Rent Now Pay Later

 According to a recent report confirmed by the state’s housing commissioner, Moruf Akinderu-Fatai, Lagos is largely dominated by renters. This trend is more out of necessity rather than affordability.

Most Nigerians earn a monthly salary, but annual rent payments have a firmer hold in the rental market. This puts residents in a tough spot to save up for the large upfront payments. 

This poses a challenge to financial stability among Lagos tenants. If you have rented in Lagos, you will know the struggle all too well. Rent keeps climbing due to high demand. The growing popularity of certain locations on the mainland and islands attracts a hefty price tag. This makes it harder for regular folks to afford a decent apartment without stretching their finances thin. 

How Does Rent Now Pay Later Works

In a bid to encourage sustainable living among Lagos residents, financial tech start-ups have risen to help Lagos residents live more comfortably. What superpower are they deploying as a service to aid the financial burdens of annual rent payments, The Rent Now Pay Later Scheme 

This brilliant service is also called rent financing and does exactly what it implies. It helps you cover the huge upfront payment to your landlord while you pay back in smaller instalments monthly. This acts as a financial safety net; it is flexible enough to accommodate your income bracket. 

Let’s say for example you got a dream apartment after months or weeks of searching, but the total amount of your rent is too much for you to handle. With Rent Now and Pay Later, providers like Ulè Homes step in and pay your rent to your landlord in full, and then set up a repayment plan for you. The plan is tailored to your income and ensures your repayment is affordable and leaves room for other expenses.

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Benefits of the Rent Now Pay Later Scheme 

Financial stability 

The customer testimonials at Ule Homes provide insight into how beneficial the services have been to its users. They can plan around their finances because their savings are now tailored to handle any unforeseen crisis and meet other financial goals they have. Rent financing has taken care of their rent payments and gives them room to be able to stand on their feet. 

Improved Standard of Living 

The majority of people move to Lagos through job opportunities, Lagos being a large commercial state. But with the high housing cost in the state, they are settling for less ideal apartments just to make ends meet. Rent Financing can empower you to suit your needs and taste without breaking the bank. It is possible to live close to work, in a safe neighbourhood with good amenities. 

Improved credit scores 

Did you know that timely repayment on your rent financing loan can help you improve your credit score? This credit score is very important for individuals who want to take a personal loan in the future. It builds a financial foundation for leverage. 

Renting a home shouldn’t feel stressful, You can take the financial pressure off your shoulders with rent financing. At its core, Rent Now, Pay Later is designed to ease the stress and give Lagos tenants a chance at comfortable and affordable housing. 

So if you have been feeling stuck sorting out your rent payment alongside other bills, maybe it’s time to explore this option. 

Have You Heard About Ule Homes

Ule Homes is a rent financing company that aims to create a more inclusive rental market. We are supporters of the narrative that good housing doesn’t have to come with financial hardship.

Take the first step towards stress-free renting, visit our website at www.ulehomes.com to learn more about how we can help. 

If you are ready to dive right in with our team, fill out our KYC form here. 

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Omotayo Ajewole from Ule Homes