How to Build a Safety Net as a Business Owner Living in Nigeria
As a business owner in Nigeria paying for your shop rent yearly can either break or make your business grow, you’re no stranger to uncertainty. The country’s economy can be unpredictable, and unexpected challenges can arise at any moment. That’s why having a safety net is crucial to ensuring your business’s financial stability. The SpaceRent feature is designed to help you as a business owner save towards your rent payments to avoid taking a big chunk of your business profit all at once.
What is SpaceRent and how can it help you save towards rent as a Business owner in Nigeria
SpaceRent is a feature on the RentSpace app that enables you as a business owner to save towards your next rent while you earn up to 18% interest per annum
Key benefits of Using SpaceRent
● Automated Rent 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.
● Progress Tracking: With SpaceRent, you can track your savings progress in real-time, giving you visibility into how close you are to reaching your rent savings goal. Stay motivated as you watch your savings grow over time.
● Loan Qualification: When you save up to 70% of your rental value within 6-8 months, SpaceRent rewards you with the opportunity to qualify for a loan of up to 30%. Access additional funds to cover your rent, providing you with financial flexibility when you need it most.
● Direct Rent Payments: SpaceRent facilitates direct payments to your landlord on your behalf, ensuring timely and hassle-free rent payments. Say goodbye to late fees and eviction threats, and enjoy the convenience of seamless rent transactions through SpaceRent.
How to get started
Step 1: Download & Sign Up
● Install RentSpace App from Google PlayStore or App Store
● Create an account and verify email.
Step 2: Fund Wallet
● Login and click the “Add Money” icon.
● Fund wallet via bank transfer or card funding.
Are you still struggling with saving
Read : How to Become Disciplined in Saving for Rent Using Rentspace App.
Step 3: Activate SpaceRent
● Locate the savings icon and tap “SpaceRent”.
● Create a New Space Rent account, enter rental value, and select savings interval.
Step 4: Automate Savings
● SpaceRent automates rent savings contributions.
● Track progress in real-time.
Step 5: Qualify for a Loan
● Save 70% of rental value within 6-8 months.
● Access additional funds for rent.
Step 6: Direct Rent Payments
● SpaceRent facilitates timely payments to landlords.