Tenancy Terms - Rent apartment in Lagos with flexible monthly paymentRent apartment in Lagos with flexible monthly payment

Tenancy Terms

  1. Rent
  2. Security Deposit
  3. Contract Start Date, Rent Payment and Rent Inclusions Policy
  4. Cancellation and Refund Policy
  5. Move-in/Move-out Policy
  6. Keys Policy
  7. Inter House/Area Movement Policy
  8. Guest Hosting Policy
  9. Policy for Keeping Pets
  10. Rent Insurance
  11. Safety and Security
  12. Theft & Damage Policy

Rent Policy

Agreement (Contract)

This document is RentSmallSmall general tenancy terms and applicable to all tenants booking a house on RentSmallSmall platform. A personalized tenancy agreement will be drafted which will include the general terms and specific terms that characterize the property a tenant books

Rent confirmation by Owner

  • In all the houses which are under landlord’s approval policy, tenants need to submit required document for verification within 24hrs after booking. The move-in date will be extended in the event any tenant fails to submit the required document within the above stipulated time.
  • Only the landlord of the house has a right to confirm or decline any tenant’s renting. In case landlord decline any tenant’s renting, a notification via SMS and mail will be sent to the tenant on the same day. When the landlord declines any tenant’s renting, the renting will be cancelled automatically. Once the renting is declined by the landlord, tenant can opt for any other property listed on RentSmallSmall portal or claim for a full refund.
  • In case any tenant send us invalid documents, RentSmallSmall will reject such invalid documents and extend the move-in date for re-submission of the valid documents by the tenant. Till such time, RentSmallSmall will not cancel the renting and only move-in date will be extended.
  • In case of internal transfer of any existing tenant, the above-mentioned conditions will be applicable wherein any house is under landlord’s confirmation policy.
  • However, houses which are not covered under the landlord’s approval policy, as mentioned above, the document submission policy remains the same i.e. documents needs to be submitted 48hrs prior to move-in date.

Notice Period & Minimum Stay

  • There is an early termination charge that apply if the tenants moves out before completing the duration of booking in all RentSmallSmall homes.
  • The duration of booking available on RentSmallSmall are One (1) month, Three (3) months, Six (6) months, Nine (9) months, and Twelve (12) months.
  • The minimum duration of booking allowed on RentSmallSmall per time is One (1) month and maximum duration per time is Twelve (12) Months.
  • If the tenant moves out of RentSmallSmall house before completing duration of booking, he/she will forfeit their 1 month security deposit (one month rent for lock-in breach).

Security Deposit

Security Deposit is a form of guarantee given by tenant to the landlord against breach of contract, damages to the property, and outstanding payment on the property.

Deposit Payment Terms

  • Tenant needs to pay one month of rent as security deposit.
  • Tenant is required to pay the full security deposit, at the time of booking.
  • The security deposit paid is stated in the tenancy agreement.
  • Security deposit must be paid online along with the rent.
  • In the case where a tenant chooses to make an internal transfer or upgrade his/her current rent type, the difference in the amount of security deposit will be expected to be paid by the tenant before him/her making the actual transfer. In case the new rent is lower, the difference in Naira is adjusted against the following month’s rent.

Contract Start Date, Rent Payment and Rent Inclusions Policy

Contract Start Date

The rent will start from contract start date, provided as move in date at the time of booking the property.
Once contract start date is selected as move-in date at the time of booking the property, the Move in date can be preponed any number of times, but the contract start date will remain the same.
The contract start date can only be postponed 48 hrs before contract start date, and can only be postponed for 7days.
The contract start date depends on the verification completion and on whether the house requires owner approval.

Payment Terms

Tenant needs to pay the rent in advance, on or before the 5th day of every new month, quarter, or bi-annual, depending on the stated payment plan in tenancy agreement.
In case, the tenant wants to move into a RentSmallSmall property in any date of the current month after the 10th (tenth) day of the month and before the 1st (first) date of a new month, the rent for that month will be calculated based on the number of days remaining in the month and tenant will pay for the days.
If tenant moves in from 1st (first) day of the month up to 10th (tenth) day of the month, rent will still count as one month and tenant will pay for the whole month.

Late payment charges

From 6th to 15th of the month: ₦ 10,000

From 15th to 28th of the month: ₦ 3000 per day for every day of delay.

Non-payment of rent post 28th of the month would result in breach of tenancy terms and the tenant would be served a quit notice and required to vacate the scheduled premises immediately.

If the rent is not received by the due date as per the policies, RentSmallSmall is at liberty to take legal action for eviction and report the delay or non-payment to credit agencies which can impact the tenants credit score.

