5 Smart Ways to Save Money on Rent in Lagos Nigeria Every Month

saving Money on Rent

In this article, I will expose you to Smart ways to save for your rent seamlessly In Lagos, Nigeria and also access extra funds to complete your rent payment using SpaceRent, a Product by RentSpace tech.

Before proceeding I’m sure you might be wondering what SpaceRent is?

Spacerent is a revolutionary product by RentSpace Tech designed to help individuals manage their rent payments more effectively and achieve greater financial stability. Whether you’re a busy professional, a small business owner, or a single parent.

Spacerent offers a user-friendly platform to automate your rent savings, qualify for loans, and alleviate the stress of managing your annual rent payments.

Saving for rent in Lagos, Nigeria, can be challenging given the high cost of living in the city. Here are five smart ways to save for rent:

  1. Set a Budget: Determine how much you need for rent and create a budget that allocates a portion of your income specifically for rent savings. Be realistic about your expenses and cut down on unnecessary spending to maximize your savings.
  2. Increase Your Income: Look for opportunities to boost your income through side hustles, freelance work, or taking on a part-time job. The extra income can be dedicated to your rent savings, helping you reach your goal faster.
  3. Downsize Your Lifestyle: Evaluate your current lifestyle and identify areas where you can cut back on expenses. This might mean dining out less frequently, reducing entertainment expenses, or finding more affordable transportation options.
  4. Explore Housing Options: Consider alternative housing options that might be more affordable than traditional apartments. This could include co-living spaces, shared accommodation with roommates, or exploring areas outside the city center where rent prices tend to be lower.
  5. Automate Your Savings: SpaceRent allows you to set up automated savings contributions towards your rent based on your preferred frequency (weekly, or monthly). Simply input your rental value and savings interval, and SpaceRent will handle the rest, helping you build a steady savings habit effortlessly.

   How It Works

  • Install The RentSpace App: Go to Google PlayStore and download the RentSpace app to get started..
  • Sign Up: Getting started with Spacerent is easy! Simply create an account with RentSpace check email and proceed with the on screen instruction to verify your account.
  • Fund Wallet: After successfully registering your account, you can now login and click on the “Add Money” icon in your dashboard, here you can choose to fund your wallet using bank transfer or card funding.
  • With Bank transfer all you have to do is copy the virtual account number and ask the sender to credit the account details you provide. 
  • With Card Funding all you have to do is
  • Step 1: Click on the “Top-up with card button” 
  • Step 2: Input amount you intend funding with then click Fund Now
  • Step 3: Input card details and proceed
  • Activate SpaceRent: Locate and click the savings icon in the RentSpace App, Tap on “Space Rent”, Click on “Create New Space Rent ” enter your rental value, and select your preferred savings interval, then Proceed.

  • Automate Savings: Spacerent will automate your rent savings contributions based on your chosen interval, helping you build a consistent savings habit without any effort.
  • Track Progress: Monitor your savings progress in real-time using Spacerent’s intuitive dashboard. Watch as you get closer to reaching your rent savings goal and qualifying for a loan.
  • Qualify for a Loan: Once you’ve saved up to 70% of your rental value within 6-8 months, Spacerent rewards you with the opportunity to qualify for a loan. Access additional funds to cover your rent with ease.
  • Direct Rent Payments: Spacerent facilitates direct payments to your landlord on your behalf, ensuring timely and hassle-free rent transactions each month. Enjoy peace of mind knowing your rent payments are taken care of by SpaceRent.


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