Rent Monthly
We run a marketplace and payment infrastructure for monthly rent — not a financing product. Fees cover verification, rent processing, and enforcement. Landlords choose their monthly rate; we apply the platform fee when rent is paid through Rentamnow.
We charge between 5% and 10% on each monthly rent payment processed on-platform. We recommend modelling at 7% unless your agreement states otherwise. Short-term lets of about three months or less may include an additional 1%–2% surcharge due to higher onboarding cost relative to tenure.
| Monthly rent | Platform fee | Fee / month |
|---|---|---|
| ₦75,000.00 | 7% | ₦5,250.00 |
| ₦100,000.00 | 7% | ₦7,000.00 |
| ₦150,000.00 | 7% | ₦10,500.00 |
| ₦200,000.00 | 7% | ₦14,000.00 |
| ₦300,000.00 | 7% | ₦21,000.00 |
Illustrative only — your agreement and checkout show binding amounts.
Lower-risk repayment methods receive a lower platform fee within the published range.
| Tenant / method | Platform fee |
|---|---|
| Salary-linked (payroll)Employer deduction | 5% |
| Salary-linked (bank debit)Salary-day mandate | 6% |
| Verified (escrow / standard)Manual / escrow | 8%–10% |
One-time fees cover BVN/NIN, employment checks where needed, and salary-account or mandate steps on higher tiers.
Income, employment or business, and bank details you submit (with NIN/BVN) are used for affordability checks and fraud prevention—not lending or a full credit score.
| Tier | Includes | Fee |
|---|---|---|
| Basic | BVN + NIN + phone | ₦5,000 |
| Standard | Basic + employment confirmation | ₦10,000 |
| Premium (salary-linked) | Standard + salary account verification + mandate setup | ₦15,000–20,000 |
Salary-link activation: ₦2,500 per setup (in addition to the premium tier where applicable).
If rent is late, your agreement may include penalties. Typical components are summarized below; the split between landlord and platform is defined in your contract.
| Component | Amount |
|---|---|
| Fixed late fee (per incident) | ₦5,000 |
| Daily accrual (while late) | 0.5% of monthly rent per day |
| Reinstatement (after defaulted status) | ₦10,000 |
Landlords set the advertised monthly rent for each listing. Rentamnow does not dictate rent; we facilitate verified listings and rent collection under your agreement.
Salary-linked repayment reduces missed-payment risk, so eligible tenants receive a lower platform fee than standard or escrow-only setups.
We support bank transfer, card, and mobile money where enabled for your flow. Exact methods appear at checkout.
Fees in your agreement and at checkout prevail. This page summarizes our standard schedule; regulatory or partner changes may apply.
Income, employment or business, and bank details you submit (with NIN/BVN) are used for affordability checks and fraud prevention—not lending or a full credit score.
Create an account to list a property or complete tenant verification. Fees are confirmed before you pay.
Questions? Contact us.