling
Utilizing virtual reality or augmented reality to provide immersive property tours and interactive 3D models, enhancing the viewing experience for potential buyers or tenants.
Blockchain in Real Estate
Implementing blockchain technology for transparent and secure property transactions, reducing the need for intermediaries and ensuring data integrity.
Predictive Analytics
Using data analytics to forecast real estate market trends, helping investors and developers make informed decisions.
Crowdfunding Platforms
Enabling individuals to invest in real estate projects with smaller amounts of money, fostering more accessible investment opportunities.
Smart Home Technology
Integrating IoT (Internet of Things) devices for home automation and security, adding value to properties and improving overall living experiences.
Financial Technology (Fintech) for Real Estate
Providing innovative financing solutions, such as online mortgage platforms or platforms that facilitate fractional ownership of properties.
These startups are disrupting traditional real estate practices by introducing efficiency, transparency, and accessibility through the application of technology thereby making renting property easier for Logasians.
- Moni Africa
- Rent4Less by Alpha Mead
- Rent Now Pay Later by Spleet
- RentSmallSmall
- Monthly
- iVantage
- Jumia House
- Kwaba
- Leadspace
- Sheruta
Moni Africa
Moni Africa is a financial technology company in Nigeria. The company started operations with the offering of digital financial services such as mobile banking and lending solutions, to individuals and small businesses in Africa.
In its quest to achieve financial inclusion and make livelihood easy for people, the company in 2021 launched rent financing product targeted at helping gainfully employed Lagos residents pay for their house rents. Moni Africa offers rent financing loan of up to N5 million at 3.5% monthly interest charged on a reducing balance basis. To achieve this, Moni Africa partners with Rank Capital Ltd to provide the funds.
Monthly
Monthly is a property tech startup that is building convenient and tech-driven solution to make rent payment easy for working class population in Nigeria. Founded in 2022, the company makes easy for people to pay their rents on monthly basis and provides rent of up to N5,000,000 for people who are gainfully employed and have a good credit history.
According to information available to us, Monthly charges 2.33% per month on a reducing balance basis. It partners witth many leading property listing platforms in Nigeria.
Leadspace
Leadspace provides managed co-working office spaces in Lagos, reducing the cost of rending office in Nigeria’s commercial capital city. It also offers virtual office services, flex and dedicated desks, meeting rooms. Founded by Passion Incubator, co-workers also get additional support such, PR, legal, accounting and business intelligence analysis services. Members pay monthly membership subscription fees.