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Tenancy Terms

Rent SmallSmall Tenancy Terms

Effective Date: November 2021

Agreement

This document contains Rent Small Small’s general property letting terms and is applicable to all persons booking a property on RentSmallSmall platform. A personalized property engagement agreement will be prepared between Rent Small Small and a prospective Occupant which will include the general terms and specific terms which characterize the property a tenant reserves for his occupation.

Rent confirmation by Owner

A prospective tenant/licensee/lessee of a property listed on the Rent Small Small Platform is required to provide certain documents for verification purposes within 24 hours of reserving a property for occupation. The move-in date may be extended where an Occupant is unable to present the required document within the above stipulated time.

Upon a satisfactory verification process, the property owner shall confirm the letting of the property as reserved by the prospective tenant/licensee/lessee. No person other than the property owner or his appointed agent may confirm or decline the letting of a property reserved by a prospective Occupant. Where a property owner declines a property reservation made by a prospective Occupant, the property letting will be cancelled immediately and the prospective tenant/licensee/lessee may elect to let another property on the Platform or claim a full refund of all monies advanced via the Platform for the Letting.

Where a User provides invalid documents for any process on the Platform, RentSmallSmall shall reject such invalid documents and extend the Move-in date for re-submission of the required documents by the User. The renting of the reserved property will not be cancelled by RentSmallSmall, however the Move-in date will be extended for up to 15 days to enable the User provide all the required documents as all documents shall be provided by the User no later than 48 hours before the Move-in date.

In the event where a User is an existing Occupier desirous to move into another listed property, the terms relating to documentation and property owner verification shall apply.

However, where a listed property does not require property owner verification prior to Move-in by an Occupier, the standard documentation procedure above shall apply.

Notice Period & Minimum Stay

An Occupier may terminate a property letting agreement only in accordance with the terms of the personalized letting agreement between the Occupier and the Property Owner or his duly authorized agent. However, an early termination of the property letting agreement by an Occupier will attract a termination penalty. An Occupier who terminates a property letting contract before the full term of the contract will forfeit the Security Deposit paid as well as unused rent already paid for the month in which the Occupier terminates. Properties listed on the Platform are available for letting for the under-listed terms;

1 month

3 months

6 months

9 months and

12 months

Upon termination of a property letting contract, the Occupier is obliged to pay all outstanding rents, rates, any penalties accrued in respect of late payment of rent, property maintenance charges and such other amounts accrued over the property which remained unpaid at the date of termination.

Agreement

Notice Period & Minimum Stay

An Occupier may terminate a property letting agreement only in accordance with the terms of the personalized letting agreement between the Occupier and the Property Owner or his duly authorized agent. However, an early termination of the property letting agreement by an Occupier will attract a termination penalty. An Occupier who terminates a property letting contract before the full term of the contract will forfeit the Security Deposit paid as well as unused rent already paid for the month in which the Occupier terminates. Properties listed on the Platform are available for letting for the under-listed terms;

1 month

3 months

6 months

9 months and

12 months

Security Deposit

The Security Deposit is a financial guarantee given by Occupier to the property owner against breach of contract, damages to the property, and outstanding payment on the property. The Security Deposit is calculated on the basis of one month or two months of rent as stated on the property details rent over the demised property. A prospective Occupier will pay the Security Deposit to Rent Small Small before the commencement of the property letting in accordance with the property letting agreement. Where a prospective occupier fails to pay the Security Deposit, the property reservation process will not be complete and can thus not move into the property nor pay rent in respect of the selected property.

Where an existing Occupier chooses to move into another property listed on the Platform, but with a higher rental value, the difference between the current rent payable by the Occupier and the new property will be paid to Rent Small Small to update the Security Deposit. The same procedure will apply where an Occupier elects to move into a property with a lesser rental value.

Deposit Payment Terms

Tenant needs to pay one month or two months 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 or via transfer 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, Late Payment and Rent Inclusions Policy

Contract Start Date

The property letting contract will commence on the selected start date, provided the Move-in date selected will not be earlier(or later) than the Contract Start Date. Any adjustments relating to the Contract Start Date must be made no later than 48 hours before the selected Contract Start date for a maximum of 7 days, while the Move-in date may be adjusted only by approval from Rentsmallsmall.

Where an Occupier elects to move into the property before the Contract start date, the Contract start date shall be adjusted to meet the move-in date provided that the Property is ready to be inhabited.

An Occupier must schedule a move-in date at least two days before the desired move-in date. Where a move-in date is not selected, the Contract start date shall be deemed the move-in date.

