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Top Real Estate Tech Startups in Nigeria

Posted by DanbelPro@InvLtd on February 17, 2021
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Technology has become an inevitable part of our everyday lives. This is because life without technology is pointless in today’s dynamic world. Technology, which brings together tools to promote development, use, and information exchange, has as its main objective of making tasks easier and solving many problems of mankind. When technology progresses and makes our lives even more convenient, we must stress how beneficial it is to our lives.

Imagine life without technology Right now, what kind of life have we? Technology is part of our lives and is one of the key elements for mankind’s survival in a quick-phase world. The development of new technologies helps to save lives; it improves work and makes the world better.

Living in Nigeria’s core cities can be enough struggle particularly for young professionals who want to focus on being as productive as possible. By utilizing technology, startups are building solutions such as rent splitting, home concierge services, among others in easing living difficulties.

The Nigerian property market has recorded significant growth in its Property-tech ecosystem in recent years as we currently have about 72 Proptech companies, an increase from 58 in 2018. Consumers, who are keen on memorable technology-infused experiences, are increasingly utilizing these products. Easier living solutions enabling a more convenient way of living in their apartments have been very essential in creating these technology-infused experiences. In this article, we are going to examine a few startups making life easier for Lagos residents.

Eden Life

Eden Life automates and helps people in Lagos run their homes with its operational model for ‘eliminating chores, tedium and poor services that plague busy professionals.’ For a monthly fee ranging between ₦23,000 ($63.5) to ₦86,000 ($237.4) depending on the selected plan, the company appoints one of its trained staff called Gardeners to a customer.

These Gardeners deliver services and chores like laundry, cleaning and maintenance, meals and groceries, and electronics servicing, on a recurring basis according to the customer’s selected plans.

Services Rendered: Automating the service handling home chores such as meals, laundry, and house cleaning by simply requesting an Eden gardener using the app.

Locations: Lagos.

Subscription Plans: ₦23,000 – ₦86,000 per month.

Year Founded 2019.

Fichaya

Fichaya’s value offering is simple. You go to the website, select any of the packages you want, choose your preferred cycle in a month, then pay. Fichaya’s services are in the form of three packages: regular home cleaning, deep cleaning, and fumigation, with prices ranging from ₦5,775 ($15.98) to ₦60,000 ($165.99).

In a space where there are other startups and businesses offering similar services, Fichaya takes pride in its ability to retain cleaning associates by paying them significantly higher salaries than their peers.

With its business model, Fichaya claims cleaning associates can earn as much as ₦120,000 ($331.98) per month which is over 80% higher than the industry average.

Services rendered: Automating the service of home and corporate cleaning by booking a cleaning session on the application.

Locations: Lagos.

Year Founded: 2017.

Kwaba

Finding a suitable house to rent in Lagos can be a stressful experience. Even after finding the house, making the payment can be another challenge because houses are expensive and the good ones are even more expensive.

Real estate analysis in 2019 showed that Lagos is the most expensive city in Africa with apartment prices in some areas almost tripling that of other states in Nigeria. Abuja is rapidly trailing Lagos in the cost of rents as well. The cost of housing has continued to rise as the population in these states increase and they attract more economic activity.

For low and middle-income earners, this sometimes means that the amount they earn in salary cannot cover the immediate yearly payment of rent. This challenge is sometimes solved by two or more people sharing an apartment and splitting the bill. Some other people choose to borrow the money or save up and rent at a later date.

Kwaba_ng has created a solution that allows people to rent apartments for a year and pay back over a couple of months. Kwaba pays the yearly rent to the landlord or house agent while the tenant pays Kwaba back on a monthly basis.

Services Rendered: A digital service for financing payment of annual rent in advance while the occupant pays monthly (Rent now – Pay Later). According to the company, for a 6 per cent monthly interest rate, the rent repayment is spread between 6-12 months.

Locations: Lagos, Abuja.

Year Founded: 2019.

Quartered

Tochi is a middle-class Nigerian who likes going on mini-tours to other states. Booking a hotel room for the whole day does not help him effectively manage funds because he will only require the room when he wants to sleep.

Seeing as most hotels and guest houses only accept lodging requests for whole days, it becomes difficult for someone like Tochi to pay for exactly what he would use. Thus, whenever he goes on road trips, he is constantly on the lookout for a place where he can pay by the hour.

Tochi is one of many Nigerians who want hotel services that are more flexible than what is offered traditionally and Quartered’s solution offers the perfect way out.

The startup forges partnerships with hotels in different places and allows people to check out the hotels, book rooms that suit them and pay for them from its web app. It currently does not have a mobile app for users.

To make a booking, you have to specify the location where you want the hotel to be, as well as the number of hours that you intend to spend and the exact time you want to check in to the hotel.

As its name suggests, the rooms can be booked for a quarter of a day, but you can also book for 8 hours, 12 hours and 24 hours; all of which are in multiples of 4.

After specifying the details of your booking, Quartered carries out a search from its available rooms and finds one that matches your requirements if it exists in its database.

The startup makes it easy to choose what type of hotel you want and the price range you want it to be in. The types of hotels range from luxury to upper-upscale, upscale, midscale and economy hotels. It also offers serviced apartments among its list of lodgings.

Services Rendered: Enabling guests to book hotels for 4, 8, 12, and 24 hours and choose their check-in time as opposed to booking hotels for a whole day.

Locations: Lagos, Abuja, Port Harcourt.

Year Founded: 2019.

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