Your rent covers

  • Monthly, Quarterly, Bi-Annually rent (payment plan as stated in the tenancy agreement)
  • Service charges (If property is serviced, and services and terms as stated in tenancy agreement)
  • Furnishing & Appliance charges (If selected from Offer and Packages on RentSmallSmall platform and as stated in tenancy agreement)

Your rent does not cover

    • Monthly PHCN Electricity Charges
    • Service Charges (If property is self serviced as stated on tenancy agreement)
    • Anything not mentioned in the “Your Rent Covers” section and not covered in the “Tenancy Agreement”

“FOOD IS NOT PROVIDED AND NOT INCLUDED IN THE MONTHLY RENT”

Additional RentSmallSmall Benefits

  • Rent Insurance (If/as stated on tenancy agreement -check Insurance Policy below for terms and conditions)
  • Deep cleaning of property before move-in

General

  • All issues (non structural)for self-serviced property post 7 days of move-in to be borne by tenants
  • RentSmallSmall is not responsible for the maintenance of any furniture and appliances that are fitted in the house, that the tenant has rented, although on demand RentSmallSmall may provide maintenance service and the same will be charged to the tenant.

Payment options

  • Online via Debit card/Credit card/Direct deposit

Cancellation and Refund Policy

Cancellation before contract start date

  • If Tenant cancels within 24hrs after booking time, the rent & security deposit will be entirely refunded (time starts counting the moment payment is successful and confirmation email is sent)
  • If cancellation is made 24hrs after the date on which the booking is made before contract start date, cancellation charges of 5% is deductible on total amount of rent paid. [To illustrate if the booking is made on 01 April 2017 and cancelled on 3rd April 2017, cancellation charges would be applicable]
  • Cancellation charge would be 5% of total rent paid at the time of booking, excluding security deposit
  • These charges won’t be applicable if the cancellation is due to landlord declining the booking.

Cancellation after Contract Start Date

  • If booking is cancelled after contract start date, then tenant forfeits security deposit.

Refund on move-out

  • Cancellations are allowed only up to last day before contract starts and anything after that would be considered a move out.
  • The caution fee shall be refunded, after deduction if any as per RentSmallSmall’s policies, within 5 working days from the day of move-out at the end of contract.
  • If the tenant decides to move out before completion of contract period (period stated in tenancy agreement) with RentSmallSmall, security deposit will be forfeited.
  • Any unpaid rent, utility payments will be deducted from the security deposit after end of contract.
  • Tenant has to pay for damages, on actuals, in case there’s some damage to the property or its belongings.

Refund Mode

  • All refund shall be processed via cheque or online transfer.

Refund Timeline

  • If for any reason booking is made through cash, it shall take up to 5 working days to process the refund after obtaining the bank account details from the tenant.
  • If the booking is made online, it shall take up to 5 working days to process the refund. Actual receipt of the money is subject to payment gateway refund processing time line.

Move-in/Move-out Policy

Move-in date can be rescheduled to any day as long as it is after contract start date.

  • If the tenant decides to move-in before contract start date then the contract start date will be preponed to the move-in date.The rent shall be calculated according to the contract start date clause.
  • If the move-in date is postponed the rent will start as per the contract start date clause and the utility charges and other charges such as service will be charged from contract start date.
  • To move-in on a particular date, it is mandatory to schedule a move-in 2 days before the move-in date.
  • Verification is mandatory before move-in. One can verify their eligibility by uploading their id and proof of income. The tenants will not be able to schedule the move in (date and time) unless profile details are completed and documents are complete (documents uploaded and verified).
  • Property will be automatically released and will be available for booking to others if any of the previous conditions on Document submission is not complete.
  • Tenant needs to schedule his move-in prior to actual moving into the house.
  • Soft copy of agreement shall be served to the tenant 2 days before move-in and a signed soft copy shall be returned to RentSmallSmall on or before move-in date.
  • Move out needs to be initiated by the tenant. Please log-in to RentSmallSmall platform with your registered E-mail id. Go to my profile, Click on My Bookings and Select Move Out (Cancel Booking). Other means like mails, telephonic conversation with any employee, etc. will not be considered.
  • Tenant need to ensure his presence on the scheduled move out date else the damages, if any, listed by the inspection team would be considered final.

Move Out Date

  • The tenant can move out any time before contract end date.
  • The Move out date can be any day on or before the contract end date.
  • The tenant needs to choose the move out date so that Official handover of the keys, Move Out inspection, Move out agreement etc. can be handled accordingly.

Rescheduling

  • Move out Date can be postponed by the tenant, up to a maximum of 7 days from the contract end date.

Cancellation of move out request

  • Move out request can be cancelled up to one day before scheduled Move Out date subject to availability and if property is not available, then the tenant can request for an internal transfer.

Keys Policy

Keys for the main door of the property and all rooms are provided to all tenants.

  • On losing the keys, the tenant can make a duplicate key by himself/herself or pay a fee for replacement
  • Tenants must return all keys and access cards of the premises to RentSmallSmall at the termination of this agreement.

Inter House/Area Movement Policy

Following charges shall be applicable for tenants opting for an internal transfer within the same house:

  • Any internal transfer within the same house from Booking Date Up to Move In Date incurs zero charges.
  • Any internal transfer within the same house after Move In Date incurs 50% of the current monthly rent.
  • “Internal Transfer Request” shall be made by sending an email to info@rentsmallsmall.com. Once the “Internal Transfer Request” is accepted, notification will be sent to tenants via email and charges will be applicable irrespective of whether the tenant wants to proceed with internal transfer or not.
  • No additional are applicable except for the difference in security deposit, if present.

