Respay Solution unveils digitalised rent payment products into Nigerian market

A new product that will ease rent payment and other issues relating to estate management through digitalisation and modern technology has been introduced into the Nigerian market by Respay Solution.

The products, which launch held at Civic Center, Ozumba Mbadiwe, Victoria Island, Lagos recently will further expose Nigerians to the world of digital technology that is fast taking over most areas of human endeavour all over the world.

Products unveiled by Respay Solutions for the real estate sector at the event include online payment of rent and lease, payment of service charge/utility bill, escrow of caution deposit and third party services.

Others include property search and application, maintenance request tracking and feedback as well as payment support (rent loan and mortgage).

It was revealed at the launch, which was attended by professionals in the industry, stakeholders and members of the public that audiences of Respay include landlords (home and Diaspora), tenants, estate associations, developers, facility managers, utility companies and lawyers.

The Chief Executive Officer of Respay, Mr. Adedotun Fasiku told journalists at the event that Respay is a professional management solution that landlords can actually use to manage their real estates.

Fasiku stated that Respay marries property management and payment, adding that the company is a modular platform that solves the problem of all stakeholders in the sector.

“We decided to go into the business based on its necessity and we are also creating value chain for the sector.

“Respay will effectively manage rental portfolio including tenant screening, choosing the right tenants for properties, payments with different payment reminders and automated payment structure.

‘The escrow caution deposit will help the tenants.

“A lot of tenants don’t get their caution deposit back at the end of their tenancy. So, it’s a material platform that takes care of landlords, tenants and portfolio managers,” he said.

These were corroborated by the Chief Financial Officer of Respay, Mr. Emmanuel Adeoye, who said that the organization took a lot of time in researching the markets, and understanding some of the challenges in the sector.

“We researched into all these user groups, from property owners to property managers, facility managers, and we discovered that a lot of all these challenges can be addressed with simple process automation, and that was what Respay has just done.

“We have been able to meet with the solution that we have today for the processes the facility managers go through.

“And of course, the sector will continue to build on what we have as we continue to engage with stakeholders, and bringing other stakeholders into the platform,” he said.

Also at the event were Professor Adeniran Oluwaranti, OAU ; Barr. Tunde Ogundare, Respay Director; Milan Rathore, Telecom Regional Sales; Dr J J Udofa, CEO, Supra Capital Limited, and Barrister Daniel Omotilewa, Respay Director.