Payment Terms

The rent on the demised property is payable in advance no later than 5 days(3 days) after the expiration of the last rent paid. Where an Occupier fails to pay the rent sum as stated above, the rent penalty will apply.

Late payment charges

Where an Occupier fails to pay his rent in accordance with the Payment terms, this clause will apply:

1. The Licensee is liable to pay rent monthly from the Commencement Date, and any rent sum left unpaid 2 days after the rent becomes due shall be subject to a late payment penalty of N3,000 (Three Thousand Naira) per day of default.

2. The Licensee shall be granted a 2-day grace period from the date the monthly rent falls due after which a daily default penalty of N3,000 (Three Thousand Naira) shall be charged on the Property.

3. The Licensee further acknowledges that the Legal Representatives may commence eviction procedures where the outstanding rent inclusive of the penalty fees remain unpaid 2 days after 3 days of default.

4. Where the Licensee pays only a portion of his rent on the date it becomes due, the penalty fees shall still apply as stated in paragraph (3) above.

5. Where the Licensee fails, neglects or refuses to pay the penalty fees, the corresponding amount shall be deducted from the Security Deposit paid at the commencement of the License

RentSmallSmall will as part of its eviction process report all outstanding sums owed to registered credit bureau in Nigeria, and shall in addition report the default to the Occupier’s guarantor and employer and shall blacklist the Occupier from letting any property on the Platform in the future.

The rent payable on the Property is inclusive of the property letting fee, property service charge, furniture and selected appliance (where selected on the Platform), but it excludes monthly PHCN electricity charge and service charges, (where property is self-serviced)

Rent deduction

The Licensee/Tenant shall not make any deductions, subtraction or set-off from the due monthly rent without the written consent of Rent Small Small. Any deductions made from the due monthly rent shall constitute a breach of the tenancy/licensing agreement and The company’s eviction proceedings will be initiated accordingly against any licensee/Tenant deducting any portion of their monthly rent without the due authorization of Rent Small Small.In the event that the Licensee/Tenant expends certain amount on repairs or services which the property management company in charge of the Property has failed, neglected or refused to carry on or provide, the Licensee/Tenant shall present and or attach a receipt to the subsequent rental payment in order for Rent Small Small to investigate and reconcile the expenses accordingly.

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"

RentSmallSmall Benefits

Rent Insurance (as stated in the property letting agreement -see Insurance Policy below for terms and conditions)

Deep cleaning of property before move-in.

General

All non-structural issues discovered later than 7 days after the Move-in date in a self-serviced demised property shall be borne by the Occupier.

RentSmallSmall shall not be responsible for the maintenance of any furniture and appliances fitted in the demised property, although the maintenance services may be provided by RentSmallSmall on the Occupier’s account. Payment options

A prospective Occupier may make all rent payments via Online payment, Debit card/Credit card payment, Direct deposit to the Rent Small Small account or by Direct Debit instruction on the Occupier’s account.

Cancellation and Refund Policy

Cancellation before contract start date

Cancellation before contract start date

Where a cancellation is made by an Occupier within 24 hours of payment for a reserved property the full rent sum and the security deposit will be refunded.

Where the cancellation is made by the Occupier later than 24hrs after the date on which the payment for a reserved property is made, but before the Contract Start date, cancellation charges of 5% of the entire rent sum shall apply. The Security deposit shall be refunded to the Occupier in full.

Where the cancellation is made by the Occupier after Contract Start Date, the tenant will forfeit the security deposit.

Cancellations may only be made by an Occupier until the last day of the contract as any cancellation made by an Occupier after the expiration of the Contract shall require the Occupier to vacate the demised property. In the event that the Occupier requests a cancellation at the end of the contract period, the Occupier shall be refunded with the caution fee paid subject to Rent Small Small’s review of the property. The refund shall be made within 5 working days from the move-out date as stipulated in the property letting contract.

Where the Occupier elects to move out of the property before the full term of the contract period the security deposit will be forfeited. Any unpaid rent, utility bills and such other outgoings will be deducted from the security deposit at the end of the contract. Where damage has been occasioned by the Occupier or his agents in the course of the property letting period, the Occupier shall make all necessary payments required to remedy the damage occasioned during the course of his occupation.

Refund Mode

All refund shall be processed via cheque or online transfer.

Where cash payment is made in respect of the rented property by an Occupier, any refund due to such Occupier shall be made within 5 working days after obtaining the bank details of the said Occupier. 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.

Where the property reservation is made online, it will take up to 5 working days to process the refund. Actual receipt of the money is subject to payment gateway refund processing time line.