Following charges shall be applicable for tenants opting for an internal transfer to a different house or area:

  • Any transfer from Booking Date Up to Move In Date incurs zero charges.
  • Any transfer after Move In Date incurs 100% of the current monthly rent.
  • “Transfer Request” shall be made by sending an email to info@rentsmallsmall.com. Once the “Transfer Request” is accepted, notification will be sent to tenants via email and charges will be applicable irrespective of whether the tenant wants to proceed with transfer or not.
  • No additional are applicable except for the difference in security deposit, if present.

Guest Hosting Policy

Open Guest Hosting

RentSmallSmall has an open guest policy, but if you’re living in a shared house or block of flats, you need to be responsible and considerate about your co-tenants when you host your guests. So, here are a few initiatives you can take to make this peaceful.

  • Have a word with your co-tenant about your little gig and get their consent. Have it recorded, (it could be a simple message on SMS, Whatsapp, or anything, essentially something you can use as proof) so that there is no blame game, should there be any consequences in the future.
  • As you must be aware, RentSmallSmall partners with certain estates that are governed by policies of the Estate Association. Make sure you take recorded consent of the estate association in addition to that of the co-tenant if hosting a party or event in your flat.
  • We believe in having fun responsibly. Please avoid the risks of mishaps so that you don’t get into a position you don’t want to be in. Also, in case of financial losses incurred, you will sadly have to bear it.

Policy for Keeping Pets

  • Pets are only allowed in the properties with profile states”Pet Friendly” filter on the app.
  • RentSmallSmall will not be liable for the upkeep of the pet or in the event any damage/ harm is caused to any co-tenant or co-tenant’s pet. Also, the owner of the pet will be liable to pay the cost of any damage caused to the property due to their pet.

Rent Insurance

Rent Small Small will provide a first of its kind Rent Insurance to tenants on 12 months booking contract with monthly, quarterly, bi-annually payment plan. The insurance cover is provided by AXA Mansard Insurance PLC and is subject to the following conditions detailed in this tenancy terms.

  • If a tenant suffers from any impairment that results in permanent and total disablement that disables him/her from engaging in or attending to his/her profession or occupation, he will be covered for the remainder of his tenancy period
  • If a tenant becomes critically ill, is diagnosed and confirmed as being terminally ill as a result of ailments such as Cancer, Heart Attack,Stroke, Paralysis, Kidney Failure, Coma etc., he/she will be covered for the remainder of his tenancy period
    N.B: The policy must have been in force for at least 6 months and there must have been no pre-existing condition
  • If a tenant dies, with the exception of death due to suicide or at the hands of justice, he/she will be covered for the remainder of his/her tenancy period.
  • If the tenant’s employment gets terminated by his employer, the insurance will cover the tenant for a maximum period of 3 months.(Exclude self-employed tenants)

Any declaration by the tenant to any of the aforementioned conditions should be backed by evidence and supporting documents and forwarded to RentSmallSmall as soon as possible. Rent Small Small reserves the right to verify all documents submitted before claims are made.


Safety and Security

RentSmallSmall properties are located in various areas across Lagos. In order to maintain a peaceful environment, anything that may be or may become a nuisance or annoyance in the form of noise (e.g. loud music, strident noise, quarrels) smell, fumes, smoke, or that may interfere with the quiet enjoyment of neighboring premises by the Landlord and other occupants, and consumption of illegal and banned substances are not allowed in RentSmallSmall properties.

Internal issues/ fights among the tenants are better resolved among tenants. Involvement of RentSmallSmall is not beneficial and hence undesirable.

In the event tenant breaks any rules as stipulated herein or as contained in the contract agreement, RentSmallSmall on behalf of the Landlord, reserves the right to, issue appropriate notice including but not limited to Eviction notice to the tenant.


Theft & Damage Policy

Personal Belongings

  • The tenant shall be responsible for his/her belongings in the Scheduled Premise and neither the owner, RentSmallSmall nor its vendors shall be held liable/ responsible for the same.

Home Furnishing

  • In the case of theft/loss and damage of any furnishing or appliance or furniture in the house , the tenants staying at the scheduled premises at that point of time shall be held responsible.
  • A reasonable sum shall be deducted from security deposit of tenants towards compensation of the loss/ theft and damage or an amount as mentioned in cancellation & refund policy. In case the recovery amount exceeds the security deposit, the tenants shall be liable to pay the amount.
  • For general maintenance RentSmallSmall may keep a copy of the keys of your house. And for shared houses, RentSmallSmall may show houses to other tenants, we advise you to keep your valuables locked inside the cupboards & never leave them unattended in open places.
  • We shall not be responsible for any theft or accidental damage to your valuables in case of an untoward incident.