A property management firm, Shelta, has unveiled an online rent payment platform to address payment issues between landlords and tenants and also ease the financial burden on tenants.

The company said its system also enables flexible payment of rents, noting that a tenant could pay monthly, quarterly, bi-annually or annually, according to his income.

Speaking at the unveiling ceremony in Abuja, the Chief Executive Officer, Shelta, Austin Igwe, said the firm was targeting 5,000 subscribers in Abuja, Lagos, Kano, and 12 other states before the end of 2022.

According to him, the features of the platform include ensuring that a property is properly maintained, thereby preventing detrimental wear, guaranteed rent through a tech-driven approach, property listing, and litigation cover for property owners to the tune of N2m.

Igwe stated, “Tenants who subscribe to ‘the rent payer’ service on the platform would be able to pay their rents in full through Shelta’s funding channel. The tenants have the option of flexible rent payment, according to their income structure; be it monthly, quarterly, bi-annually or annually.

“The platform would help to solve the issues of litigation between the landlord and tenant. We are targeting about 5,000 subscribers in 15 states between now and before the end of next year.”

Disclosing the objective of the platform, Igwe said the service was launched to help reduce the stress of tenants who find it hard to pay rents annually, adding that it would further curb the usual litigation between the landlords and tenants.

Asked if the platform integrated tax on transactions, the Shelta CEO explained that his firm would pay the appropriate tax on commissions, adding that the property owners were expected to pay the tenement rate and land use charges on their buildings.

“This platform is not targeted at eliminating estate agents or property managers; it will empower them to get more value for their services,” Igwe noted.