Verification is mandatory before move-in. A prospective Occupier may verify their eligibility by uploading a valid means of identification and proof of income. A prospective Occupier may not schedule the move in date unless verification details are completed and documents are complete (documents uploaded and verified). The 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.

A digital copy of the property letting contract will be served on the tenant 2 days before move-in and an executed copy should be returned to RentSmallSmall on or before the move-in date.

Move out shall be initiated by the Occupier. To initiate Move-out, kindly log-in to the RentSmallSmall platform with registered Email ID, click on my profile, then click on My Bookings and select Move Out (Cancel Booking). Other means like emails, telephonic conversation with any employee of Rent Small Small, will not be considered as sufficient cancellation of bookings.

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 Occupier can move out any time before the contract end date. The Move out date can be any day on or before the contract end date. The Occupier shall select the move out date to facilitate proper handover of keys to the property, move out inspection, move out agreement etc. can be handled accordingly.

Failure of the above will lead to an automatic forfeiture of a tenant’s security deposit

Rescheduling

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

Cancellation of move out request

Move out request may be cancelled up to one day before scheduled move out date subject to availability and where the property is unavailable, then the tenant may request for an internal transfer.

Keys Policy

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

Keys to the main door of the property and all rooms are provided to all Occupants. On losing the keys, the tenant can make a duplicate key by himself/herself or pay a fee for replacement.

The Occupant 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 charges are applicable except for the difference in security deposit, where necessary.

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 charges 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 that states “Pet Friendly” filter on the listing.

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.

Safety and Security

RentSmallSmall will provide a first of its kind Rent Insurance to tenants on a 12 months booking contract with a 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 an Occupant 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 an Occupant 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 an Occupant 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 Occupant’s employment is terminated by his employer, the insurance will cover the tenant for a maximum period of 3 months. (This does not include Occupants who are self-employed).

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

Rent Insurance

Theft and Damage Policy

Personal Belongings

The Occupant 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 the 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 hence, 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.

Job Status

A tenant is mandated to inform RentSmallSmall of a change in their job status. This will ensure our verification records are up to date.

LAUNDERING POLICY (“POLICY”)

Small Small Technology Limited (“SST” or “Company”) is property technology company engaged in the business of providing property letting, sales, leasing and management services via its online platforms and is pledged to conduct business with strong and stringent ethical and legal standards. We are prudent to enforce and monitor the applicability of the company’s rules and policies on all the employees and any entity acting on our instruction or on our behalf to uphold our pledge to standard.

In compliance with the extant law and prudent practice, the Company has adopted this Anti-Money Laundering Policy (“Policy”), to apply to all directors, officers, employees, agents, representatives, consultants, advisors, distributors, supplier contractors, or other third parties acting for and on behalf of the Company, irrespective of the name or representation of such a representative ("Company Personnel").

The company will not conduct business or transactions with individuals or legal/artificial entities whose conduct may raise a risk of suspicions of involvement or actual involvement with illegal activities. This Policy and the internal controls/verification processes are designed to avoid money laundering, terrorist financing or/and the use of money, goods, or gains of illicit provenance. This prohibit the exchange of cash or kind between the company and any client or third party. This is for protection of the company is significant ranging from criminal liability to imprisonment, loss of license, fines, bad will and negative publicity and as such, this policy can help prevent potential criminal liability of the Company that could result from such violations/crimes.

Suspicious indices/pointers for Money Laundering and related practices includes those perpetuated by self or for a third party and include the following unexplained or suspicious spikes in activities of user which include any suspiciously large number of transactions, the user or a related third party tries to conceal identities or the source(s) of its funds, absence of a clear and precise registered office or online presence, inability to recognize an entity and its structure, funds for the transaction from abroad when there is no apparent link between this country where the funds are sourced and the third party, use of multiple bank accounts or foreign accounts held abroad without any justification; payments in cash or using bearer checks; the third party intends to pay a higher price for the services for no good reason, the third party is based in a tax haven or a high-risk country.

Company Personnel/contractors engaged by the company who violate this Policy may be subject to disciplinary action, which may include dismissal from the Company, termination or disengagement of agreements, and or any other associated legal and out-of-court actions, to the full extent of enforcement as provided under relevant extant laws. More so, SST has no tolerance for any form of retaliation, including punishment, toxic behaviours, intimidation, exclusion, humiliation or other forms of harassment against the person of any employee who, in good faith, report misconduct or express concern about a particular practice or decision.

This policy may be amended to reflect or give effect to the intenton of the company and any such material revision or amendment of this Anti-Corruption Policy shall require a resolution of the Board of Directors.